Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. First BanCorp. shares valued at $161,625 were sold by RIVERA NAYDA on Aug 12. At $16.16 per share, RIVERA NAYDA sold 10,000 shares. The insider’s holdings dropped to 256,911 shares worth approximately $3.66 million following the completion of this transaction.
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Also, Berges Gonzalez Orlando sold 50,000 shares, netting a total of over 781,880 in proceeds. Following the sale of shares at $15.64 each, the insider now holds 293,664 shares.
Before that, RIVERA NAYDA had sold 10,000 shares from its account. In a trade valued at $151,000, the EVP and CRO traded First BanCorp. shares for $15.10 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $3.8 million.
Analysts at Hovde Group started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid December. As of November 09, 2021, Wells Fargo has initiated its “an Overweight” rating for FBP. Earlier on January 09, 2020, Citigroup downgraded its rating. Their new recommendation was “a Neutral” for FBP stock which previously was a “a Buy”.
Analyzing FBP’s Price Performance
On Thursday, First BanCorp. [NYSE: FBP] plunged -2.20% to $14.24. The stock’s lowest price that day was $14.06, but it reached a high of $14.69 in the same session. During the last five days, there has been a drop of approximately -1.25%. Over the course of the year, First BanCorp. shares have jumped approximately 3.34%. Shares of the company reached a 52-week high of $16.62 on 01/18/22 and a 52-week low of $11.94 on 03/07/22. A 50-day SMA is recorded $14.79, while a 200-day SMA reached $14.09. Nevertheless, trading volume fell to 1.4 million shares from 1.46 million shares the previous day.
Support And Resistance Levels for First BanCorp. (FBP)
According to the 24-hour chart, there is a support level at 13.97, which, if violated, would cause prices to drop to 13.70. In the upper region, resistance lies at 14.60. The next price resistance is at 14.96. RSI (Relative Strength Index) is 43.81 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.16, which suggests the price will decrease in the coming days. Percent R is at 59.07%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is First BanCorp. subject to short interest?
Stocks of First BanCorp. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.83 million shares to 5.78 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 6.61 million shares. A decline of -14.36% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.11 of the overall float, the days-to-cover ratio (short ratio) decline to 3.11.
Which companies own the most shares of First BanCorp. (FBP)?
According to BlackRock Fund Advisors filings, the company currently owns 27,046,216 shares, which is about 14.39% of the total FBP shares outstanding. The investor’s shares have plunged by -351,543 from its previous 13-F filing of 27397759.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $346,598,066. Dimensional Fund Advisors LP reduced a -3.02% interest valued at $213.25 million while SSgA Funds Management, Inc. sold a -2,083,389 stake. A total of 6,715,572 shares of First BanCorp. were sold by AllianceBernstein LP during the quarter, and 1,855,626 were bought by American Century Investment Manag. In its current portfolio, Fidelity Management & Research Co holds 6,129,655 shares valued at $87.65 million.