Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. OFG Bancorp shares valued at $1,512,827 were sold by Colon Jorge on Jul 29 ’24. At $45.73 per share, Colon Jorge sold 33,081 shares. The insider’s holdings dropped to 70,919 shares worth approximately $3.28 million following the completion of this transaction.
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Also, Colon Jorge sold 11,176 shares, netting a total of over 509,124 in proceeds. Following the sale of shares at $45.56 each, the insider now holds 59,743 shares.
Before that, Kumar Ganesh had sold 20,074 shares from its account. In a trade valued at $762,902, the Chief Strategy Officer, US traded OFG Bancorp shares for $38.00 each. Upon closing the transaction, the insider’s holdings decreased to 20,074 shares, worth approximately $4.23 million.
Analysts at Hovde Group resumed the stock at ‘”an Outperform”‘ outlook in a report released in late July. Earlier on December 20, 2021, Hovde Group initiated its rating. Their recommendation was “an Outperform” for OFG stock.
Analyzing OFG Stock Performance
During the last five days, there has been a surge of approximately 13.50%. Over the course of the year, OFG Bancorp shares have jumped approximately 23.56%. Shares of the company reached a 52-week high of $47.57 on 07/23/24 and a 52-week low of $33.19 on 04/19/24. A 50-day SMA is recorded $42.97, while a 200-day SMA reached $39.24. Nevertheless, trading volume fell to 0.55 million shares from 0.26 million shares the previous day.
Support And Resistance Levels for OFG Bancorp (OFG)
According to the 24-hour chart, there is a support level at 44.33, which, if violated, would cause prices to drop to 42.35. In the upper region, resistance lies at 47.48. The next price resistance is at 48.65. RSI (Relative Strength Index) is 67.69 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.95, which suggests the price will increase in the coming days. Percent R is at 4.63%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
