Insider Selling: OFG Bancorp (NYSE:OFG) Insider Sells 6,695 Shares of Stock

OFG Bancorp (NYSE:OFG) insider Ganesh Kumar sold 6,695 shares of OFG Bancorp stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $37.93, for a total transaction of $253,941.35. Following the completion of the sale, the insider now owns 76,578 shares of the company’s stock, valued at approximately $2,904,603.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Ganesh Kumar also recently made the following trade(s):

• On Monday, May 6th, Ganesh Kumar sold 20,074 shares of OFG Bancorp stock. The stock was sold at an average price of $38.00, for a total transaction of $762,812.00.
• On Wednesday, March 27th, Ganesh Kumar sold 15,768 shares of OFG Bancorp stock. The shares were sold at an average price of $35.91, for a total value of $566,228.88.
• On Thursday, March 21st, Ganesh Kumar sold 9,697 shares of OFG Bancorp stock. The stock was sold at an average price of $36.40, for a total value of $352,970.80.
• On Tuesday, March 19th, Ganesh Kumar sold 9,071 shares of OFG Bancorp stock. The shares were sold at an average price of $35.18, for a total value of $319,117.78.

OFG Bancorp Trading Up 1.1 %

Shares of NYSE OFG traded up $0.42 during midday trading on Wednesday, reaching $38.15. The company had a trading volume of 120,910 shares, compared to its average volume of 236,807. OFG Bancorp has a one year low of $23.11 and a one year high of $39.04. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The firm’s fifty day moving average price is $35.95 and its 200-day moving average price is $35.30. The stock has a market cap of $1.80 billion, a PE ratio of 9.76 and a beta of 1.08.

OFG Bancorp (NYSE:OFG) last posted its earnings results on Thursday, April 18th. The bank reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.10. The firm had revenue of $213.49 million for the quarter, compared to the consensus estimate of $175.20 million. OFG Bancorp had a return on equity of 16.10% and a net margin of 23.00%. During the same quarter in the prior year, the business earned $0.96 EPS. On average, equities research analysts anticipate that OFG Bancorp will post 4.02 earnings per share for the current year.

Analyst Ratings Changes

Separately, Wells Fargo & Company dropped their target price on OFG Bancorp from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th.

Institutional Investors Weigh In On OFG Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP purchased a new stake in OFG Bancorp in the 3rd quarter worth $72,000. Vest Financial LLC bought a new position in shares of OFG Bancorp in the 4th quarter valued at about $241,000. MQS Management LLC bought a new position in shares of OFG Bancorp in the 3rd quarter valued at about $268,000. ProShare Advisors LLC lifted its stake in OFG Bancorp by 7.4% in the first quarter. ProShare Advisors LLC now owns 9,328 shares of the bank’s stock worth $343,000 after purchasing an additional 641 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in OFG Bancorp by 23.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,959 shares of the bank’s stock worth $357,000 after purchasing an additional 2,273 shares during the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

OFG Bancorp Company Profile

OFG Bancorp, a financial holding company, provides a range of banking and financial services. It operates through three segments: Banking, Wealth Management, and Treasury. The company offers checking and savings accounts, and individual retirement accounts; certificate of deposits, as well as time deposit products; commercial, consumer, auto leasing, and mortgage lending services; credit cards; cash management; financial planning and insurance services; and corporate and individual trust, and retirement services.