Arizona State Retirement System Sells 357 Shares of OFG Bancorp (NYSE:OFG)

Arizona State Retirement System reduced its position in shares of OFG Bancorp (NYSE:OFG) by 2.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 13,175 shares of the bank’s stock after selling 357 shares during the quarter. Arizona State Retirement System’s holdings in OFG Bancorp were worth $494,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of OFG. JPMorgan Chase & Co. boosted its holdings in OFG Bancorp by 0.5% in the 1st quarter. JPMorgan Chase & Co. now owns 498,246 shares of the bank’s stock valued at $13,272,000 after purchasing an additional 2,368 shares during the period. Citigroup Inc. boosted its holdings in OFG Bancorp by 13.6% in the 1st quarter. Citigroup Inc. now owns 44,861 shares of the bank’s stock valued at $1,195,000 after purchasing an additional 5,356 shares during the period. Natixis Advisors L.P. boosted its holdings in OFG Bancorp by 1.7% in the 1st quarter. Natixis Advisors L.P. now owns 27,562 shares of the bank’s stock valued at $734,000 after purchasing an additional 465 shares during the period. MetLife Investment Management LLC boosted its holdings in OFG Bancorp by 56.6% in the 1st quarter. MetLife Investment Management LLC now owns 28,010 shares of the bank’s stock valued at $746,000 after purchasing an additional 10,126 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in OFG Bancorp by 13.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 42,791 shares of the bank’s stock valued at $1,140,000 after purchasing an additional 5,117 shares during the period. 92.73% of the stock is owned by institutional investors.

OFG Bancorp Trading Up 4.1 %

Shares of OFG stock opened at $34.81 on Friday. OFG Bancorp has a 52-week low of $22.34 and a 52-week high of $39.04. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 9.11 and a beta of 1.09. 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 firm has a fifty day moving average of $35.76 and a 200-day moving average of $34.68.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings data on Thursday, April 18th. The bank reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.10. OFG Bancorp had a net margin of 23.62% and a return on equity of 16.25%. The company had revenue of $213.49 million during the quarter, compared to analysts’ expectations of $175.20 million. During the same quarter in the prior year, the company posted $0.96 EPS. On average, equities research analysts forecast that OFG Bancorp will post 3.75 earnings per share for the current fiscal year.

OFG Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.87%. This is a boost from OFG Bancorp’s previous quarterly dividend of $0.22. OFG Bancorp’s dividend payout ratio (DPR) is 26.18%.

Analyst Ratings Changes

Separately, Wells Fargo & Company dropped their price objective 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, April 10th.

Insider Buying and Selling

In related news, insider Ganesh Kumar sold 9,071 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $35.18, for a total transaction 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 at 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 owned by corporate insiders.

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.