OFG Bancorp (NYSE:OFG) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lessened its position in shares of OFG Bancorp (NYSE:OFGFree Report) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,848 shares of the bank’s stock after selling 493 shares during the quarter. Franklin Resources Inc. owned approximately 0.08% of OFG Bancorp worth $1,419,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OFG. SummerHaven Investment Management LLC grew its position in shares of OFG Bancorp by 1.1% during the 4th quarter. SummerHaven Investment Management LLC now owns 26,059 shares of the bank’s stock valued at $977,000 after acquiring an additional 295 shares during the period. SG Americas Securities LLC grew its holdings in OFG Bancorp by 1.5% in the fourth quarter. SG Americas Securities LLC now owns 22,002 shares of the bank’s stock valued at $825,000 after purchasing an additional 329 shares during the period. Natixis Advisors L.P. increased its position in shares of OFG Bancorp by 1.9% in the fourth quarter. Natixis Advisors L.P. now owns 29,743 shares of the bank’s stock valued at $1,114,000 after buying an additional 546 shares in the last quarter. Swiss National Bank raised its stake in shares of OFG Bancorp by 0.6% during the 3rd quarter. Swiss National Bank now owns 104,400 shares of the bank’s stock worth $3,117,000 after buying an additional 600 shares during the period. Finally, Diversified Trust Co lifted its position in shares of OFG Bancorp by 6.3% during the 4th quarter. Diversified Trust Co now owns 13,308 shares of the bank’s stock valued at $499,000 after buying an additional 787 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Insider Transactions at OFG Bancorp

In related news, insider Ganesh Kumar sold 6,695 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $37.93, for a total transaction of $253,941.35. Following the completion of the sale, the insider now owns 76,578 shares of the company’s stock, valued at approximately $2,904,603.54. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 61,305 shares of company stock valued at $2,255,071. Corporate insiders own 2.16% of the company’s stock.

Wall Street Analyst Weigh In

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 report on Wednesday, April 10th.

Get Our Latest Research Report on OFG Bancorp

OFG Bancorp Trading Down 1.0 %

OFG stock opened at $36.05 on Wednesday. OFG Bancorp has a 12-month low of $25.25 and a 12-month high of $39.04. The business’s 50-day moving average is $36.40 and its 200 day moving average is $36.17. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 9.22 and a beta of 1.07.

OFG Bancorp (NYSE:OFGGet Free Report) last issued its quarterly earnings results on Thursday, April 18th. The bank reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.10. OFG Bancorp had a return on equity of 16.10% and a net margin of 23.00%. The firm had revenue of $213.49 million for the quarter, compared to analyst estimates of $175.20 million. During the same period in the previous year, the company posted $0.96 earnings per share. On average, sell-side analysts anticipate that OFG Bancorp will post 4.02 EPS for the current fiscal year.

OFG Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, June 28th. OFG Bancorp’s dividend payout ratio (DPR) is 25.58%.

OFG Bancorp Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for OFG Bancorp (NYSE:OFG)

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