Published on 9 Mar 2024 on GuruFocus.com via Yahoo Finance
Jose Fernandez, the CEO & Vice Chairperson of the Board of Directors of OFG Bancorp (NYSE:OFG), sold 55,000 shares of the company on March 7, 2024, according to a recent SEC filing.OFG Bancorp is a financial holding company that operates through its subsidiaries, providing a range of banking and financial services. It offers commercial, consumer, and mortgage lending; lease financing; auto loans; financial planning; insurance sales; and investment brokerage as well as corporate and individual trust and retirement services, and deposit products.The insider's transaction was executed at an average price of $37.51 per share, resulting in a total sale amount of approximately $2,063,050. This sale has contributed to the insider's total sales over the past year, which amount to 157,624 shares. Notably, the insider has not made any stock purchases in the same period.
OFG Bancorp CEO & Vice Chairperson BOD Jose Fernandez Sells 55,000 Shares
The insider transaction history for OFG Bancorp shows a pattern of insider selling, with 18 insider sells and no insider buys over the past year.On the valuation front, OFG Bancorp's shares were trading at $37.51 on the day of the insider's sale, giving the company a market capitalization of $1.761 billion. The price-earnings ratio stands at 9.80, which is slightly higher than the industry median of 9.38 but lower than the company's historical median price-earnings ratio.