Insider Buying: Rafael Martinez Buys 1,065 Shares of OFG Bancorp. Stock (OFG)
OFG Bancorp. (NYSE:OFG) Director Rafael Martinez purchased 1,065 shares of the company’s stock in a transaction dated Thursday, June 19th. The stock was purchased at an average cost of $18.85 per share, for a total transaction of $20,075.25. Following the completion of the purchase, the director now directly owns 7,341 shares in the company, valued at approximately $138,378. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of OFG Bancorp. (NYSE:OFG) traded up 1.23% during mid-day trading on Monday, hitting $18.95. 60,610 shares of the company’s stock traded hands. OFG Bancorp. has a one year low of $14.05 and a one year high of $19.33. The stock’s 50-day moving average is $18.10 and its 200-day moving average is $16.76. The company has a market cap of $853.0 million and a price-to-earnings ratio of 10.49.
OFG Bancorp. (NYSE:OFG) last announced its earnings results on Tuesday, April 29th. The company reported $0.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.34 by $0.08. During the same quarter last year, the company posted $0.37 earnings per share. On average, analysts predict that OFG Bancorp. will post $1.55 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Thursday, June 26th.
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 equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. OFG Bancorp. currently has a consensus rating of “Buy” and a consensus target price of $19.98.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.