Yes, it stems from Latin. See Latin's case declension tables [0]

In Spanish and Portugese, -a is a feminine suffix and -o is masculine; that's where we get Patricio vs Patricia.

There are very few female names that end with -o and very few male names that end with -a in Spanish.

Another example is -ine in Joseph/Josephine. -ine/-ino/-in is a feminizing suffix in German and a diminutive in Spanish and French, that's why it's a femenine suffix in names. In English we have hero vs heroine.

[0]: https://dcc.dickinson.edu/grammar/latin/case-endings-five-de...