Short Interest Update on First Ban (FBP)

First Ban (FBP) : The traders have covered their outstanding shorts in First Ban (FBP) to the tune of -285,984 shares, a change of -10.9%. As on Jul 29, 2016, the outstanding shorts on the stock were 2,624,050 shares, however, by August 15, 2016, the shorts had reduced to 2,338,066 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 1.5% of the free float of the stock. It takes 4 days to cover the outstanding short positions. The stock has an average daily volume of 647,169 shares. The short interest information was released on Wednesday Aug 24th after the market close.

First Ban (NYSE:FBP): The stock was completely flat for the day, closing at $4.69 on Wednesday. The flat closing masks the intraday volatility in the stock. After opening at $4.69, the stock touched an intraday high of $4.74 and a low of $4.65. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $4.69. The total trading volume on Wednesday was 249,693.


In a related news, The Securities and Exchange Commission has divulged that Pancham Cassan, officer (EVP) of First Bancorp /Pr/, had unloaded 5,000 shares at an average price of $4.62 in a transaction dated on August 8, 2016. The total value of the transaction was worth $23,100.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.