OFG Bancorp (NYSE:OFG) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG increased its stake in OFG Bancorp (NYSE:OFG - Free Report) by 3.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 379,096 shares of the bank's stock after acquiring an additional 13,811 shares during the quarter. Deutsche Bank AG owned approximately 0.83% of OFG Bancorp worth $16,043,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in 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 in the last quarter. American Century Companies Inc. increased its position in shares of OFG Bancorp by 8.3% in the fourth quarter. American Century Companies Inc. now owns 1,167,849 shares of the bank's stock valued at $49,423,000 after buying an additional 89,450 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of OFG Bancorp by 5.0% in the fourth quarter. JPMorgan Chase & Co. now owns 894,049 shares of the bank's stock worth $37,836,000 after acquiring an additional 42,335 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of OFG Bancorp by 8.0% during the fourth quarter. Northern Trust Corp now owns 650,844 shares of the bank's stock worth $27,544,000 after purchasing an additional 48,442 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of OFG Bancorp by 1.7% during the 4th quarter. Russell Investments Group Ltd. now owns 259,232 shares of the bank's stock worth $10,971,000 after buying an additional 4,353 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other OFG Bancorp news, CFO Maritza Arizmendi sold 5,000 shares of OFG Bancorp 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 completion of the sale, the chief financial officer now directly owns 63,470 shares of the company's stock, valued at $2,630,196.80. The trade was a 7.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.11% of the stock is currently owned by company insiders.

OFG Bancorp Price Performance

OFG Bancorp stock remained flat at $42.53 during mid-day trading on Monday. The company's stock had a trading volume of 236,985 shares, compared to its average volume of 309,907. OFG Bancorp has a 12-month low of $33.15 and a 12-month high of $47.66. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 10.08 and a beta of 0.73. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The firm's 50 day simple moving average is $38.96 and its two-hundred day simple moving average is $41.64.

OFG Bancorp (NYSE:OFG - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $178.30 million during the quarter, compared to analyst estimates of $175.35 million. OFG Bancorp had a net margin of 22.71% and a return on equity of 15.80%. During the same period last year, the firm posted $1.05 earnings per share. Sell-side analysts anticipate that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.30 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.20 annualized dividend and a yield of 2.82%. OFG Bancorp's payout ratio is currently 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.