Analysts on Wall Street project that First Bancorp (FBP) will announce quarterly earnings of $0.43 per share in its forthcoming report, representing a decline of 2.3% year over year. Revenues are projected to reach $240.31 million, increasing 4.3% from the same quarter last year.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some First Bancorp metrics that Wall Street analysts commonly model and monitor.
According to the collective judgment of analysts, 'Efficiency ratio' should come in at 52.1%. Compared to the current estimate, the company reported 52.5% in the same quarter of the previous year.
Analysts expect 'Net Interest Margin' to come in at 4.5%. The estimate is in contrast to the year-ago figure of 4.3%.
Based on the collective assessment of analysts, 'Total Interest-Earning Assets- Average Balance' should arrive at $19.27 billion. Compared to the present estimate, the company reported $18.93 billion in the same quarter last year.
The average prediction of analysts places 'Service charges and fees on deposit accounts' at $9.83 million. Compared to the current estimate, the company reported $9.66 million in the same quarter of the previous year.
Analysts forecast 'Total Non Interest Income' to reach $33.81 million. The estimate compares to the year-ago value of $33.98 million.
View all Key Company Metrics for First Bancorp here>>>
First Bancorp shares have witnessed a change of -3.2% in the past month, in contrast to the Zacks S&P 500 composite's -5.6% move. With a Zacks Rank #3 (Hold), FBP is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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First BanCorp. (FBP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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