FBP - First BanCorp: Attractively Valued With A Stable Earnings Outlook
- The declining loan trend will most likely reverse this year due to economic factors and the anticipated reduction in prepayments and PPP forgiveness.
- High liquidity on the balance sheet will help make the top line more sensitive to interest rate changes.
- Loan growth will likely drive provisions for loan losses this year. Nevertheless, the provisioning will likely remain below the historical average.
- The December 2022 target price suggests a decent upside from the current market price. Further, FBP is offering a good dividend yield.
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First BanCorp: Attractively Valued With A Stable Earnings Outlook