First Ban

FBP

Banks - Regional · Financial Services

Price

$27.44

-0.40 (-1.42%)

Market Cap

$4.24B

Exchange

New York Stock Exchange

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Share count falling — buybacks

−23.9% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 211.3M (2021) → 160.7M (2025)

First BanCorp. is a regional bank headquartered in San Juan, Puerto Rico. It offers everyday banking services like checking and savings accounts, loans, mortgages, and credit cards to individuals and businesses across Puerto Rico, the U.S. Virgin Islands, and Florida. It is one of the largest banks based in Puerto Rico.

The company makes money primarily through interest income — charging more on loans than it pays out on deposits — as well as fees from banking services. First BanCorp. operates roughly 60 branches, mostly concentrated in Puerto Rico, which gives it a strong local brand and deep customer relationships on the island. However, its heavy dependence on Puerto Rico's economy is also its main risk, since the island has faced long-running fiscal challenges, population decline, and vulnerability to natural disasters like hurricanes, all of which can directly affect loan demand and credit quality.

Winston Score History

Politician Trades

1 trades / 12mo

0 Congressional buys and 1 sell on FBP in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+3.1% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+21.3% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

3.2%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

$18.4B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

First Ban is growing revenue at 3% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

76.1%

Premium pricing power — 76.1% gross margin

Operating Margin

35.9%

Excellent — 35.9% operating margin

ROCE

5.1%

Weak — 5.1% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+3.6%

Slow sales growth (3.6% YoY)

EPS YoY

+22.8%

Earnings growing fast (22.8% YoY)

Healthy double-digit earnings growth — what compounders look like.

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion

128%

Turns 128% of profit into real cash

FCF Margin

35.6%

Converts sales into free cash efficiently (35.6%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

0.15

Conservative — low debt load (0.15)

Interest Cover

1.73x

Dangerous — barely covers interest (1.7x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

P/E Ratio (TTM)

12.1x

Attractive valuation — P/E 12.1

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

+0.4

GROWING

Earnings roughly flat

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Dividends

Dividend Yield

2.89%

Moderate income — 2.89% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth

+11.8%

Dividend growing fast (11.8% YoY)

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