OFG Bancorp (NYSE:OFG) Shares Sold by Centiva Capital LP

Centiva Capital LP cut its holdings in shares of OFG Bancorp (NYSE:OFG - Free Report) by 51.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,149 shares of the bank's stock after selling 7,443 shares during the period. Centiva Capital LP's holdings in OFG Bancorp were worth $303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its stake in shares of OFG Bancorp by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,652,224 shares of the bank's stock worth $69,922,000 after purchasing an additional 14,618 shares during the period. American Century Companies Inc. boosted its holdings in OFG Bancorp by 8.3% during the fourth quarter. American Century Companies Inc. now owns 1,167,849 shares of the bank's stock worth $49,423,000 after buying an additional 89,450 shares in the last quarter. JPMorgan Chase & Co. grew its position in OFG Bancorp by 5.0% during the fourth quarter. JPMorgan Chase & Co. now owns 894,049 shares of the bank's stock valued at $37,836,000 after buying an additional 42,335 shares during the period. Northern Trust Corp increased its holdings 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 buying an additional 48,442 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in OFG Bancorp by 1.7% in the fourth quarter. Russell Investments Group Ltd. now owns 259,232 shares of the bank's stock valued at $10,971,000 after buying an additional 4,353 shares in the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

OFG Bancorp Price Performance

Shares of NYSE OFG traded down $0.33 during trading on Friday, hitting $42.52. The company had a trading volume of 252,029 shares, compared to its average volume of 308,733. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 10.08 and a beta of 0.73. The stock has a fifty day simple moving average of $38.88 and a two-hundred day simple moving average of $41.61. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. 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 quarterly earnings data on Wednesday, April 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.02). OFG Bancorp had a return on equity of 15.80% and a net margin of 22.71%. The firm had revenue of $178.30 million during the quarter, compared to analyst estimates of $175.35 million. During the same quarter in the previous year, the firm posted $1.05 earnings per share. On average, research analysts expect that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Monday, June 30th. OFG Bancorp's dividend payout ratio is presently 28.78%.

Insider Buying and Selling

In related news, CFO Maritza Arizmendi sold 5,000 shares of the business'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 in the company, valued at approximately $2,630,196.80. The trade was a 7.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on OFG shares. Keefe, Bruyette & Woods lowered their target price 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. Hovde Group lowered their price target on OFG Bancorp from $53.50 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company cut OFG Bancorp from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $48.00 to $42.00 in a research report on Wednesday, April 9th. Finally, Piper Sandler reduced their target price on OFG Bancorp from $44.00 to $42.00 and set an "overweight" rating for the company in a research note 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.