Finance

What the Insider Data Suggests About First Bancorp (FBP)

Recent insider trends for First Bancorp (NYSE:FBP) have caught the attention of investors. Patters in insider activity can help analysts formulate an outlook for a stock. In the case of FBP, the data has a lot to say about how the stock might perform going forward.

Institutions own 91.80% of First Bancorp (FBP)’s shares. The total value of these holdings, in millions, is $982. Among active positions in the latest quarter, 99 holders increased their positions by a total of 20.7 million shares, 76 holders decreased the positions by a total of 9.17 million shares, and 25 holders held their positions. This works out to a net increase in ownership of 11.52 million shares, and suggests that institutions are feeling bullish about the stock.

Among new and sold out positions, 19 holders initiated new positions by a total of 1.76 million shares and 26 holders exited their positions by a total of 3.76 million shares. This nets out to a decrease of 2 million shares and is another bearish sign for FBP.

In the last three months, insiders executed a total of 146 trades. 71 of these were buys and 75 were sells. Insider ownership decreased by a total of 29.78 million shares, which suggests that FBP’s key executives are feeling less optimistic about the outlook for the stock. The data from the past twelve months tells a similar story: insiders executed 293 buys and 316 sells, and ownership decreased by a net of 108.53 million shares.



Short interest, or the number of a stock’s tradable shares currently being shorted, is another metric investors use to get a pulse on sentiment. First Bancorp (NYSE:FBP)’s short interest is 3.85 million shares, or 2.47% of the float. This represents an increase of 12% in the number of shares being shorted compared to the previous reading, and implies that investors felt more pessimistic about the stock during the past two weeks.

Supplementing insider data with technical indicators can help an investor form a more complete view on the outlook for a stock. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that FBP is a Strong sell, which implies that FBP is expected to underperform the market based on prior trading patterns.

Conclusion




Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bearish. Technical indicators (also) suggest that First Bancorp (NYSE:FBP) is overvalued.

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