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

Jefferies Financial Group Inc. acquired a new position in OFG Bancorp (NYSE:OFG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,660 shares of the bank's stock, valued at approximately $409,000.

Several other institutional investors have also added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of OFG Bancorp by 83.6% during the third quarter. Barclays PLC now owns 96,045 shares of the bank's stock valued at $4,314,000 after buying an additional 43,738 shares during the last quarter. Blue Trust Inc. grew its position in OFG Bancorp by 84.8% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the bank's stock valued at $93,000 after acquiring an additional 946 shares during the last quarter. KBC Group NV grew its position in OFG Bancorp by 39.7% in the 4th quarter. KBC Group NV now owns 2,620 shares of the bank's stock valued at $111,000 after acquiring an additional 745 shares during the last quarter. R Squared Ltd purchased a new stake in OFG Bancorp in the fourth quarter worth $44,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of OFG Bancorp by 17.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,701 shares of the bank's stock worth $1,456,000 after purchasing an additional 5,041 shares during the last quarter. Institutional investors own 92.73% of the company's stock.

OFG Bancorp Stock Down 0.5%

NYSE OFG traded down $0.20 during midday trading on Wednesday, hitting $41.23. 45,877 shares of the company traded hands, compared to its average volume of 309,758. OFG Bancorp has a 52 week low of $33.15 and a 52 week high of $47.66. The company's 50-day simple moving average is $39.22 and its 200-day simple moving average is $41.49. The company has a market cap of $1.85 billion, a PE ratio of 9.77 and a beta of 0.73. 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 company had revenue of $178.30 million for the quarter, compared to the consensus estimate 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 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 year.

OFG Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Monday, June 30th. OFG Bancorp's payout ratio is currently 28.78%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. 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. Keefe, Bruyette & Woods lowered their price objective on shares of OFG Bancorp from $53.00 to $48.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Hovde Group dropped their target price on shares of OFG Bancorp from $53.50 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, Wells Fargo & Company downgraded 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 report on Wednesday, April 9th.

Insider Buying and Selling

In other news, CFO Maritza Arizmendi sold 5,000 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $41.44, for a total transaction of $207,200.00. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.11% of the stock is currently owned by company insiders.

OFG Bancorp Company 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.