OFG Bancorp (NYSE:OFG) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in OFG Bancorp (NYSE:OFG) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,061 shares of the bank’s stock after selling 300 shares during the quarter. New York State Teachers Retirement System’s holdings in OFG Bancorp were worth $1,014,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of OFG. Boston Partners increased its stake in OFG Bancorp by 138.5% in 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 period. Deutsche Bank AG increased its stake in OFG Bancorp by 0.8% in 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 period. Affinity Investment Advisors LLC acquired a new position in OFG Bancorp in the 3rd quarter valued at $695,000. Panagora Asset Management Inc. purchased a new stake in shares of OFG Bancorp during the 3rd quarter worth $4,205,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted 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 worth $774,000 after purchasing an additional 1,477 shares in the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Ganesh Kumar sold 15,768 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $35.91, for a total value of $566,228.88. Following the sale, the insider now directly owns 119,037 shares in the company, valued at approximately $4,274,618.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 34,536 shares of company stock worth $1,238,317 in the last three months. Corporate insiders own 3.11% of the company’s stock.

OFG Bancorp Price Performance

Shares of NYSE OFG opened at $33.44 on Friday. The firm has a market capitalization of $1.58 billion, a P/E ratio of 8.75 and a beta of 1.09. OFG Bancorp has a one year low of $22.34 and a one year high of $39.04. The company’s fifty day moving average is $35.79 and its two-hundred day moving average is $34.65. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.83 and a current ratio of 0.84.

OFG Bancorp (NYSE:OFG) last issued its earnings results on Wednesday, January 24th. The bank reported $0.98 EPS for the quarter, topping the consensus estimate of $0.93 by $0.05. OFG Bancorp had a net margin of 23.62% and a return on equity of 16.25%. The company had revenue of $208.26 million for the quarter, compared to analyst estimates of $172.50 million. During the same period in the previous year, the firm earned $0.97 EPS. Analysts forecast that OFG Bancorp will post 3.75 EPS for the current fiscal year.

OFG Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.25 dividend. The ex-dividend date was Wednesday, March 27th. This is a positive change from OFG Bancorp’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a dividend yield of 2.99%. OFG Bancorp’s payout ratio is currently 26.18%.

Wall Street Analyst Weigh In

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

About OFG Bancorp

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.