First Ban (NYSE:FBP) has tumbled 6% during the past week and has dropped 1.93% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 4.88%. First Ban (NYSE:FBP) has underperformed the index by 2.82% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
First Ban (NYSE:FBP): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $4.03 and $4.03 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $4.18. The buying momentum continued till the end and the stock did not give up its gains. It closed at $4.07, notching a gain of 1.75% for the day. The total traded volume was 1,752,464 . The stock had closed at $4.00 on the previous day.
The company shares have dropped -36.01% from its 1 Year high price. On Jun 26, 2015, the shares registered one year high at $6.57 and the one year low was seen on Jan 26, 2016. The 50-Day Moving Average price is $4.04 and the 200 Day Moving Average price is recorded at $3.19.
On the companys insider trading activities, Lopez-Lay Ginoris, officer (EVP) of First Bancorp /Pr/, unloaded 10,000 shares at an average price of $3.88 on November 13, 2015. The total amount of the transaction was worth $38,800, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Many analysts have stated their opinion on the company shares. Piper Jaffray initiates coverage on First Ban (NYSE:FBP) The shares have been rated Overweight. The rating by the firm was issued on April 8, 2016. Currently the company Insiders own 41.11% of First Ban shares according to the proxy statements. Institutional Investors own 84.77% of First Ban shares.
First BanCorp. is a financial holding company. The Company serves as the bank holding company for FirstBank Puerto Rico (FirstBank) and FirstBank Insurance Agency, Inc. (FirstBank Insurance Agency). Through its wholly owned subsidiaries, the Company provides financial services and products with operations in Puerto Rico, the United States and the United States Virgin Islands and British Virgin Islands. It focuses on commercial banking, residential mortgage loan originations, finance leases, credit cards, personal loans, small loans, auto loans, and insurance agency and broker-dealer activities. It operates in six segments: Commercial and Corporate Banking; Consumer (Retail) Banking; Mortgage Banking; Treasury and Investments; United States Operations, and Virgin Islands Operations. It has two wholly owned subsidiaries: FirstBank, a Puerto Rico-chartered commercial bank and FirstBank Insurance Agency, a Puerto Rico-chartered insurance agency.