OFG Bancorp (NYSE:OFG – Get Free Report) insider Ganesh Kumar sold 20,074 shares of the company’s stock in a transaction that occurred on 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 transaction was disclosed in a filing with the SEC, which is available at this link.
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 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 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 transaction of $319,117.78.
OFG Bancorp Stock Performance
Shares of OFG traded up $0.42 during trading hours on Wednesday, hitting $38.15. The stock had a trading volume of 120,910 shares, compared to its average volume of 236,807. The firm has a market capitalization of $1.80 billion, a PE ratio of 9.73 and a beta of 1.08. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.83. OFG Bancorp has a 12 month low of $23.11 and a 12 month high of $39.04. The stock has a fifty day moving average price of $35.95 and a 200 day moving average price of $35.30.
Analyst Upgrades and Downgrades
Separately, Wells Fargo & Company lowered their price objective 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.
Check Out Our Latest Report on OFG
Institutional Investors Weigh In On OFG Bancorp
Several hedge funds and other institutional investors have recently modified their holdings of OFG. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of OFG Bancorp by 23.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,959 shares of the bank’s stock worth $357,000 after buying an additional 2,273 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in OFG Bancorp by 6.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,920 shares of the bank’s stock worth $774,000 after acquiring an additional 1,477 shares during the period. Inspire Investing LLC purchased a new position in OFG Bancorp during the third quarter valued at approximately $659,000. Panagora Asset Management Inc. bought a new position in shares of OFG Bancorp in the third quarter worth approximately $4,205,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. increased its stake in shares of OFG Bancorp by 92.9% in the third quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 27,000 shares of the bank’s stock worth $806,000 after purchasing an additional 13,000 shares in the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.
OFG Bancorp Company Profile
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.
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