Aurelio Aleman, President and Chief Executive Officer of First BanCorp (NYSE:FBP), executed a sale of 50,000 shares in the company on March 5, 2024, according to a recent SEC Filing. The transaction was carried out at an average price of $17.17 per share, resulting in a total value of $858,500.
First BanCorp is the bank holding company for FirstBank Puerto Rico, a state-chartered commercial bank in Puerto Rico, the United States Virgin Islands, and the British Virgin Islands, as well as FirstBank Insurance Agency. The company provides a range of financial products and services to retail, commercial, and institutional clients. The company's services include commercial banking, residential mortgage lending, and consumer finance, among others.
Over the past year, the insider has sold a total of 100,000 shares and has not made any purchases. The recent sale further contributes to the insider transaction history at First BanCorp, which has seen 2 insider buys and 7 insider sells over the past year.
On the date of the insider's recent sale, shares of First BanCorp were trading at $17.17, giving the company a market capitalization of $2.909 billion. The price-earnings ratio stood at 10.23, which is above the industry median of 9.34 but below the company's historical median price-earnings ratio.
The stock's price of $17.17, compared to the GuruFocus Value of $17.74, results in a price-to-GF-Value ratio of 0.97, indicating that First BanCorp is Fairly Valued based on its GF Value. The GF Value is calculated considering historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
The insider trend image above reflects the recent insider selling and buying activities at First BanCorp.
The GF Value image provides a visual representation of the stock's current valuation in relation to its intrinsic value estimate according to GuruFocus.
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.
