OFG Bancorp (NYSE:OFG) Insider Sells $253,941.35 in Stock

OFG Bancorp (NYSE:OFG) insider Ganesh Kumar sold 6,695 shares of OFG Bancorp stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $37.93, for a total value of $253,941.35. Following the transaction, the insider now owns 76,578 shares of the company’s stock, valued at $2,904,603.54. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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 value of $762,812.00.
• On Wednesday, March 27th, Ganesh Kumar sold 15,768 shares of OFG Bancorp stock. The stock was 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 stock was sold at an average price of $35.18, for a total value of $319,117.78.

OFG Bancorp Stock Performance

NYSE:OFG opened at $38.13 on Friday. The stock has a market cap of $1.80 billion, a P/E ratio of 9.75 and a beta of 1.08. The stock has a 50 day simple moving average of $36.04 and a 200 day simple moving average of $35.34. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 0.17. OFG Bancorp has a 1-year low of $23.11 and a 1-year high of $39.04.

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On OFG Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new position in OFG Bancorp in the 3rd quarter valued at $72,000. Vest Financial LLC acquired a new position in OFG Bancorp in the 4th quarter valued at $241,000. MQS Management LLC acquired a new position in OFG Bancorp in the 3rd quarter valued at $268,000. ProShare Advisors LLC raised its holdings in OFG Bancorp by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 9,328 shares of the bank’s stock valued at $343,000 after acquiring an additional 641 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in OFG Bancorp by 23.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,959 shares of the bank’s stock valued at $357,000 after acquiring an additional 2,273 shares in the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

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.