OFG Bancorp CEO & Vice Chairperson BOD Jose Fernandez Sells 55,000 Shares
Jose Fernandez, the CEO & Vice Chairperson of the Board of Directors of OFG Bancorp (NYSE:OFG), sold 55,000 shares of the company on March 7, 2024, according to a recent SEC filing.OFG Bancorp is a financial holding company that operates through its subsidiaries, providing a range of banking and financial services. It offers commercial, consumer, and mortgage lending; lease financing; auto loans; financial planning; insurance sales; and investment brokerage as well as corporate and individual trust and retirement services, and deposit products.The insider's transaction was executed at an average price of $37.51 per share, resulting in a total sale amount of approximately $2,063,050. This sale has contributed to the insider's total sales over the past year, which amount to 157,624 shares. Notably, the insider has not made any stock purchases in the same period.
The insider transaction history for OFG Bancorp shows a pattern of insider selling, with 18 insider sells and no insider buys over the past year.On the valuation front, OFG Bancorp's shares were trading at $37.51 on the day of the insider's sale, giving the company a market capitalization of $1.761 billion. The price-earnings ratio stands at 9.80, which is slightly higher than the industry median of 9.38 but lower than the company's historical median price-earnings ratio.
The stock's price-to-GF-Value ratio is 1.04, indicating that OFG Bancorp is Fairly Valued according to the GF Value. The GF Value is an intrinsic value estimate that takes into account historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.The recent insider sell by Jose Fernandez may attract the attention of investors and analysts who track insider behaviors as an indicator of a company's financial health and future performance. However, it is important to consider a wide range of factors when evaluating the implications of insider transactions.
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.
