Director Crespo Luz Sells 10,000 Shares of First BanCorp (FBP)
Director Crespo Luz of First BanCorp (NYSE:FBP), the parent company of FirstBank Puerto Rico, has sold 10,000 shares of the company's stock, according to a recent SEC filing. The transaction took place on March 15, 2024, and was reported through an SEC Form 4 document.First BanCorp is a financial holding company headquartered in San Juan, Puerto Rico. The company provides a range of financial services through its main subsidiary, FirstBank Puerto Rico, including commercial and consumer banking services, mortgage loans, and insurance agency and broker-dealer activities. First BanCorp operates through a network of branches in Puerto Rico, the U.S. and British Virgin Islands, and Florida.According to the filing, the insider executed the sale at an average price of $16.47 per share, resulting in a total transaction amount of $164,700. Following this transaction, the insider's direct ownership in the company has decreased by 10,000 shares.Over the past year, Crespo Luz's trading activity has shown a disposition of shares, with a total of 10,000 shares sold and no shares purchased.The insider transaction history for First BanCorp reveals a pattern of insider selling, with 8 insider sells and no insider buys over the past year.
The market capitalization of First BanCorp stands at $2.767 billion as of the date of the insider's recent sale. The stock's price-earnings ratio is 9.73, which is slightly above the industry median of 9.18 but below the company's historical median price-earnings ratio.In terms of valuation, First BanCorp's shares were trading at $16.47, with a GuruFocus Value of $17.86, indicating a price-to-GF-Value ratio of 0.92. This suggests that the stock is Fairly Valued in relation to its intrinsic value as estimated by GuruFocus.
The GF Value is determined by considering historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates provided by Morningstar analysts.The recent insider sell by Director Crespo Luz provides investors with information about insider sentiment and may be a factor to consider in their investment decisions regarding First BanCorp (NYSE:FBP).
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
