OFG Bancorp (NYSE:OFG) Director Jesus Nestor De Sells 2,000 Shares

OFG Bancorp (NYSE:OFG) Director Jesus Nestor De sold 2,000 shares of the firm’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $42.31, for a total transaction of $84,620.00. Following the transaction, the director owned 22,690 shares in the company, valued at $960,013.90. This represents a 8.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

OFG Bancorp Trading Down 0.0%

Shares of NYSE:OFG opened at $42.28 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $1.86 billion, a PE ratio of 9.61 and a beta of 0.78. OFG Bancorp has a 1 year low of $33.15 and a 1 year high of $46.11. The firm has a fifty day moving average price of $40.56 and a 200 day moving average price of $42.37.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings results on Wednesday, October 22nd. The bank reported $1.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.16. The company had revenue of $186.18 million during the quarter, compared to analysts’ expectations of $186.71 million. OFG Bancorp had a return on equity of 15.18% and a net margin of 22.26%.The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.00 earnings per share. Analysts expect that OFG Bancorp will post 4.18 EPS for the current fiscal year.

OFG Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. OFG Bancorp’s dividend payout ratio is presently 27.27%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on OFG shares. Keefe, Bruyette & Woods reduced their price objective on shares of OFG Bancorp from $51.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, October 23rd. Zacks Research lowered shares of OFG Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 16th. Truist Financial decreased their price target on shares of OFG Bancorp from $50.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of OFG Bancorp in a research note on Monday, December 15th. Finally, Wells Fargo & Company cut their price target on OFG Bancorp from $48.00 to $43.00 and set an “equal weight” rating for the company in a report on Monday, October 27th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, OFG Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $47.17.

Hedge Funds Weigh In On OFG Bancorp

Several large investors have recently added to or reduced their stakes in OFG. Hsbc Holdings PLC grew its holdings in shares of OFG Bancorp by 76.3% during the 1st quarter. Hsbc Holdings PLC now owns 27,083 shares of the bank’s stock worth $1,083,000 after purchasing an additional 11,725 shares in the last quarter. Penn Capital Management Company LLC bought a new position in OFG Bancorp in the first quarter worth $726,000. Caisse DE Depot ET Placement DU Quebec acquired a new stake in OFG Bancorp during the first quarter worth $1,237,000. Elizabeth Park Capital Advisors Ltd. increased its holdings in OFG Bancorp by 32.8% in the 1st quarter. Elizabeth Park Capital Advisors Ltd. now owns 66,049 shares of the bank’s stock valued at $2,643,000 after buying an additional 16,330 shares during the period. Finally, Vident Advisory LLC acquired a new position in shares of OFG Bancorp in the 1st quarter valued at $210,000. Institutional investors and hedge funds own 92.73% of the company’s stock.

OFG Bancorp Company Profile

OFG Bancorp, through its principal subsidiary Oriental Bank, is a financial holding company headquartered in San Juan, Puerto Rico. The company provides a wide range of banking services, including commercial and consumer deposit accounts, small business loans, corporate lending, treasury management, and cash management solutions. Its consumer offerings encompass personal checking and savings accounts, credit cards, and electronic banking platforms designed to serve retail customers across its markets.

In addition to traditional banking products, OFG Bancorp offers mortgage origination and servicing, as well as wealth management and trust services for high‐net‐worth individuals and institutional clients.