First Bancorp posts Q3 earnings beat, revenue miss and launches $350 M buyback with 25% dividend hike
First Bancorp reported third‑quarter 2026 diluted earnings of $0.63 per share, beating analysts by $0.04, while revenue came in at $260.12 million, short of the $274.67 million consensus. Net income was flat at $96.1 million. The board approved a $350 million stock repurchase program and raised the quarterly common dividend by 25%. Loan growth was 3.3% on an annualized basis and net interest margin slipped to 4.73%.
Why it matters
The company says the buyback and dividend increase return a larger share of earnings to shareholders, which could support the stock price and provide higher cash yields. The revenue shortfall and margin compression signal pressure on top‑line growth, a factor investors will monitor going forward.
Key facts
- 1Diluted EPS was $0.63, beating estimates by $0.04. investing.com
- 2Revenue was $260.12 million, missing the $274.67 million consensus. investing.com
- 3Net income for the quarter was $96.1 million. investing.com
- 4The board approved a $350 million stock repurchase program. investing.com
- 5The quarterly common dividend was increased by 25%. investing.com
- 6Total loans grew 3.3% on an annualized linked‑quarter basis. tradingview.com
Summary written by AlphAI AI Desk from 8 of 8 sources. Not investment advice. Figures are as stated by the linked sources.