Chief Strategy Officer Ganesh Kumar Sells Shares of OFG Bancorp (OFG)
OFG Bancorp (NYSE:OFG), a financial holding company, has reported an insider sale according to a recent SEC filing. Chief Strategy Officer, US Ganesh Kumar sold 18,768 shares of the company on March 21, 2024. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this SEC Filing.
OFG Bancorp operates as the bank holding company for Oriental Bank that provides various banking and financial services. It operates in three segments: Banking, Wealth Management, and Treasury. The company offers a range of banking and financial solutions to its retail, commercial, and corporate clients.
Over the past year, the insider has sold a total of 136,394 shares of OFG Bancorp and has not made any purchases of the stock. The recent sale by the insider is part of a trend observed over the past year, where there have been no insider buys and 19 insider sells for the company.
On the day of the sale, shares of OFG Bancorp were trading at $35.81, resulting in a market capitalization of $1.704 billion. The company's price-earnings ratio stands at 9.48, which is slightly higher than the industry median of 9.36 but lower than the companys historical median price-earnings ratio.
The stock's price-to-GF-Value ratio is 0.99, with a GF Value of $36.20, indicating that OFG Bancorp is Fairly Valued based on its GF Value. The GF Value is an intrinsic value estimate that considers historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
The insider trend image above reflects the recent insider selling activity for OFG Bancorp.
The GF Value image provides a visual representation of the stock's current valuation in relation to its GuruFocus Value.
Investors and analysts often monitor insider sales as they can provide insights into how corporate executives view the stock's current valuation and future prospects. However, insider transactions are just one of many factors that should be considered when evaluating a company's financial health and investment potential.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
