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Why First Bancorp Could Beat Earnings Estimates Again
If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider First Bancorp (NYSE: FBP). This company, which is in the Zacks Banks - Southeast industry, shows potential for another earnings beat.
This holding company for FirstBank Puerto Rico has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 20.72%.
For the most recent quarter, First Bancorp was expected to post earnings of $0.38 per share, but it reported $0.44 per share instead, representing a surprise of 15.79%. For the previous quarter, the consensus estimate was $0.39 per share, while it actually produced $0.49 per share, ...