Jane Street Group LLC Decreases Stock Position in OFG Bancorp (NYSE:OFG)

Jane Street Group LLC cut its stake in OFG Bancorp (NYSE:OFG) by 51.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,876 shares of the bank’s stock after selling 42,327 shares during the period. Jane Street Group LLC owned about 0.09% of OFG Bancorp worth $1,688,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. TD Waterhouse Canada Inc. boosted its holdings in OFG Bancorp by 1.8% in the fourth quarter. TD Waterhouse Canada Inc. now owns 21,041 shares of the bank’s stock valued at $890,000 after purchasing an additional 369 shares during the period. Prudential Financial Inc. boosted its holdings in OFG Bancorp by 0.5% in the fourth quarter. Prudential Financial Inc. now owns 67,999 shares of the bank’s stock valued at $2,878,000 after purchasing an additional 370 shares during the period. Bank of Montreal Can boosted its holdings in OFG Bancorp by 9.0% in the fourth quarter. Bank of Montreal Can now owns 5,295 shares of the bank’s stock valued at $224,000 after purchasing an additional 438 shares during the period. Smartleaf Asset Management LLC lifted its holdings in OFG Bancorp by 196.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank’s stock worth $44,000 after buying an additional 680 shares during the last quarter. Finally, KBC Group NV lifted its holdings in OFG Bancorp by 39.7% during the 4th quarter. KBC Group NV now owns 2,620 shares of the bank’s stock worth $111,000 after buying an additional 745 shares during the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OFG has been the subject of a number of recent analyst reports. Piper Sandler decreased their price target on OFG Bancorp from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Keefe, Bruyette & Woods decreased their price target on OFG Bancorp from $53.00 to $48.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Wells Fargo & Company downgraded OFG Bancorp from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $48.00 to $42.00 in a report on Wednesday, April 9th. Finally, Hovde Group decreased their price target on OFG Bancorp from $53.50 to $50.00 and set an “outperform” rating for the company in a report on Thursday, April 24th.

Insider Transactions at OFG Bancorp

In other news, CFO Maritza Arizmendi sold 5,000 shares of OFG Bancorp stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $41.44, for a total transaction of $207,200.00. Following the sale, the chief financial officer now owns 63,470 shares in the company, valued at approximately $2,630,196.80. The trade was a 7.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.11% of the company’s stock.

OFG Bancorp Stock Down 0.8%

OFG opened at $42.52 on Friday. The business’s 50-day simple moving average is $38.96 and its 200-day simple moving average is $41.63. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.85. OFG Bancorp has a one year low of $33.15 and a one year high of $47.66. The stock has a market capitalization of $1.91 billion, a P/E ratio of 10.08 and a beta of 0.73.

OFG Bancorp (NYSE:OFG) last posted its earnings results on Wednesday, April 23rd. The bank reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.02). OFG Bancorp had a return on equity of 15.80% and a net margin of 22.71%. The firm had revenue of $178.30 million for the quarter, compared to analyst estimates of $175.35 million. During the same quarter last year, the firm posted $1.05 EPS. Analysts anticipate that OFG Bancorp will post 4.18 EPS for the current year.

OFG Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Monday, June 30th. OFG Bancorp’s dividend payout ratio (DPR) is currently 28.78%.

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.