Deutsche Bank AG Has $16.04 Million Holdings in OFG Bancorp (NYSE:OFG)

Deutsche Bank AG lifted its holdings in OFG Bancorp (NYSE:OFG) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 379,096 shares of the bank’s stock after purchasing an additional 13,811 shares during the period. Deutsche Bank AG owned 0.83% of OFG Bancorp worth $16,043,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. R Squared Ltd bought a new position in OFG Bancorp in the 4th quarter worth $44,000. Smartleaf Asset Management LLC increased its stake in OFG Bancorp by 196.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank’s stock valued at $44,000 after acquiring an additional 680 shares during the period. Meeder Asset Management Inc. acquired a new position in OFG Bancorp in the fourth quarter valued at about $44,000. Blue Trust Inc. boosted its position in OFG Bancorp by 84.8% in the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the bank’s stock valued at $93,000 after buying an additional 946 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in OFG Bancorp by 736.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,385 shares of the bank’s stock valued at $101,000 after buying an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Insider Buying and Selling

In related news, CFO Maritza Arizmendi sold 5,000 shares of the firm’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $41.44, for a total transaction of $207,200.00. Following the sale, the chief financial officer now owns 63,470 shares of the company’s stock, valued at approximately $2,630,196.80. This trade represents a 7.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.11% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

OFG has been the topic of a number of research reports. Hovde Group reduced their target price on shares of OFG Bancorp from $53.50 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Keefe, Bruyette & Woods reduced their price objective on shares of OFG Bancorp from $53.00 to $48.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Wells Fargo & Company cut shares of OFG Bancorp from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $48.00 to $42.00 in a research report on Wednesday, April 9th. Finally, Piper Sandler reduced their price target on OFG Bancorp from $44.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th.

OFG Bancorp Stock Up 0.7%

NYSE:OFG opened at $42.75 on Friday. OFG Bancorp has a 12-month low of $33.15 and a 12-month high of $47.66. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $1.92 billion, a P/E ratio of 10.13 and a beta of 0.73. The stock’s fifty day simple moving average is $38.88 and its 200-day simple moving average is $41.61.

OFG Bancorp (NYSE:OFG) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.00 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.02). The business had revenue of $178.30 million for the quarter, compared to analyst estimates of $175.35 million. OFG Bancorp had a return on equity of 15.80% and a net margin of 22.71%. During the same period in the previous year, the business posted $1.05 EPS. Equities research analysts expect that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Monday, June 30th. OFG Bancorp’s payout ratio is presently 28.78%.

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.