Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued ...

Financial Data and Key Metrics Changes - The fourth quarter was described as a very good finish to an excellent year, indicating strong overall performance [6]. Business Line Data and Key Metrics Changes - Specific data and metrics for individual business lines were not provided in the available content. Market Data and Key Metrics Changes - Market data and metrics were not detailed in the provided content. Company Strategy and Development Direction and Industry Competition - The company appears to be focused on maintaining strong performance and growth, as indicated by the positive remarks about the year-end results [6]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's performance and outlook, highlighting the successful completion of the year [6]. Other Important Information - The call included a Safe Harbor statement, cautioning that forward-looking statements are subject to uncertainties and actual results may differ [4][5]. Q&A Session Summary - No specific questions and answers from the Q&A session were included in the provided content.

Group 1: Earnings Performance - First Bank reported quarterly earnings of $0.42 per share, exceeding the Zacks Consensus Estimate of $0.39 per share, but down from $0.49 per share a year ago, representing an earnings surprise of 7.69% [1] - The company posted revenues of $33.77 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 2.15%, compared to year-ago revenues of $28 million [2] - Over the last four quarters, First Bank has surpassed consensus EPS estimates three times, but has topped consensus revenue estimates only once [2] Group 2: Stock Performance and Outlook - First Bank shares have declined approximately 2.3% since the beginning of the year, while the S&P 500 has gained 3.5% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the upcoming quarter is $0.39 on revenues of $33.19 million, and for the current fiscal year, it is $1.64 on revenues of $137.59 million [7] Group 3: Industry Context - The Zacks Industry Rank indicates that the Banks - Northeast sector is currently in the top 20% of over 250 Zacks industries, suggesting a favorable environment for performance [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5] - The estimate revisions trend for First Bank is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6]

Results highlighted by strong loan growth, continued operating efficiency, and solid asset qualityHAMILTON, N.J., Jan. 23, 2025 (GLOBE NEWSWIRE) -- First Bank (Nasdaq Global Market: FRBA) ("the Bank") today announced results for the fourth quarter and full year 2024. Net income for the fourth quarter of 2024 was $10.5 million, or $0.41 per diluted share, compared to $8.4 million, or $0.33 per diluted share, for the fourth quarter of 2023. Return on average assets, return on average equity and return on aver ...

RALEIGH, N.C., Jan. 16, 2025 /PRNewswire/ -- First Bank, a leader in the banking industry in the Carolinas, is thrilled to join forces with the Carolina Hurricanes for an exciting new initiative: The Power of Good Goals. Every time the Canes score, First Bank will donate $100 to the Carolina Hurricanes Foundation, fueling their incredible work in the community. From youth hockey programs and educational support to health and wellness initiatives, this partnership will help the Foundation continue to make a ...

HAMILTON, N.J. , Jan. 02, 2025 (GLOBE NEWSWIRE) -- First Bank (Nasdaq Global Market: FRBA) invites participation in a conference call to discuss the Company’s financial and operating performance during its fourth quarter ending on December 31, 2024. Event:Earnings Conference Call – Fourth Quarter 2024 When:Friday, January 24, 2025 at 9:00 a.m. Eastern Time Access:Conference Call Dial-In:(800) 715-9871 (toll free) Conference Call Access Code: 5565911 Patrick L. Ryan, President and Chief Executive ...

The Power of Good Food Drive was held from November 1 – November 30 in honor of Sharon Shaw Adams, a First Bank associate, who passed away in January 2023. Sharon was a Service Excellence champion, the highest level of distinction in First Bank culture, for being an example employee that goes above and beyond. Sharon was a dedicated collector of food items and a relentless warrior against food insecurity. Her passion and commitment to alleviating hunger inspired us all. By organizing this food drive we not ...

1 First BanCorp Financial Results 3Q 2024 m ITT II TI 000000000 2 FORWARD LOOKING STATEMENTS This presentation contains "forward-looking statements" concerning the Corporation's future economic, operational and financial performance. The words or phrases "expect," "anticipate," "intend," "should," "would," "will," "plans," "forecast," "believe" and similar expressions are meant to identify "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 2 ...

First Bank (FRBA) came out with quarterly earnings of $0.34 per share, missing the Zacks Consensus Estimate of $0.41 per share. This compares to earnings of $0.42 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -17.07%. A quarter ago, it was expected that this company would post earnings of $0.40 per share when it actually produced earnings of $0.47, delivering a surprise of 17.50%.Over the last four quarters, the company has ...

Results reflect strong loan and deposit growth, solid asset quality, and balance sheet optimization initiatives HAMILTON, N.J., Oct. 23, 2024 (GLOBE NEWSWIRE) -- First Bank (Nasdaq Global Market: FRBA) (the Bank) today announced results for the third quarter of 2024. Net income for the third quarter of 2024 was $8.2 million, or $0.32 per diluted share. Return on average assets, return on average equity and return on average tangible equity[i] for the third quarter of 2024 were 0.88%, 8.15% and 9.42%, respec ...