Published on 29 Mar 2024 on GuruFocus.com via Yahoo Finance
Chief Strategy Officer Ganesh Kumar Sells Shares of OFG Bancorp (OFG)
OFG Bancorp (NYSE:OFG), a financial holding company, provides various banking and financial services. It operates through three segments: Banking, Wealth Management, and Treasury. The company offers a range of banking and financial solutions, including commercial, consumer, auto, and mortgage lending; checking and savings accounts; financial planning, insurance, wealth management, and investment brokerage; and corporate and individual trust and retirement services.According to a recent SEC filing, Chief Strategy Officer of OFG Bancorp, Ganesh Kumar, sold 23,396 shares of the company on March 28, 2024. The transaction was executed at an average price, leaving the insider with a significant reduction in their holdings in the financial institution.Over the past year, the insider has sold a total of 159,790 shares and has not made any purchases of the company's stock. This latest transaction continues the trend observed in the insider transaction history for OFG Bancorp, which has seen 0 insider buys and 20 insider sells over the past year.
On the valuation front, shares of OFG Bancorp were trading at $36.07 on the day of the insider's recent sale, resulting in a market cap of $1.735 billion. The price-earnings ratio stands at 9.64, which is slightly higher than the industry median of 9.515 but lower than the company's historical median price-earnings ratio.