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Investors who take an interest in OFG Bancorp (NYSE:OFG) should definitely note that the Independent Director, Jorge Colon-Gerena, recently paid US$26.01 per share to buy US$500k worth of the stock. That's a very decent purchase to our minds and it grew their holding by a solid 25%.
OFG Bancorp Insider Transactions Over The Last Year
In fact, the recent purchase by Independent Director Jorge Colon-Gerena was not their only acquisition of OFG Bancorp shares this year. Earlier in the year, they paid US$27.40 per share in a US$531k purchase. That means that an insider was happy to buy shares at above the current price of US$26.58. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. In our view, the price an insider pays for shares is very important. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.
In the last twelve months insiders purchased 44.97k shares for US$1.2m. On the other hand they divested 2.52k shares, for US$70k. Overall, OFG Bancorp insiders were net buyers during the last year. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
OFG Bancorp is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Insider Ownership of OFG Bancorp
Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. A high insider ownership often makes company leadership more mindful of shareholder interests. OFG Bancorp insiders own about US$25m worth of shares. That equates to 1.9% of the company. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
What Might The Insider Transactions At OFG Bancorp Tell Us?
The recent insider purchases are heartening. We also take confidence from the longer term picture of insider transactions. Insiders likely see value in OFG Bancorp shares, given these transactions (along with notable insider ownership of the company). So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. To assist with this, we've discovered 1 warning sign that you should run your eye over to get a better picture of OFG Bancorp.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.