Insider Selling: OFG Bancorp (NYSE:OFG) CEO Sells 4,768 Shares of Stock

OFG Bancorp (NYSE:OFG) CEO Jose Rafael Fernandez sold 4,768 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $40.53, for a total transaction of $193,247.04. Following the sale, the chief executive officer owned 209,907 shares of the company’s stock, valued at approximately $8,507,530.71. This represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Jose Rafael Fernandez also recently made the following trade(s):

• On Wednesday, November 12th, Jose Rafael Fernandez sold 25,232 shares of OFG Bancorp stock. The stock was sold at an average price of $40.95, for a total transaction of $1,033,250.40.

OFG Bancorp Stock Up 0.8%

OFG stock traded up $0.33 during mid-day trading on Wednesday, hitting $40.78. The stock had a trading volume of 307,989 shares, compared to its average volume of 307,117. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 9.27 and a beta of 0.84. The company has a current ratio of 0.85, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33. OFG Bancorp has a 1-year low of $33.15 and a 1-year high of $47.66. The company has a fifty day moving average of $42.23 and a 200 day moving average of $42.51.

OFG Bancorp (NYSE:OFG) last issued its quarterly earnings data on Wednesday, October 22nd. The bank reported $1.16 earnings per share for the quarter, meeting the consensus estimate of $1.16. OFG Bancorp had a net margin of 22.26% and a return on equity of 15.18%. The firm had revenue of $184.00 million for the quarter, compared to analyst estimates of $186.71 million. During the same quarter last year, the firm earned $1.00 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities analysts expect that OFG Bancorp will post 4.18 EPS for the current fiscal year.

OFG Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, December 31st. OFG Bancorp’s dividend payout ratio (DPR) is presently 27.27%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on OFG shares. Wells Fargo & Company reduced their price objective on shares of OFG Bancorp from $48.00 to $43.00 and set an “equal weight” rating for the company in a research note on Monday, October 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OFG Bancorp in a report on Wednesday, October 8th. UBS Group set a $50.00 price objective on shares of OFG Bancorp in a research note on Thursday, October 9th. Truist Financial cut their price objective on shares of OFG Bancorp from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. Finally, Wall Street Zen raised shares of OFG Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, July 20th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.17.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nuveen LLC bought a new position in shares of OFG Bancorp in the first quarter worth about $44,749,000. Empowered Funds LLC raised its position in shares of OFG Bancorp by 211.0% during the second quarter. Empowered Funds LLC now owns 421,742 shares of the bank’s stock worth $18,051,000 after acquiring an additional 286,113 shares during the last quarter. Burney Co. acquired a new stake in OFG Bancorp in the second quarter worth about $10,236,000. Millennium Management LLC lifted its position in OFG Bancorp by 73.1% during the 1st quarter. Millennium Management LLC now owns 534,039 shares of the bank’s stock valued at $21,372,000 after purchasing an additional 225,472 shares during the period. Finally, CSM Advisors LLC acquired a new stake in shares of OFG Bancorp during the 2nd quarter worth approximately $8,235,000. Institutional investors and hedge funds own 92.73% of the company’s stock.

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.