On November 11, 2024, Aurelio Aleman, President and Chief Executive Officer of First BanCorp (FBP, Financial), executed a sale of 50,000 shares of the company. The transaction was filed with the SEC and can be viewed in detail through the SEC Filing. Following this sale, the insider now owns 1,045,261 shares of First BanCorp.
First BanCorp, headquartered in San Juan, Puerto Rico, operates as the bank holding company for FirstBank Puerto Rico. It 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 insurance agency activities, among others.
Over the past year, Aurelio Aleman has sold a total of 250,000 shares and has not made any purchases of the company's stock. The insider transaction history for First BanCorp shows a trend with 21 insider sells and no insider buys over the same timeframe.
Shares of First BanCorp were trading at $21.64 on the day of the sale, giving the company a market cap of approximately $3.49 billion. The price-earnings ratio of the stock stands at 11.77, which is above the industry median of 10.81.
According to the GF Value, the intrinsic value estimate for First BanCorp is $16.79 per share, making the stock Modestly Overvalued with a price-to-GF-Value ratio of 1.29. The GF Value is calculated based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates.
This recent insider sale might interest investors tracking insider behaviors as an indicator of confidence levels regarding the company's current valuation and future prospects.
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.
