OFG Bancorp $OFG Shares Sold by Cwm LLC

Cwm LLC reduced its stake in OFG Bancorp (NYSE:OFG) by 21.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,570 shares of the bank’s stock after selling 691 shares during the period. Cwm LLC’s holdings in OFG Bancorp were worth $110,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. KLP Kapitalforvaltning AS raised its holdings in OFG Bancorp by 120.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 19,200 shares of the bank’s stock valued at $827,000 after buying an additional 10,500 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in OFG Bancorp by 9.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,868 shares of the bank’s stock valued at $1,749,000 after buying an additional 3,465 shares during the period. SummerHaven Investment Management LLC raised its holdings in OFG Bancorp by 1.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 20,898 shares of the bank’s stock valued at $894,000 after buying an additional 391 shares during the period. State of Alaska Department of Revenue raised its holdings in OFG Bancorp by 5.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 26,707 shares of the bank’s stock valued at $1,142,000 after buying an additional 1,275 shares during the period. Finally, Wedge Capital Management L L P NC raised its holdings in OFG Bancorp by 1.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 26,409 shares of the bank’s stock valued at $1,130,000 after buying an additional 394 shares during the period. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on OFG. Truist Financial reduced their price objective on shares of OFG Bancorp from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. Wall Street Zen upgraded OFG Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, July 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of OFG Bancorp in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods cut their price target on shares of OFG Bancorp from $51.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. Finally, Zacks Research upgraded shares of OFG Bancorp to a “hold” rating in a research note on Friday, October 10th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.17.

OFG Bancorp Stock Up 1.2%

OFG stock opened at $38.68 on Friday. The company’s 50 day moving average price is $42.88 and its 200 day moving average price is $42.23. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.87 and a current ratio of 0.85. OFG Bancorp has a fifty-two week low of $33.15 and a fifty-two week high of $47.66. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 8.79 and a beta of 0.80.

OFG Bancorp (NYSE:OFG) last released its earnings results on Wednesday, October 22nd. The bank reported $1.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.16. OFG Bancorp had a net margin of 22.26% and a return on equity of 15.18%. The firm had revenue of $184.00 million for the quarter, compared to analyst estimates of $186.71 million. During the same period in the prior year, the firm earned $1.00 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts anticipate that OFG Bancorp will post 4.18 EPS for the current fiscal year.

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.