OFG Bancorp (NYSE:OFG) Director Sells $84,620.00 in Stock

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

OFG Bancorp Stock Down 0.2%

Shares of NYSE OFG opened at $42.00 on Thursday. The stock has a market cap of $1.85 billion, a PE ratio of 9.55 and a beta of 0.79. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.33. OFG Bancorp has a 52-week low of $33.15 and a 52-week high of $46.11. The business has a 50-day moving average price of $40.52 and a 200 day moving average price of $42.37.

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

OFG Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. OFG Bancorp’s dividend payout ratio is currently 27.27%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On OFG Bancorp

A number of large investors have recently modified their holdings of OFG. Quarry LP purchased a new stake in shares of OFG Bancorp in the third quarter valued at approximately $35,000. Wealth Enhancement Advisory Services LLC acquired a new stake in OFG Bancorp in the third quarter valued at $53,000. EverSource Wealth Advisors LLC boosted its position in shares of OFG Bancorp by 250.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,533 shares of the bank’s stock worth $66,000 after purchasing an additional 1,095 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of OFG Bancorp during the 2nd quarter worth $97,000. Finally, Quantbot Technologies LP purchased a new position in shares of OFG Bancorp in the 2nd quarter valued at about $162,000. 92.73% of the stock is owned by hedge funds and other institutional investors.

About OFG Bancorp

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.