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Significant Insider Selling in Shares of First Bancorp (Puerto Rico) (FBP) Continues

05/10/2021 18:24

10:20 PM EDT, 05/10/2021 (MT Newswires) -- There was a significant sale of shares of First Bancorp (Puerto Rico) by an insider today, as indicated in a form 4 document filed with the SEC. One insider -- Orlando Berges-Gonzalez, Officer -- disposed of 80,000 shares in the company having a market value of approximately $1,037,985. There have been 5 insiders with buy/sell transactions in the past 90 days prior to this filing. These trades have resulted in the purchase of 2,758 company shares and the disposition of 211,000 company shares over this time period. Adding the most recent activity to this 90-day history indicates insider trades have been net sales of 288,242 shares and have averaged 48,960 shares per transaction over this time period.

The level of buy/sell trading at First Bancorp (Puerto Rico) is is above the 394 peer company average over the last 90-day period. The Banks peer group saw 570 buy/sell trades during this period for an average of 1.4 transactions per company. The number of shares per buy/sell trade for First Bancorp (Puerto Rico) insiders was also higher. Within the peer group there were 451,696 shares purchased and 4,788,104 shares sold with company insiders disposing of 7,608 shares on average.

Insider buying and selling activity that is significant has been determined by eliminating all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers in evaluating and writing this story.

This report does not constitute a recommendation to purchase or sell any security and the analysts are not registered investment advisors. Further analysis is recommended before undertaking any position in any security. Any risks are solely the responsibility of the buyer/seller. The authors, publishers and distributors of the MT Newswires Live Briefs service and any associates thereof accept no liability for the content or actions taken by anyone or institution utilizing this report.