MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Stake in OFG Bancorp (NYSE:OFG)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of OFG Bancorp (NYSE:OFG) by 3.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,167 shares of the bank’s stock after acquiring an additional 990 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.06% of OFG Bancorp worth $1,107,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its holdings in OFG Bancorp by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,652,224 shares of the bank’s stock worth $69,922,000 after purchasing an additional 14,618 shares in the last quarter. KBC Group NV grew its position in shares of OFG Bancorp by 39.7% in the 4th quarter. KBC Group NV now owns 2,620 shares of the bank’s stock valued at $111,000 after buying an additional 745 shares during the last quarter. Barclays PLC raised its stake in OFG Bancorp by 83.6% during the 3rd quarter. Barclays PLC now owns 96,045 shares of the bank’s stock worth $4,314,000 after acquiring an additional 43,738 shares in the last quarter. Victory Capital Management Inc. lifted its position in OFG Bancorp by 21.0% in the fourth quarter. Victory Capital Management Inc. now owns 204,971 shares of the bank’s stock valued at $8,674,000 after acquiring an additional 35,561 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in OFG Bancorp by 61.8% in the fourth quarter. Renaissance Technologies LLC now owns 84,600 shares of the bank’s stock valued at $3,580,000 after acquiring an additional 32,300 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Maritza Arizmendi sold 5,000 shares of the firm’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $41.44, for a total value of $207,200.00. Following the completion of the sale, the chief financial officer now owns 63,470 shares in the company, valued at $2,630,196.80. This trade represents a 7.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.11% of the stock is currently owned by insiders.

OFG Bancorp Stock Up 0.4%

OFG Bancorp stock opened at $41.51 on Monday. The stock has a 50 day moving average of $39.13 and a two-hundred day moving average of $41.62. OFG Bancorp has a twelve month low of $33.15 and a twelve month high of $47.66. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 9.84 and a beta of 0.73. 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 (NYSE:OFG) last announced its quarterly earnings data 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 analysts’ expectations of $175.35 million. During the same quarter in the previous year, the company posted $1.05 EPS. As a group, research analysts expect that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Monday, June 30th. OFG Bancorp’s dividend payout ratio is presently 28.78%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OFG. Keefe, Bruyette & Woods dropped their price objective on OFG Bancorp from $53.00 to $48.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company lowered OFG Bancorp from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $48.00 to $42.00 in a research report on Wednesday, April 9th. Piper Sandler decreased their price objective on OFG Bancorp from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Finally, Hovde Group cut their target price on shares of OFG Bancorp from $53.50 to $50.00 and set an “outperform” rating on the stock 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.