American Century Companies Inc. Purchases 136,813 Shares of OFG Bancorp (NYSE:OFG)

American Century Companies Inc. grew its position in shares of OFG Bancorp (NYSE:OFG) by 16.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 966,945 shares of the bank’s stock after acquiring an additional 136,813 shares during the quarter. American Century Companies Inc.’s holdings in OFG Bancorp were worth $36,212,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. New Millennium Group LLC bought a new position in OFG Bancorp during the second quarter valued at $30,000. CWM LLC raised its position in shares of OFG Bancorp by 147.1% during the 2nd quarter. CWM LLC now owns 1,868 shares of the bank’s stock valued at $70,000 after buying an additional 1,112 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in OFG Bancorp in the second quarter worth about $90,000. EntryPoint Capital LLC purchased a new position in OFG Bancorp in the first quarter worth about $121,000. Finally, Lazard Asset Management LLC increased its stake in OFG Bancorp by 206.6% during the first quarter. Lazard Asset Management LLC now owns 4,161 shares of the bank’s stock worth $153,000 after acquiring an additional 2,804 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OFG. Hovde Group lifted their target price on OFG Bancorp from $44.00 to $51.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Piper Sandler started coverage on shares of OFG Bancorp in a research report on Monday, August 26th. They set an “overweight” rating and a $49.00 price objective on the stock. Finally, Wells Fargo & Company raised their target price on shares of OFG Bancorp from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd.

OFG Bancorp Trading Up 0.3 %

OFG stock opened at $44.39 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $2.07 billion, a PE ratio of 11.35 and a beta of 0.99. The firm’s 50-day moving average is $43.37 and its 200 day moving average is $38.89. OFG Bancorp has a 12 month low of $28.18 and a 12 month high of $47.57.

OFG Bancorp (NYSE:OFG) last posted its quarterly earnings results on Thursday, July 18th. The bank reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.12. The business had revenue of $179.40 million for the quarter, compared to the consensus estimate of $176.09 million. OFG Bancorp had a return on equity of 16.25% and a net margin of 22.95%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.93 EPS. On average, research analysts anticipate that OFG Bancorp will post 4.27 EPS for the current year.

OFG Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.25 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 2.25%. OFG Bancorp’s dividend payout ratio is currently 25.58%.

Insider Transactions at OFG Bancorp

In related news, Director Jorge Colon sold 33,081 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $45.73, for a total value of $1,512,794.13. Following the completion of the transaction, the director now owns 70,919 shares of the company’s stock, valued at $3,243,125.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.11% of the company’s stock.

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.