First Bancorp director Herencia sells $750,474 of FBP shares

First BanCorp director Roberto R. Herencia sold 26,350 shares of the company's common stock on September 2, 2026, according to wire material. The transaction amounted to $750,474, with shares exchanged at prices between $28.47 and $28.50, resulting in a weighted average sale price of $28.481 per share. Following the sales, Mr. Herencia retains a direct ownership of 610,669 shares of First BanCorp common stock.

This insider sale occurs as First BanCorp shares have appreciated 36% over the past six months, currently priced at $28.51. Analysis from InvestingPro suggests that the stock remains undervalued compared to its Fair Value, trading at a favorable P/E ratio of 12. Investors can access further financial insights through the platform, which provides over 10 additional ProTips and detailed metrics.

Additionally, First BanCorp reported strong earnings for the second quarter of 2026, surpassing analyst expectations with earnings per share of $0.62, versus the estimated $0.54 per share. The company's revenue for the quarter also exceeded estimates at $264.86 million, largely due to improved net interest income and wider margins.

The bank also reported record pre-tax pre-provision income for the quarter. These positive financial results highlight a period of robust performance for First BanCorp, which may be of interest to investors considering the company's recent operational strength.