XTX Topco Ltd Purchases 566 Shares of OFG Bancorp (NYSE:OFG)

XTX Topco Ltd raised its stake in OFG Bancorp (NYSE:OFG) by 7.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,974 shares of the bank’s stock after purchasing an additional 566 shares during the quarter. XTX Topco Ltd’s holdings in OFG Bancorp were worth $299,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Arizona State Retirement System raised its stake in shares of OFG Bancorp by 1.9% in the second quarter. Arizona State Retirement System now owns 13,180 shares of the bank’s stock worth $494,000 after purchasing an additional 247 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of OFG Bancorp by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the bank’s stock worth $884,000 after purchasing an additional 300 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in shares of OFG Bancorp by 1.6% in the second quarter. SummerHaven Investment Management LLC now owns 26,733 shares of the bank’s stock worth $1,001,000 after purchasing an additional 412 shares during the last quarter. Texas Permanent School Fund Corp raised its stake in shares of OFG Bancorp by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 41,191 shares of the bank’s stock worth $1,516,000 after purchasing an additional 540 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of OFG Bancorp by 0.4% in the second quarter. Rhumbline Advisers now owns 140,512 shares of the bank’s stock worth $5,262,000 after purchasing an additional 568 shares during the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

OFG Bancorp Stock Performance

Shares of OFG opened at $44.41 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 11.36 and a beta of 0.99. The stock has a 50 day moving average of $44.06 and a 200 day moving average of $39.33. OFG Bancorp has a 12 month low of $28.32 and a 12 month high of $47.57.

OFG Bancorp (NYSE:OFG) last released its 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. OFG Bancorp had a return on equity of 16.25% and a net margin of 22.95%. The business had revenue of $179.40 million during the quarter, compared to the consensus estimate of $176.09 million. During the same period last year, the business posted $0.93 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, sell-side analysts forecast that OFG Bancorp will post 4.27 earnings per share for the current year.

OFG Bancorp Dividend Announcement

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

Analyst Ratings Changes

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

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.