This Stock Has A 3.27% Yield, Sells For Less Than Book, And Insiders Have Been Buying

In this series, we look through the most recent Dividend Channel ''DividendRank'' report, and then we cherry pick only those companies that have experienced insider buying within the past six months. The officers and directors of a company tend to have a unique insider's view of the business, and presumably the only reason an insider would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So when stocks turn up that see insider buying, and are also top ranked, investors are wise to take notice. One such company is OFG Bancorp ( OFG), which saw buying by Director Rafael Martinez.

The Top DividendRank'ed Stocks With Insider Buying »

Back on March 4, Martinez invested $16,950.00 into 1,000 shares of OFG, for a cost per share of $16.95. In trading on Tuesday, bargain hunters could buy shares of OFG Bancorp ( OFG) and achieve a cost basis 32.7% cheaper than Martinez, with shares changing hands as low as $11.40 per share. It should be noted that Martinez has collected $0.20/share in dividends since the time of their purchase, so they are currently down 31.6% on their purchase from a total return basis. OFG Bancorp shares are currently trading -6.53% on the day. The chart below shows the one year performance of OFG shares, versus its 200 day moving average:

OFG Bancorp Chart

Looking at the chart above, OFG's low point in its 52 week range is $11.40 per share, with $18.89 as the 52 week high point — that compares with a last trade of $11.48. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:

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