OFG Bancorp (NYSE:OFG) Holdings Lowered by Vanguard Group Inc.

Vanguard Group Inc. cut its stake in OFG Bancorp (NYSE:OFG) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,843,020 shares of the bank’s stock after selling 21,361 shares during the period. Vanguard Group Inc. owned approximately 12.41% of OFG Bancorp worth $218,996,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in OFG. First Trust Advisors LP boosted its stake in OFG Bancorp by 15.4% during the 4th quarter. First Trust Advisors LP now owns 752,740 shares of the bank’s stock valued at $28,213,000 after purchasing an additional 100,661 shares in the last quarter. Goldman Sachs Group Inc. raised its position in OFG Bancorp by 58.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 611,132 shares of the bank’s stock worth $22,905,000 after acquiring an additional 225,666 shares in the last quarter. American Century Companies Inc. lifted its holdings in OFG Bancorp by 9.9% in the 3rd quarter. American Century Companies Inc. now owns 568,693 shares of the bank’s stock valued at $16,981,000 after acquiring an additional 51,391 shares during the last quarter. Deutsche Bank AG boosted its position in shares of OFG Bancorp by 0.8% during the 3rd quarter. Deutsche Bank AG now owns 364,442 shares of the bank’s stock valued at $10,882,000 after purchasing an additional 2,849 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC grew its stake in shares of OFG Bancorp by 94.6% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 196,042 shares of the bank’s stock worth $7,348,000 after purchasing an additional 95,282 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Analysts Set New Price Targets

Separately, Wells Fargo & Company decreased their price target on shares of OFG Bancorp from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th.

OFG Bancorp Trading Up 1.0 %

NYSE:OFG opened at $37.81 on Tuesday. The stock has a fifty day simple moving average of $36.93 and a 200 day simple moving average of $36.43. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 9.67 and a beta of 1.00. OFG Bancorp has a 1-year low of $25.72 and a 1-year high of $39.04.

OFG Bancorp (NYSE:OFG) last announced its earnings results on Thursday, April 18th. The bank reported $1.05 EPS for the quarter, topping the consensus estimate of $0.95 by $0.10. OFG Bancorp had a net margin of 23.00% and a return on equity of 16.10%. The company had revenue of $213.49 million during the quarter, compared to analysts’ expectations of $175.20 million. During the same period last year, the company posted $0.96 earnings per share. Sell-side analysts forecast that OFG Bancorp will post 4.02 earnings per share for the current year.

OFG Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.64%. OFG Bancorp’s payout ratio is currently 25.58%.

Insider Activity

In related news, insider Ganesh Kumar sold 6,695 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $37.93, for a total transaction of $253,941.35. Following the transaction, the insider now directly owns 76,578 shares of the company’s stock, valued at $2,904,603.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.16% of the company’s stock.

OFG Bancorp 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.