OFG Bancorp (NYSE:OFG) CEO Sells $1,033,250.40 in Stock

OFG Bancorp (NYSE:OFG) CEO Jose Rafael Fernandez sold 25,232 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $40.95, for a total transaction of $1,033,250.40. Following the completion of the transaction, the chief executive officer owned 184,675 shares of the company’s stock, valued at $7,562,441.25. This represents a 12.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, November 11th, Jose Rafael Fernandez sold 4,768 shares of OFG Bancorp stock. The shares were sold at an average price of $40.53, for a total transaction of $193,247.04.

OFG Bancorp Price Performance

Shares of NYSE:OFG traded up $0.33 during trading on Wednesday, hitting $40.78. 307,989 shares of the stock were exchanged, compared to its average volume of 307,117. The company has a market cap of $1.82 billion, a PE 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. The company has a fifty day moving average price of $42.23 and a two-hundred day moving average price of $42.51. OFG Bancorp has a 12-month low of $33.15 and a 12-month high of $47.66.

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

OFG Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.9%. The ex-dividend date is Wednesday, December 31st. OFG Bancorp’s dividend payout ratio (DPR) is 27.27%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods lowered their price target on shares of OFG Bancorp from $51.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, October 23rd. UBS Group set a $50.00 target price on OFG Bancorp in a research note on Thursday, October 9th. Wells Fargo & Company dropped their price target on OFG Bancorp from $48.00 to $43.00 and set an “equal weight” rating for the company in a research report on Monday, October 27th. Wall Street Zen raised OFG Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, July 20th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of OFG Bancorp in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $47.17.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC purchased a new stake in OFG Bancorp in the third quarter valued at approximately $53,000. EverSource Wealth Advisors LLC boosted its holdings in shares of OFG Bancorp by 250.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,533 shares of the bank’s stock valued at $66,000 after purchasing an additional 1,095 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of OFG Bancorp in the 2nd quarter valued at $97,000. Quarry LP grew its stake in shares of OFG Bancorp by 458.9% during the 1st quarter. Quarry LP now owns 2,666 shares of the bank’s stock valued at $107,000 after buying an additional 2,189 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of OFG Bancorp during the 2nd quarter worth $162,000. 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.