On May 1, 2024, Gonzalez Berges, Executive Vice President and Chief Financial Officer of First BanCorp (NYSE:FBP), sold 75,000 shares of the company. The transaction was documented in a recent SEC Filing.

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 shares were sold at a price of $17.92, valuing the transaction at approximately $1,344,000. This sale has adjusted the insider's total shares sold over the past year to 75,000, with no shares purchased during the same period.

The market cap of First BanCorp is currently $3.014 billion. The stock's price-earnings ratio stands at 10.33, which is above the industry median of 9.46.

According to the GF Value, the intrinsic value estimate for First BanCorp is $16.86 per share, making the stock Fairly Valued with a price-to-GF-Value ratio of 1.06.

The following image shows the insider transaction trend for First BanCorp:

The GF Value, which considers historical multiples, a GuruFocus adjustment factor, and future business performance estimates, is depicted below:

Over the past year, there have been no insider buys and nine insider sells for First BanCorp, indicating a trend where insiders are choosing to sell shares.

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.

This article first appeared on GuruFocus.