OFG Bancorp (NYSE:OFG) Shares Sold by Versor Investments LP

Versor Investments LP trimmed its holdings in shares of OFG Bancorp (NYSE:OFG) by 62.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,519 shares of the bank’s stock after selling 22,100 shares during the period. Versor Investments LP’s holdings in OFG Bancorp were worth $572,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in OFG. Foundry Partners LLC acquired a new position in shares of OFG Bancorp in the third quarter worth about $6,038,000. Empowered Funds LLC acquired a new position in OFG Bancorp in the 4th quarter worth about $4,570,000. Intech Investment Management LLC raised its holdings in OFG Bancorp by 411.3% in the 3rd quarter. Intech Investment Management LLC now owns 64,391 shares of the bank’s stock worth $2,892,000 after purchasing an additional 51,798 shares during the period. Barclays PLC boosted its position in OFG Bancorp by 83.6% during the third quarter. Barclays PLC now owns 96,045 shares of the bank’s stock worth $4,314,000 after purchasing an additional 43,738 shares in the last quarter. Finally, Range Financial Group LLC acquired a new stake in OFG Bancorp in the fourth quarter valued at approximately $1,795,000. 92.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at OFG Bancorp

In related news, CEO Jose Rafael Fernandez sold 50,000 shares of OFG Bancorp stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $45.24, for a total transaction of $2,262,000.00. Following the completion of the sale, the chief executive officer now owns 284,775 shares in the company, valued at approximately $12,883,221. This trade represents a 14.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.11% of the company’s stock.

OFG Bancorp Price Performance

OFG stock opened at $42.42 on Friday. The business has a 50 day moving average price of $42.71 and a 200 day moving average price of $43.24. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 10.05 and a beta of 1.00. OFG Bancorp has a fifty-two week low of $33.19 and a fifty-two week high of $47.66. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.26.

OFG Bancorp (NYSE:OFG) last announced its earnings results on Wednesday, January 22nd. The bank reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.12. OFG Bancorp had a net margin of 22.71% and a return on equity of 15.80%. During the same period in the previous year, the business posted $0.98 EPS. Equities research analysts anticipate that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from OFG Bancorp’s previous quarterly dividend of $0.25. OFG Bancorp’s dividend payout ratio (DPR) is currently 28.44%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on OFG shares. Keefe, Bruyette & Woods boosted their target price on shares of OFG Bancorp from $53.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Wells Fargo & Company boosted their price objective on OFG Bancorp from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd.

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.