OFG Bancorp (NYSE:OFG) Stock Holdings Decreased by Arizona State Retirement System

Arizona State Retirement System lowered its stake in OFG Bancorp (NYSE:OFG) by 2.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 13,175 shares of the bank’s stock after selling 357 shares during the period. Arizona State Retirement System’s holdings in OFG Bancorp were worth $494,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Boston Partners grew its position in shares of OFG Bancorp by 138.5% during the 3rd quarter. Boston Partners now owns 29,518 shares of the bank’s stock valued at $881,000 after buying an additional 17,141 shares during the last quarter. Deutsche Bank AG grew its position in shares of OFG Bancorp by 0.8% during the 3rd quarter. Deutsche Bank AG now owns 364,442 shares of the bank’s stock valued at $10,882,000 after buying an additional 2,849 shares during the last quarter. Affinity Investment Advisors LLC bought a new stake in shares of OFG Bancorp during the 3rd quarter valued at about $695,000. Panagora Asset Management Inc. bought a new stake in shares of OFG Bancorp during the 3rd quarter valued at about $4,205,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of OFG Bancorp by 6.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,920 shares of the bank’s stock valued at $774,000 after buying an additional 1,477 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company lowered their price objective on shares of OFG Bancorp from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th.

Insider Transactions at OFG Bancorp

In other news, insider Ganesh Kumar sold 9,697 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $36.40, for a total value of $352,970.80. Following the completion of the sale, the insider now directly owns 134,805 shares of the company’s stock, valued at approximately $4,906,902. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders sold 34,536 shares of company stock valued at $1,238,317. Company insiders own 3.11% of the company’s stock.

OFG Bancorp Trading Up 4.1 %

OFG Bancorp stock opened at $34.81 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average price of $35.76 and a two-hundred day moving average price of $34.68. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 9.11 and a beta of 1.09. OFG Bancorp has a 52-week low of $22.34 and a 52-week high of $39.04.

OFG Bancorp (NYSE:OFG) last posted its earnings results on Thursday, April 18th. The bank reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.10. The firm had revenue of $213.49 million during the quarter, compared to analyst estimates of $175.20 million. OFG Bancorp had a net margin of 23.62% and a return on equity of 16.25%. During the same period in the previous year, the business posted $0.96 EPS. Sell-side analysts expect that OFG Bancorp will post 3.75 earnings per share for the current year.

OFG Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.25 dividend. This is a positive change from OFG Bancorp’s previous quarterly dividend of $0.22. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Wednesday, March 27th. OFG Bancorp’s dividend payout ratio is currently 26.18%.

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.