OFG Bancorp (NYSE:OFG) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets decreased its stake in shares of OFG Bancorp (NYSE:OFG) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,107 shares of the bank’s stock after selling 2,195 shares during the period. BNP Paribas Financial Markets owned approximately 0.07% of OFG Bancorp worth $1,401,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC grew its stake in shares of OFG Bancorp by 196.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank’s stock worth $44,000 after purchasing an additional 680 shares during the last quarter. R Squared Ltd acquired a new position in shares of OFG Bancorp in the 4th quarter worth approximately $44,000. Meeder Asset Management Inc. acquired a new position in shares of OFG Bancorp in the 4th quarter worth approximately $44,000. Blue Trust Inc. grew its stake in shares of OFG Bancorp by 84.8% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the bank’s stock worth $93,000 after purchasing an additional 946 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of OFG Bancorp by 736.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,385 shares of the bank’s stock worth $101,000 after purchasing an additional 2,100 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Insider Activity

In other news, CFO Maritza Arizmendi sold 5,000 shares of the business’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $41.44, for a total value 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.11% of the stock is owned by corporate insiders.

OFG Bancorp Price Performance

Shares of OFG Bancorp stock opened at $42.53 on Tuesday. The firm has a fifty day simple moving average of $39.02 and a 200-day simple moving average of $41.65. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. OFG Bancorp has a 1-year low of $33.15 and a 1-year high of $47.66. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 10.08 and a beta of 0.73.

OFG Bancorp (NYSE:OFG) last announced its earnings results on Wednesday, April 23rd. The bank reported $1.00 earnings per share (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 company had revenue of $178.30 million for the quarter, compared to the consensus estimate of $175.35 million. During the same period last year, the firm posted $1.05 EPS. On average, sell-side analysts expect that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Announces Dividend

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 paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.20 annualized dividend and a dividend yield of 2.82%. OFG Bancorp’s dividend payout ratio is presently 28.78%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Hovde Group dropped their target price on shares of OFG Bancorp from $53.50 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Piper Sandler dropped their target price on shares of OFG Bancorp from $44.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company cut shares of 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, Keefe, Bruyette & Woods decreased their price target on shares of OFG Bancorp from $53.00 to $48.00 and set an “outperform” rating for the company in a report on Thursday, April 24th.

OFG Bancorp Company 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.