Ameriprise Financial Inc. Sells 16,578 Shares of OFG Bancorp (NYSE:OFG)

Ameriprise Financial Inc. trimmed its stake in shares of OFG Bancorp (NYSE:OFG - Free Report) by 8.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 186,010 shares of the bank's stock after selling 16,578 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.41% of OFG Bancorp worth $7,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Empowered Funds LLC bought a new position in shares of OFG Bancorp in the fourth quarter worth approximately $4,570,000. Foundry Partners LLC boosted its position in OFG Bancorp by 76.5% during the 4th quarter. Foundry Partners LLC now owns 237,264 shares of the bank's stock valued at $10,041,000 after buying an additional 102,841 shares during the period. Tudor Investment Corp ET AL boosted its position in OFG Bancorp by 139.1% during the 4th quarter. Tudor Investment Corp ET AL now owns 176,517 shares of the bank's stock valued at $7,470,000 after buying an additional 102,680 shares during the period. American Century Companies Inc. boosted its position in OFG Bancorp by 8.3% during the 4th 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 during the period. Finally, Northern Trust Corp boosted its position in OFG Bancorp by 8.0% during the 4th 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 during the period. 92.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at OFG Bancorp

In related news, CFO Maritza Arizmendi sold 5,000 shares of the company's stock in a transaction that occurred 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 $2,630,196.80. This represents a 7.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.11% of the company's stock.

Analyst Ratings Changes

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

OFG Bancorp Trading Up 0.4%

NYSE OFG traded up $0.18 during trading on Friday, hitting $41.51. The company had a trading volume of 369,352 shares, compared to its average volume of 310,815. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. OFG Bancorp has a one year low of $33.15 and a one year high of $47.66. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 9.84 and a beta of 0.73. The company's fifty day moving average is $39.13 and its 200-day moving average is $41.67.

OFG Bancorp (NYSE:OFG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.00 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 company had revenue of $178.30 million during the quarter, compared to the consensus estimate of $175.35 million. During the same quarter last year, the company posted $1.05 earnings per share. On average, sell-side analysts predict that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Monday, June 30th. OFG Bancorp's dividend payout ratio (DPR) is presently 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.