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 stock in a transaction dated Monday, May 6th. The shares were 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 filing with the Securities & Exchange Commission, which is accessible 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 transaction of $253,941.35.
• On Wednesday, March 27th, Ganesh Kumar sold 15,768 shares of OFG Bancorp stock. The shares were sold at an average price of $35.91, for a total value 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 stock was sold at an average price of $35.18, for a total value of $319,117.78.

OFG Bancorp Stock Up 1.1 %

NYSE:OFG traded up $0.42 during mid-day trading on Wednesday, hitting $38.15. The stock had a trading volume of 120,910 shares, compared to its average volume of 236,807. OFG Bancorp has a twelve month low of $23.11 and a twelve month high of $39.04. The stock has a 50-day simple moving average of $35.95 and a two-hundred day simple moving average of $35.30. 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 market capitalization of $1.80 billion, a PE ratio of 9.73 and a beta of 1.08.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings data 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. The business had revenue of $213.49 million for the quarter, compared to analyst estimates of $175.20 million. OFG Bancorp had a net margin of 23.00% and a return on equity of 16.10%. During the same period last year, the business earned $0.96 EPS. On average, equities research analysts anticipate that OFG Bancorp will post 4.02 EPS for the current year.

Institutional Trading of OFG Bancorp

A number of institutional investors have recently bought and sold shares of OFG. Quantbot Technologies LP purchased a new stake in OFG Bancorp during the third quarter worth approximately $72,000. Vest Financial LLC acquired a new position in shares of OFG Bancorp in the 4th quarter valued at $241,000. MQS Management LLC purchased a new position in shares of OFG Bancorp in the 3rd quarter valued at $268,000. ProShare Advisors LLC raised its stake in OFG Bancorp by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 9,328 shares of the bank’s stock worth $343,000 after acquiring an additional 641 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position 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 acquiring an additional 2,273 shares during the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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