State of Alaska Department of Revenue Sells 3,816 Shares of OFG Bancorp (NYSE:OFG)

State of Alaska Department of Revenue lowered its position in OFG Bancorp (NYSE:OFG – Get Rating) by 10.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,950 shares of the bank’s stock after selling 3,816 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.07% of OFG Bancorp worth $828,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Quantbot Technologies LP boosted its position in OFG Bancorp by 734.8% during the 2nd quarter. Quantbot Technologies LP now owns 1,678 shares of the bank’s stock valued at $42,000 after acquiring an additional 1,477 shares in the last quarter. KBC Group NV purchased a new position in shares of OFG Bancorp during the 2nd quarter valued at about $101,000. Mutual of America Capital Management LLC increased its stake in shares of OFG Bancorp by 14.1% in the 2nd quarter. Mutual of America Capital Management LLC now owns 8,162 shares of the bank’s stock valued at $207,000 after purchasing an additional 1,010 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of OFG Bancorp by 19.3% in the 1st quarter. Captrust Financial Advisors now owns 8,840 shares of the bank’s stock valued at $237,000 after purchasing an additional 1,431 shares in the last quarter. Finally, ExodusPoint Capital Management LP boosted its holdings in OFG Bancorp by 11.7% in the 2nd quarter. ExodusPoint Capital Management LP now owns 9,872 shares of the bank’s stock worth $251,000 after buying an additional 1,037 shares during the last quarter. Hedge funds and other institutional investors own 91.03% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of OFG Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 25th.

Insider Buying and Selling at OFG Bancorp

In other news, Director Edwin Perez sold 5,000 shares of the stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $28.40, for a total value of $142,000.00. Following the sale, the director now directly owns 50,000 shares in the company, valued at $1,420,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 20,000 shares of company stock valued at $570,100. Corporate insiders own 2.66% of the company’s stock.

OFG Bancorp Stock Down 2.0 %

OFG Bancorp stock opened at $27.70 on Tuesday. OFG Bancorp has a twelve month low of $24.39 and a twelve month high of $30.93. The stock’s fifty day simple moving average is $27.67 and its 200-day simple moving average is $27.26. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.32 billion, a P/E ratio of 8.85 and a beta of 1.15.

OFG Bancorp (NYSE:OFG – Get Rating) last issued its earnings results on Thursday, October 20th. The bank reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. OFG Bancorp had a net margin of 25.03% and a return on equity of 14.88%. The firm had revenue of $156.81 million during the quarter, compared to the consensus estimate of $154.80 million. As a group, equities analysts expect that OFG Bancorp will post 3.41 earnings per share for the current fiscal year.

OFG Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Friday, December 30th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $0.80 annualized dividend and a yield of 2.89%. OFG Bancorp’s dividend payout ratio is currently 25.56%.

About OFG Bancorp

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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, as well as time deposit products; commercial, consumer, auto, and mortgage lending services; financial planning and insurance services; and corporate and individual trust, and retirement services.