OFG Bancorp (NYSE:OFG - Get Free Report) insider Ganesh Kumar sold 15,768 shares of the company's stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $35.91, for a total value of $566,228.88. Following the completion of the sale, the insider now owns 119,037 shares in the company, valued at $4,274,618.67. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Ganesh Kumar also recently made the following trade(s):
- 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 stock was sold at an average price of $35.18, for a total value of $319,117.78.
OFG Bancorp Price Performance
OFG opened at $36.81 on Friday. The company has a fifty day simple moving average of $36.28 and a 200 day simple moving average of $34.05. The stock has a market cap of $1.74 billion, a P/E ratio of 9.64 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.17. OFG Bancorp has a 12 month low of $22.34 and a 12 month high of $39.04.
OFG Bancorp (NYSE:OFG - Get Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The bank reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.05. OFG Bancorp had a return on equity of 16.25% and a net margin of 23.62%. The business had revenue of $208.26 million during the quarter, compared to analysts' expectations of $172.50 million. During the same quarter last year, the company posted $0.97 earnings per share. On average, research analysts expect that OFG Bancorp will post 3.75 EPS for the current year.
OFG Bancorp Increases Dividend
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a boost from OFG Bancorp's previous quarterly dividend of $0.22. OFG Bancorp's payout ratio is currently 26.18%.
Analyst Upgrades and Downgrades
Separately, Wells Fargo & Company upped their price objective on OFG Bancorp from $40.00 to $41.00 and gave the stock an "overweight" rating in a report on Monday, January 29th.
Read Our Latest Analysis on OFG
Institutional Investors Weigh In On OFG Bancorp
Institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in shares of OFG Bancorp by 58.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 611,132 shares of the bank's stock valued at $22,905,000 after buying an additional 225,666 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of OFG Bancorp during the fourth quarter worth $500,000. Barclays PLC increased its holdings in shares of OFG Bancorp by 41.1% during the fourth quarter. Barclays PLC now owns 106,266 shares of the bank's stock worth $3,982,000 after buying an additional 30,954 shares in the last quarter. West Tower Group LLC increased its holdings in shares of OFG Bancorp by 262.8% during the fourth quarter. West Tower Group LLC now owns 1,179 shares of the bank's stock worth $44,000 after buying an additional 854 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in shares of OFG Bancorp by 0.4% during the fourth quarter. Nuveen Asset Management LLC now owns 1,398,984 shares of the bank's stock worth $52,466,000 after buying an additional 5,555 shares in the last quarter. Institutional investors own 92.73% of the company's stock.
About OFG Bancorp
(
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.
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