Independent Director Jorge Colon-Gerena Sold A Bunch Of Shares In OFG Bancorp

We wouldn't blame OFG Bancorp (NYSE:OFG) shareholders if they were a little worried about the fact that Jorge Colon-Gerena, the Independent Director recently netted about US$2.0m selling shares at an average price of US$45.69. That's a big disposal, and it decreased their holding size by 43%, which is notable but not too bad.

See 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$45.42. When an insider sells below the current price, it suggests that they considered that lower price to be fair. That makes us wonder what they think of the (higher) recent valuation. 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.

OFG Bancorp insiders didn't buy any shares over the last year. 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!

If you like to buy stocks that insiders are buying, rather than selling, then you might just love this free list of companies. (Hint: Most of them are flying under the radar).

Insider Ownership Of OFG Bancorp

I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. We usually like to see fairly high levels of insider ownership. Insiders own 1.8% of OFG Bancorp shares, worth about US$39m. 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?

Insiders 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. While insiders do own shares, they don't own a heap, and they have been selling. We're in no rush to buy! 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. For example, OFG Bancorp has 3 warning signs (and 1 which shouldn't be ignored) we think you should know about.

Of course OFG Bancorp may not be the best stock to buy. So you may wish to see this free collection of high quality 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 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.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com