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

OFG Bancorp (NYSE:OFG) insider Ganesh Kumar sold 20,074 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $38.00, for a total transaction of $762,812.00. Following the sale, the insider now directly owns 91,335 shares of the company’s stock, valued at approximately $3,470,730. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 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 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 Stock Up 1.1 %

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

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

Institutional Trading of OFG Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of OFG. Quantbot Technologies LP bought a new stake in OFG Bancorp in the third quarter worth about $72,000. Vest Financial LLC purchased a new stake in OFG Bancorp in the fourth quarter worth $241,000. MQS Management LLC bought a new stake in shares of OFG Bancorp in the third quarter valued at $268,000. ProShare Advisors LLC lifted its position in shares of OFG Bancorp by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 9,328 shares of the bank’s stock valued at $343,000 after buying an additional 641 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of OFG Bancorp by 23.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,959 shares of the bank’s stock worth $357,000 after acquiring an additional 2,273 shares during the period. 92.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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