OFG Bancorp’s recently made public that its Director Colon Jorge unloaded Company’s shares for reported $1.51 million on Jul 29 ’24. In the deal valued at $45.73 per share,33,081 shares were sold. As a result of this transaction, Colon Jorge now holds 70,919 shares worth roughly $3.26 million.
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Then, Colon Jorge sold 11,176 shares, generating $509,124 in total proceeds. Upon selling the shares at $45.56, the Director now owns 59,743 shares.
Before that, Kumar Ganesh sold 20,074 shares. OFG Bancorp shares valued at $762,902 were divested by the Chief Strategy Officer, US at a price of $38.00 per share. As a result of the transaction, Kumar Ganesh now holds 91,335 shares, worth roughly $4.2 million.
A number of analysts have revised their coverage, including Hovde Group’s analysts, who remained covering the stock and in late July has reiterated a ‘”an Outperform”‘ rating for it. Hovde Group started covering the stock on December 20, 2021. It rated OFG as “an Outperform”.
Price Performance Review of OFG
On Friday, OFG Bancorp [NYSE:OFG] saw its stock jump 1.57% to $45.99. Over the last five days, the stock has gained 2.31%. OFG Bancorp shares have risen nearly 22.71% since the year began. Nevertheless, the stocks have risen 51.83% over the past one year. While a 52-week high of $47.57 was reached on 07/23/24, a 52-week low of $28.18 was recorded on 04/19/24. SMA at 50 days reached $41.83, while 200 days put it at $37.54.
Levels Of Support And Resistance For OFG Stock
The 24-hour chart illustrates a support level at 45.40, which if violated will result in even more drops to 44.81. On the upside, there is a resistance level at 46.29. A further resistance level may holdings at 46.59. The Relative Strength Index (RSI) on the 14-day chart is 67.32, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.75, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 0.21%. Stochastics %K at 93.42% indicates the stock is a selling.
How much short interest is there in OFG Bancorp?
A steep rise in short interest was recorded in OFG Bancorp stocks on 2024-08-15, dropping by 551.0 shares to a total of 0.43 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-15 was 0.43 million shares. There was a decline of -0.13%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on November 09, 2021 when Wells Fargo began covering the stock and recommended ‘”an Overweight”‘ rating along with a $31 price target.
