Axa S.A. Sells 69,727 Shares of OFG Bancorp (NYSE:OFG)

AXA S.A. lessened its position in OFG Bancorp (NYSE:OFG - Free Report) by 90.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,540 shares of the bank's stock after selling 69,727 shares during the period. AXA S.A.'s holdings in OFG Bancorp were worth $319,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Raffles Associates LP increased its position in shares of OFG Bancorp by 8.3% during the fourth quarter. Raffles Associates LP now owns 130,067 shares of the bank's stock worth $5,504,000 after acquiring an additional 10,000 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in shares of OFG Bancorp during the fourth quarter worth $512,000. Lido Advisors LLC increased its position in shares of OFG Bancorp by 36.0% during the fourth quarter. Lido Advisors LLC now owns 8,166 shares of the bank's stock worth $348,000 after acquiring an additional 2,162 shares in the last quarter. Northern Trust Corp grew its position in OFG Bancorp by 8.0% in the fourth quarter. Northern Trust Corp now owns 650,844 shares of the bank's stock valued at $27,544,000 after purchasing an additional 48,442 shares in the last quarter. Finally, Tudor Investment Corp ET AL grew its position in OFG Bancorp by 139.1% in the fourth quarter. Tudor Investment Corp ET AL now owns 176,517 shares of the bank's stock valued at $7,470,000 after purchasing an additional 102,680 shares in the last quarter. Institutional investors own 92.73% of the company's stock.

OFG Bancorp Stock Performance

OFG stock traded down $0.18 during trading hours on Friday, reaching $42.67. The stock had a trading volume of 50,020 shares, compared to its average volume of 307,942. The stock has a 50-day simple moving average of $38.88 and a 200 day simple moving average of $41.61. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.85 and a quick ratio of 0.86. The stock has a market capitalization of $1.92 billion, a PE ratio of 10.10 and a beta of 0.73. OFG Bancorp has a fifty-two week low of $33.15 and a fifty-two week high of $47.66.

OFG Bancorp (NYSE:OFG - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.02 by ($0.02). The company 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 quarter in the prior year, the business posted $1.05 EPS. Analysts predict that OFG Bancorp will post 4.18 EPS for the current fiscal year.

OFG Bancorp Dividend Announcement

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

Insider Transactions at OFG Bancorp

In related news, CFO Maritza Arizmendi sold 5,000 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $41.44, for a total transaction of $207,200.00. Following the transaction, the chief financial officer now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.11% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wells Fargo & Company downgraded shares of OFG Bancorp from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $48.00 to $42.00 in a research report on Wednesday, April 9th. Hovde Group decreased their target price on shares of OFG Bancorp from $53.50 to $50.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Keefe, Bruyette & Woods decreased their target price on shares of OFG Bancorp from $53.00 to $48.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Finally, Piper Sandler decreased their target price on shares of OFG Bancorp from $44.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th.

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.