Nisa Investment Advisors LLC Sells 985 Shares of OFG Bancorp (NYSE:OFG)

Nisa Investment Advisors LLC lowered its position in OFG Bancorp (NYSE:OFG) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,885 shares of the bank’s stock after selling 985 shares during the quarter. Nisa Investment Advisors LLC owned approximately 0.13% of OFG Bancorp worth $2,207,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Boston Partners lifted its stake in OFG Bancorp by 138.5% in the third quarter. Boston Partners now owns 29,518 shares of the bank’s stock valued at $881,000 after acquiring an additional 17,141 shares during the last quarter. Deutsche Bank AG lifted its stake in OFG Bancorp by 0.8% in the third quarter. Deutsche Bank AG now owns 364,442 shares of the bank’s stock valued at $10,882,000 after acquiring an additional 2,849 shares during the last quarter. Affinity Investment Advisors LLC acquired a new stake in OFG Bancorp in the third quarter valued at $695,000. Panagora Asset Management Inc. acquired a new stake in OFG Bancorp in the third quarter valued at $4,205,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in OFG Bancorp by 6.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,920 shares of the bank’s stock valued at $774,000 after acquiring an additional 1,477 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Insiders Place Their Bets

In other OFG Bancorp news, insider Ganesh Kumar sold 9,071 shares of OFG Bancorp stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $35.18, for a total value of $319,117.78. Following the completion of the sale, the insider now owns 144,502 shares in the company, valued at approximately $5,083,580.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 34,536 shares of company stock worth $1,238,317 in the last quarter. 3.11% of the stock is currently owned by corporate insiders.

OFG Bancorp Stock Performance

NYSE OFG opened at $34.37 on Friday. The firm has a 50-day moving average of $35.99 and a 200-day moving average of $34.57. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a market cap of $1.62 billion, a PE ratio of 9.00 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 Wednesday, January 24th. The bank reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. The company had revenue of $208.26 million during the quarter, compared to analysts’ expectations of $172.50 million. OFG Bancorp had a net margin of 23.62% and a return on equity of 16.25%. During the same quarter last year, the company posted $0.97 EPS. On average, sell-side analysts anticipate that OFG Bancorp will post 3.75 EPS for the current year.

OFG Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be paid a $0.25 dividend. This is a boost from OFG Bancorp’s previous quarterly dividend of $0.22. The ex-dividend date is Wednesday, March 27th. This represents a $1.00 annualized dividend and a yield of 2.91%. OFG Bancorp’s payout ratio is 26.18%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company cut their price target on shares of OFG Bancorp from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday.

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, 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.