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

OFG Bancorp (NYSE:OFG) insider Ganesh Kumar sold 20,074 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $38.00, for a total transaction of $762,812.00. Following the completion of the transaction, the insider now owns 91,335 shares of the company’s stock, valued at $3,470,730. The transaction was disclosed in a legal filing with the SEC, which is available 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 transaction 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 value 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 value of $319,117.78.

OFG Bancorp Stock Performance

OFG opened at $38.13 on Friday. The firm’s fifty day simple moving average is $36.04 and its two-hundred day simple moving average is $35.34. OFG Bancorp has a 52-week low of $23.11 and a 52-week high of $39.04. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 9.75 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 issued 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 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 analyst estimates of $175.20 million. During the same period last year, the company posted $0.96 EPS. Equities analysts anticipate that OFG Bancorp will post 4.02 earnings per share for the current fiscal year.

Institutional Trading of OFG Bancorp

Institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in OFG Bancorp by 23.5% in the 3rd 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of OFG Bancorp by 6.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,920 shares of the bank’s stock worth $774,000 after buying an additional 1,477 shares in the last quarter. Inspire Investing LLC acquired a new position in OFG Bancorp during the third quarter worth about $659,000. Panagora Asset Management Inc. purchased a new stake in OFG Bancorp during the 3rd quarter valued at about $4,205,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. raised its holdings in OFG Bancorp by 92.9% in the 3rd quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 27,000 shares of the bank’s stock valued at $806,000 after acquiring an additional 13,000 shares during the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company cut their price objective 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.

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.