OFG Bancorp (NYSE:OFG – Get Free Report) insider Ganesh Kumar sold 20,074 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $38.00, for a total value of $762,812.00. Following the completion of the transaction, the insider now owns 91,335 shares in the company, valued at approximately $3,470,730. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Ganesh Kumar also recently made the following trade(s):
- On Wednesday, May 8th, Ganesh Kumar sold 6,695 shares of OFG Bancorp stock. The shares were sold at an average price of $37.93, for a total value of $253,941.35.
- 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 shares were sold at an average price of $36.40, for a total transaction 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 transaction of $319,117.78.
OFG Bancorp Stock Down 0.1 %
Shares of NYSE OFG opened at $38.13 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.83. OFG Bancorp has a 12-month low of $23.11 and a 12-month high of $39.04. The company has a market capitalization of $1.80 billion, a PE ratio of 9.75 and a beta of 1.08. The firm’s 50-day moving average is $36.04 and its two-hundred day moving average is $35.34.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in OFG. Goldman Sachs Group Inc. boosted its stake in shares of OFG Bancorp by 58.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 611,132 shares of the bank’s stock worth $22,905,000 after purchasing an additional 225,666 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in OFG Bancorp during the third quarter worth approximately $4,205,000. First Trust Advisors LP grew its stake in OFG Bancorp by 15.4% in the 4th quarter. First Trust Advisors LP now owns 752,740 shares of the bank’s stock worth $28,213,000 after acquiring an additional 100,661 shares during the period. Knights of Columbus Asset Advisors LLC raised its holdings in OFG Bancorp by 94.6% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 196,042 shares of the bank’s stock valued at $7,348,000 after acquiring an additional 95,282 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of OFG Bancorp by 9.9% during the 3rd quarter. American Century Companies Inc. now owns 568,693 shares of the bank’s stock worth $16,981,000 after purchasing an additional 51,391 shares during the period. Institutional investors and hedge funds own 92.73% of the company’s stock.
Analysts Set New Price Targets
Separately, Wells Fargo & Company dropped their price target on shares of OFG Bancorp from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th.
About OFG Bancorp
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.
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