Have OFG Bancorp Insiders Been Selling Stock?

Anyone interested in OFG Bancorp (NYSE:OFG) should probably be aware that the Independent Director, Jorge Colon-Gerena, recently divested US$464k worth of shares in the company, at an average price of US$46.40 each. The eyebrow raising move amounted to a reduction of 17% in their holding.

View our latest analysis for OFG Bancorp

The Last 12 Months Of Insider Transactions At OFG Bancorp

Over the last year, we can see that the biggest insider sale was by the President, José Fernández, for US$2.1m worth of shares, at about US$37.51 per share. So it's clear an insider wanted to take some cash off the table, even below the current price of US$44.93. We generally consider it a negative if insiders have been selling, especially if they did so below the current price, because it implies that they considered a lower price to be reasonable. While insider selling is not a positive sign, we can't be sure if it does mean insiders think the shares are fully valued, so it's only a weak sign. We note that the biggest single sale was only 13% of José Fernández's holding.

In the last year OFG Bancorp insiders didn't buy any company stock. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

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Does OFG Bancorp Boast High Insider Ownership?

For a common shareholder, it is worth checking how many shares are held by company insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. Insiders own 1.7% of OFG Bancorp shares, worth about US$35m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.

What Might The Insider Transactions At OFG Bancorp Tell Us?

An insider sold stock recently, but they haven't been buying. Looking to the last twelve months, our data doesn't show any insider buying. But it is good to see that OFG Bancorp is growing earnings. Insiders own shares, but we're still pretty cautious, given the history of sales. We'd practice some caution before buying! While it's good to be aware of what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. Every company has risks, and we've spotted 3 warning signs for OFG Bancorp (of which 1 is significant!) you should know about.

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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 of direct interests only, but not derivative transactions or indirect interests.

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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.