OFG Bancorp (NYSE:OFG) Stock Position Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in shares of OFG Bancorp (NYSE:OFG) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 549,294 shares of the bank’s stock after selling 5,212 shares during the period. Bank of New York Mellon Corp owned approximately 1.15% of OFG Bancorp worth $13,699,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in shares of OFG Bancorp by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,908,669 shares of the bank’s stock worth $107,723,000 after purchasing an additional 82,752 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its position in shares of OFG Bancorp by 8.2% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 55,704 shares of the bank’s stock valued at $1,389,000 after acquiring an additional 4,205 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its position in shares of OFG Bancorp by 4.2% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 32,000 shares of the bank’s stock valued at $798,000 after acquiring an additional 1,300 shares during the last quarter. National Bank of Canada FI bought a new stake in shares of OFG Bancorp during the 1st quarter worth $398,000. Finally, Brandywine Global Investment Management LLC grew its holdings in shares of OFG Bancorp by 62.4% in the 4th quarter. Brandywine Global Investment Management LLC now owns 65,756 shares of the bank’s stock worth $1,812,000 after acquiring an additional 25,274 shares during the last quarter. 91.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling at OFG Bancorp

In other news, insider Ganesh Kumar sold 7,812 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $33.75, for a total transaction of $263,655.00. Following the transaction, the insider now directly owns 141,921 shares in the company, valued at approximately $4,789,833.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Ganesh Kumar sold 7,812 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $33.75, for a total transaction of $263,655.00. Following the completion of the sale, the insider now directly owns 141,921 shares of the company’s stock, valued at approximately $4,789,833.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jose Rafael Fernandez sold 7,472 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $33.74, for a total value of $252,105.28. Following the completion of the sale, the chief executive officer now directly owns 458,388 shares of the company’s stock, valued at approximately $15,466,011.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 122,517 shares of company stock worth $3,967,215. 3.11% of the stock is currently owned by company insiders.

OFG Bancorp Price Performance

OFG opened at $30.27 on Thursday. The firm has a market capitalization of $1.43 billion, a P/E ratio of 8.12 and a beta of 1.05. The stock has a fifty day moving average of $30.16 and a 200-day moving average of $27.51. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. OFG Bancorp has a 12-month low of $22.34 and a 12-month high of $34.30.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.09. OFG Bancorp had a return on equity of 16.92% and a net margin of 25.19%. The firm had revenue of $170.50 million during the quarter, compared to the consensus estimate of $163.50 million. Equities analysts forecast that OFG Bancorp will post 3.74 EPS for the current fiscal year.

OFG Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Thursday, September 28th. OFG Bancorp’s payout ratio is presently 23.59%.

Analyst Ratings Changes

A number of research firms recently weighed in on OFG. StockNews.com initiated coverage on OFG Bancorp in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Wells Fargo & Company raised their target price on shares of OFG Bancorp from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, July 21st.

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