Have Insiders Sold First BanCorp Shares Recently?

Anyone interested in First BanCorp. (NYSE:FBP) should probably be aware that the President, Aurelio Aleman-Bermudez, recently divested US$469k worth of shares in the company, at an average price of US$20.52 each. However, the silver lining is that the sale only reduced their total holding by 2.0%, so we're hesitant to read anything much into it, on its own.

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The Last 12 Months Of Insider Transactions At First BanCorp

Over the last year, we can see that the biggest insider sale was by the Independent Chairman, Roberto Herencia, for US$2.2m worth of shares, at about US$22.18 per share. We generally don't like to see insider selling, but the lower the sale price, the more it concerns us. The good news is that this large sale was at well above current price of US$19.52. So it may not shed much light on insider confidence at current levels.

Insiders in First BanCorp didn't buy any shares in the last year. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!

View our latest analysis for First BanCorp

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Does First BanCorp Boast High Insider Ownership?

Many investors like to check how much of a company is owned by insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. It appears that First BanCorp insiders own 2.3% of the company, worth about US$72m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.

So What Does This Data Suggest About First BanCorp Insiders?

Insiders sold First BanCorp shares recently, but they didn't buy any. Looking to the last twelve months, our data doesn't show any insider buying. On the plus side, First BanCorp makes money, and is growing profits. While insiders do own shares, they don't own a heap, and they have been selling. We'd practice some caution before buying! While it's good to be aware of what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. You'd be interested to know, that we found 1 warning sign for First BanCorp and we suggest you have a look.

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For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.