OFG Bancorp (NYSE:OFG) Insider Sells 20,074 Shares

OFG Bancorp (NYSE:OFG) insider Ganesh Kumar sold 20,074 shares of the stock in a transaction on Monday, May 6th. The stock was 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 directly owns 91,335 shares in the company, valued at $3,470,730. The sale was disclosed in a document filed with the SEC, which is available at 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 stock was 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 transaction 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 shares were sold at an average price of $35.18, for a total transaction of $319,117.78.

OFG Bancorp Price Performance

Shares of OFG opened at $38.15 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a market cap of $1.80 billion, a PE ratio of 9.76 and a beta of 1.08. OFG Bancorp has a twelve month low of $23.11 and a twelve month high of $39.04. The firm’s 50 day moving average price is $36.00 and its 200 day moving average price is $35.32.

OFG Bancorp (NYSE:OFG) last released its quarterly earnings data on Thursday, April 18th. The bank reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.10. OFG Bancorp had a net margin of 23.00% and a return on equity of 16.10%. The business had revenue of $213.49 million during the quarter, compared to analyst estimates of $175.20 million. During the same quarter in the previous year, the business earned $0.96 EPS. As a group, research analysts expect that OFG Bancorp will post 4.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On OFG Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new stake in shares of OFG Bancorp during the 3rd quarter worth $72,000. Vest Financial LLC bought a new position in OFG Bancorp in the 4th quarter valued at approximately $241,000. MQS Management LLC bought a new position in shares of OFG Bancorp in the 3rd quarter valued at $268,000. ProShare Advisors LLC grew its holdings in shares of OFG Bancorp by 7.4% during 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 raised its stake in shares of OFG Bancorp by 23.5% during the third 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 during the last quarter. 92.73% of the stock is currently 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.