OFG Bancorp. EVP Norberto Gonzalez Sells 3,500 Shares (OFG)
OFG Bancorp. (NYSE:OFG) EVP Norberto Gonzalez sold 3,500 shares of OFG Bancorp. stock on the open market in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $18.36, for a total transaction of $64,260.00. Following the sale, the executive vice president now directly owns 20,000 shares in the company, valued at approximately $367,200. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Separately, analysts at Zacks upgraded shares of OFG Bancorp. from an “underperform” rating to a “neutral” rating in a research note on Friday, May 2nd. They now have a $17.90 price target on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. OFG Bancorp. currently has a consensus rating of “Buy” and a consensus price target of $19.98.
Shares of OFG Bancorp. (NYSE:OFG) traded down 0.65% during mid-day trading on Wednesday, hitting $18.29. 243,311 shares of the company’s stock traded hands. OFG Bancorp. has a 1-year low of $14.05 and a 1-year high of $19.33. The stock’s 50-day moving average is $17.46 and its 200-day moving average is $16.57. The company has a market cap of $823.3 million and a price-to-earnings ratio of 10.32.
OFG Bancorp. (NYSE:OFG) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.34 by $0.08. During the same quarter in the prior year, the company posted $0.37 earnings per share. Analysts expect that OFG Bancorp. will post $1.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Thursday, June 26th.
OFG Bancorp, formerly Oriental Financial Group Inc is a diversified financial holding company. The Company’s three principal subsidiaries, Oriental Bank, Oriental Financial Services and Oriental Insurance, provides a range of commercial, consumer and mortgage banking services, as well as financial planning, trust, insurance, investment brokerage and investment banking services, primarily in Puerto Rico, through 64 financial centers.
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