OFG Bancorp (NYSE:OFG) Insider Cesar Ortiz Sells 5,500 Shares

OFG Bancorp (NYSE:OFG) insider Cesar Ortiz sold 5,500 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $42.17, for a total transaction of $231,935.00. Following the sale, the insider owned 351 shares in the company, valued at $14,801.67. The trade was a 94.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

OFG Bancorp Stock Up 0.3%

OFG stock traded up $0.14 during mid-day trading on Monday, hitting $42.34. 303,206 shares of the company were exchanged, compared to its average volume of 301,688. The firm has a fifty day simple moving average of $40.56 and a 200 day simple moving average of $42.32. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $1.86 billion, a PE ratio of 9.62 and a beta of 0.78. OFG Bancorp has a twelve month low of $33.15 and a twelve month high of $46.11.

OFG Bancorp (NYSE:OFG) last released its earnings results on Wednesday, October 22nd. The bank reported $1.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.16. OFG Bancorp had a net margin of 22.26% and a return on equity of 15.18%. The company had revenue of $186.18 million during the quarter, compared to the consensus estimate of $186.71 million. During the same quarter in the prior year, the firm earned $1.00 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. On average, research analysts forecast that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. OFG Bancorp’s dividend payout ratio is presently 27.27%.

Institutional Investors Weigh In On OFG Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Penn Capital Management Company LLC increased its holdings in shares of OFG Bancorp by 1.6% in the third quarter. Penn Capital Management Company LLC now owns 18,870 shares of the bank’s stock valued at $821,000 after buying an additional 303 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in OFG Bancorp by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 20,898 shares of the bank’s stock worth $894,000 after purchasing an additional 391 shares during the period. Wedge Capital Management L L P NC raised its holdings in OFG Bancorp by 1.5% during the second quarter. Wedge Capital Management L L P NC now owns 26,409 shares of the bank’s stock worth $1,130,000 after acquiring an additional 394 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of OFG Bancorp by 4.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,219 shares of the bank’s stock worth $437,000 after buying an additional 396 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in OFG Bancorp by 1.5% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 32,987 shares of the bank’s stock valued at $1,435,000 after buying an additional 500 shares in the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on OFG shares. Zacks Research upgraded shares of OFG Bancorp to a “hold” rating in a research note on Friday, October 10th. UBS Group set a $50.00 price target on shares of OFG Bancorp in a report on Thursday, October 9th. Keefe, Bruyette & Woods reduced their target price on OFG Bancorp from $51.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, October 23rd. Wells Fargo & Company decreased their price objective on OFG Bancorp from $48.00 to $43.00 and set an “equal weight” rating on the stock in a report on Monday, October 27th. Finally, Truist Financial dropped their price objective on shares of OFG Bancorp from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.17.

OFG Bancorp Company Profile

OFG Bancorp, a financial holding company, provides a range of banking and financial services. It operates through three segments: Banking, Wealth Management, and Treasury. The company offers checking and savings accounts, and individual retirement accounts; certificate of deposits, as well as time deposit products; commercial, consumer, auto leasing, and mortgage lending services; credit cards; cash management; financial planning and insurance services; and corporate and individual trust, and retirement services.