Jefferies Financial Group Inc. Buys Shares of 9,660 OFG Bancorp (NYSE:OFG)

Jefferies Financial Group Inc. acquired a new position in shares of OFG Bancorp (NYSE:OFG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,660 shares of the bank's stock, valued at approximately $409,000.

A number of other institutional investors and hedge funds have also modified their holdings of OFG. Bank of America Corp DE boosted its stake in OFG Bancorp by 11.0% in the 4th quarter. Bank of America Corp DE now owns 104,179 shares of the bank's stock worth $4,409,000 after purchasing an additional 10,355 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in OFG Bancorp by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,652,224 shares of the bank's stock valued at $69,922,000 after purchasing an additional 14,618 shares during the last quarter. KBC Group NV increased its holdings in shares of OFG Bancorp by 39.7% during the 4th quarter. KBC Group NV now owns 2,620 shares of the bank's stock worth $111,000 after acquiring an additional 745 shares during the last quarter. Barclays PLC raised its position in shares of OFG Bancorp by 83.6% in the third quarter. Barclays PLC now owns 96,045 shares of the bank's stock valued at $4,314,000 after purchasing an additional 43,738 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of OFG Bancorp by 21.0% during the fourth quarter. Victory Capital Management Inc. now owns 204,971 shares of the bank's stock worth $8,674,000 after acquiring an additional 35,561 shares during the period. 92.73% of the stock is owned by institutional investors.

OFG Bancorp Stock Down 0.4%

OFG stock traded down $0.17 during midday trading on Wednesday, hitting $41.26. The stock had a trading volume of 170,700 shares, compared to its average volume of 310,576. OFG Bancorp has a 52-week low of $33.15 and a 52-week high of $47.66. The business has a 50-day moving average of $39.24 and a two-hundred day moving average of $41.49. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 9.78 and a beta of 0.75. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.85 and a quick ratio of 0.86.

OFG Bancorp (NYSE:OFG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.00 earnings per share for the quarter, missing analysts' consensus estimates of $1.02 by ($0.02). The firm had revenue of $178.30 million for the quarter, compared to analysts' expectations of $175.35 million. OFG Bancorp had a net margin of 22.71% and a return on equity of 15.80%. During the same quarter in the previous year, the business earned $1.05 EPS. As a group, equities research analysts forecast that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.91%. The ex-dividend date is Monday, June 30th. OFG Bancorp's dividend payout ratio is presently 28.78%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

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

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.