OFG Bancorp (NYSE:OFG) Insider Ganesh Kumar Sells 6,695 Shares

OFG Bancorp (NYSE:OFG) insider Ganesh Kumar sold 6,695 shares of the stock in a transaction that occurred on 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 directly owns 76,578 shares of the company’s stock, valued at $2,904,603.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 shares were 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 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 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 value of $319,117.78.

OFG Bancorp Stock Up 1.1 %

Shares of OFG Bancorp stock traded up $0.42 on Wednesday, reaching $38.15. 120,910 shares of the company were exchanged, 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 market capitalization of $1.80 billion, a price-to-earnings ratio of 9.76 and a beta of 1.08. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average of $35.95 and a 200 day moving average of $35.30.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of OFG Bancorp

Several large investors have recently bought and sold shares of the business. Quantbot Technologies LP bought a new stake in OFG Bancorp in the third quarter valued at approximately $72,000. Vest Financial LLC bought a new stake in OFG Bancorp during the 4th quarter worth approximately $241,000. MQS Management LLC bought a new position in shares of OFG Bancorp in the third quarter valued at approximately $268,000. ProShare Advisors LLC grew its holdings in shares of OFG Bancorp by 7.4% in the first 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 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 valued at $357,000 after purchasing an additional 2,273 shares during the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

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.