Point72 Asia Singapore Pte. Ltd. Has $61,000 Holdings in OFG Bancorp (NYSE:OFG)

Point72 Asia Singapore Pte. Ltd. decreased its position in OFG Bancorp (NYSE:OFG) by 36.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,633 shares of the bank’s stock after selling 922 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in OFG Bancorp were worth $61,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OFG. New Millennium Group LLC acquired a new stake in shares of OFG Bancorp in the second quarter worth $30,000. CWM LLC boosted its position in OFG Bancorp by 147.1% during the 2nd quarter. CWM LLC now owns 1,868 shares of the bank’s stock worth $70,000 after acquiring an additional 1,112 shares during the period. 1620 Investment Advisors Inc. purchased a new position in OFG Bancorp during the 2nd quarter valued at about $90,000. EntryPoint Capital LLC acquired a new position in shares of OFG Bancorp in the 1st quarter valued at about $121,000. Finally, Lazard Asset Management LLC lifted its position in shares of OFG Bancorp by 206.6% in the first quarter. Lazard Asset Management LLC now owns 4,161 shares of the bank’s stock worth $153,000 after purchasing an additional 2,804 shares in the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OFG has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of OFG Bancorp from $40.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Hovde Group upped their price target on shares of OFG Bancorp from $44.00 to $51.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Finally, Piper Sandler started coverage on OFG Bancorp in a research report on Monday, August 26th. They set an “overweight” rating and a $49.00 price objective for the company.

Insider Activity at OFG Bancorp

In other OFG Bancorp news, Director Jorge Colon sold 33,081 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $45.73, for a total transaction of $1,512,794.13. Following the completion of the sale, the director now owns 70,919 shares of the company’s stock, valued at $3,243,125.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.11% of the stock is owned by company insiders.

OFG Bancorp Price Performance

Shares of OFG opened at $44.41 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $2.09 billion, a PE ratio of 11.36 and a beta of 0.99. The firm’s 50 day moving average price is $44.06 and its 200 day moving average price is $39.37. OFG Bancorp has a twelve month low of $28.32 and a twelve month high of $47.57.

OFG Bancorp (NYSE:OFG) last issued its quarterly earnings data 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 firm had revenue of $179.40 million during the quarter, compared to analysts’ expectations of $176.09 million. OFG Bancorp had a net margin of 22.95% and a return on equity of 16.25%. OFG Bancorp’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.93 earnings per share. As a group, research analysts expect that OFG Bancorp will post 4.27 EPS for the current fiscal year.

OFG Bancorp Dividend Announcement

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

About OFG Bancorp

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.