The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. First Bancorp PR shares valued at $1,076,105 were sold by ALEMAN AURELIO on Jul 30 ’24. At $21.52 per share, ALEMAN AURELIO sold 50,000 shares. The insider’s holdings dropped to 1,095,261 shares worth approximately $23.49 million following the completion of this transaction.
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Also, ALEMAN AURELIO purchased 100,000 shares, netting a total of over 2,150,000 in proceeds.
Before that, ALEMAN AURELIO had sold 50,000 shares from its account. In a trade valued at $1,080,850, the President and CEO traded First Bancorp PR shares for $21.62 each. Upon closing the transaction, the insider’s holdings decreased to 50,000 shares, worth approximately $24.57 million.
As published in a research note from Hovde Group on July 24, 2024, First Bancorp PR [FBP] has been retained to an Outperform and the price target has been revised to $25. Analysts at Raymond James started covering the stock with ‘”an Outperform”‘ outlook in a report released in early July. As of December 15, 2022, Wells Fargo has decreased its “an Overweight” rating to a “an Equal weight” for FBP.
Analyzing FBP Stock Performance
During the last five days, there has been a surge of approximately 0.42%. Over the course of the year, First Bancorp PR shares have jumped approximately 30.40%. Shares of the company reached a 52-week high of $22.12 on 07/26/24 and a 52-week low of $15.15 on 01/17/24. A 50-day SMA is recorded $18.66, while a 200-day SMA reached $16.81. Nevertheless, trading volume fell to 1.13 million shares from 0.95 million shares the previous day.
Support And Resistance Levels for First Bancorp PR (FBP)
According to the 24-hour chart, there is a support level at 21.28, which, if violated, would cause prices to drop to 21.11. In the upper region, resistance lies at 21.77. The next price resistance is at 22.09. RSI (Relative Strength Index) is 68.46 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.57, which suggests the price will decrease in the coming days. Percent R is at 20.94%, indicating bullish price movement. Stochastics%K at selling indicates that the stock is to be held.
