OFG Bancorp (NYSE:OFG) Insider Sells $352,970.80 in Stock

OFG Bancorp (NYSE:OFGGet Free Report) insider Ganesh Kumar sold 9,697 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $36.40, for a total transaction of $352,970.80. Following the transaction, the insider now directly owns 134,805 shares of the company’s stock, valued at $4,906,902. The sale was disclosed in a document filed with the SEC, which is available through this link.

Ganesh Kumar also recently made the following trade(s):

  • 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 Trading Down 1.4 %

NYSE OFG opened at $35.70 on Friday. OFG Bancorp has a one year low of $22.34 and a one year high of $39.04. The company has a 50-day simple moving average of $36.21 and a 200-day simple moving average of $33.90. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market capitalization of $1.68 billion, a PE ratio of 9.35 and a beta of 1.08.

OFG Bancorp (NYSE:OFGGet Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The bank reported $0.98 EPS for the quarter, beating the consensus estimate of $0.93 by $0.05. OFG Bancorp had a net margin of 23.62% and a return on equity of 16.25%. The business had revenue of $208.26 million during the quarter, compared to analyst estimates of $172.50 million. During the same period in the previous year, the business posted $0.97 EPS. On average, equities analysts forecast that OFG Bancorp will post 3.73 earnings per share for the current year.

OFG Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be given a $0.25 dividend. The ex-dividend date is Wednesday, March 27th. This is an increase from OFG Bancorp’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a yield of 2.80%. OFG Bancorp’s dividend payout ratio (DPR) is currently 26.18%.

Institutional Trading of OFG Bancorp

Several hedge funds have recently bought and sold shares of OFG. Charles Schwab Investment Management Inc. lifted its position in OFG Bancorp by 139.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,207,708 shares of the bank’s stock valued at $30,120,000 after purchasing an additional 703,543 shares during the last quarter. First Trust Advisors LP lifted its position in OFG Bancorp by 236.5% in the 1st quarter. First Trust Advisors LP now owns 529,418 shares of the bank’s stock valued at $13,204,000 after purchasing an additional 372,086 shares during the last quarter. Millennium Management LLC raised its position in shares of OFG Bancorp by 54.4% during the 4th quarter. Millennium Management LLC now owns 868,246 shares of the bank’s stock worth $23,929,000 after buying an additional 306,065 shares in the last quarter. BlackRock Inc. raised its position in shares of OFG Bancorp by 4.1% during the 1st quarter. BlackRock Inc. now owns 7,044,536 shares of the bank’s stock worth $175,691,000 after buying an additional 279,724 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position 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 buying an additional 225,666 shares in the last quarter. 91.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Wells Fargo & Company lifted their price target on shares of OFG Bancorp from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, January 29th.

Get Our Latest Research Report on OFG

OFG Bancorp Company Profile

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for OFG Bancorp (NYSE:OFG)

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