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Insider Selling: McDonald Michael, First Bancorp PR [FBP] EVP divested 1,944 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. First Bancorp PR shares valued at $41,815 were sold by McDonald Michael on Sep 03 ’24. At $21.51 per share, McDonald Michael sold 1,944 shares. The insider’s holdings dropped to 87,476 shares worth approximately $1.81 million following the completion of this transaction.

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Also, McDonald Michael sold 7,612 shares, netting a total of over 164,800 in proceeds. Following the sale of shares at $21.65 each, the insider now holds 89,420 shares.

Before that, Frye Daniel Edward had added 7,662 shares to its account. In a trade valued at $165,729, the Director bought First Bancorp PR shares for $21.63 each.

Analysts at Hovde Group resumed the stock at ‘”an Outperform”‘ outlook in a report released in late July. As of July 09, 2024, Raymond James has initiated its “an Outperform” rating for FBP. Earlier on December 15, 2022, Wells Fargo downgraded its rating. Their new recommendation was “an Equal weight” for FBP stock which previously was a “an Overweight”.

Analyzing FBP Stock Performance

During the last five days, there has been a surge of approximately 4.66%. Over the course of the year, First Bancorp PR shares have jumped approximately 25.59%. 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 $20.53, while a 200-day SMA reached $17.88. Nevertheless, trading volume fell to 1.1 million shares from 1.5 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 20.24, which, if violated, would cause prices to drop to 19.81. In the upper region, resistance lies at 21.16. The next price resistance is at 21.66. RSI (Relative Strength Index) is 53.06 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.09, which suggests the price will decrease in the coming days. Percent R is at 39.11%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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