Ameriprise Financial Inc. Has $7.88 Million Stock Holdings in OFG Bancorp (NYSE:OFG)

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

Other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its position in shares of OFG Bancorp by 196.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank's stock valued at $44,000 after acquiring an additional 680 shares during the period. R Squared Ltd bought a new stake in shares of OFG Bancorp during the 4th quarter valued at $44,000. Meeder Asset Management Inc. bought a new stake in shares of OFG Bancorp during the 4th quarter valued at $44,000. Blue Trust Inc. lifted its position in shares of OFG Bancorp by 84.8% during 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 period. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of OFG Bancorp by 736.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,385 shares of the bank's stock valued at $101,000 after acquiring an additional 2,100 shares during the period. 92.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other OFG Bancorp news, CFO Maritza Arizmendi sold 5,000 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $41.44, for a total value of $207,200.00. Following the completion of the transaction, the chief financial officer now owns 63,470 shares of the company's stock, valued at $2,630,196.80. This represents a 7.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.11% of the company's stock.

OFG Bancorp Price Performance

Shares of OFG stock traded up $0.66 on Tuesday, hitting $42.20. 147,374 shares of the company's stock were exchanged, compared to its average volume of 310,255. 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 has a 12 month low of $33.15 and a 12 month high of $47.66. The stock has a market cap of $1.90 billion, a P/E ratio of 10.00 and a beta of 0.73. The company has a 50 day moving average of $39.19 and a 200 day moving average of $41.60.

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

OFG Bancorp Dividend Announcement

The company also recently announced 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. The ex-dividend date is Monday, June 30th. This represents a $1.20 dividend on an annualized basis and a yield of 2.84%. OFG Bancorp's payout ratio is presently 28.78%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OFG. Piper Sandler cut their target price on OFG Bancorp from $44.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Keefe, Bruyette & Woods dropped their price objective on OFG Bancorp from $53.00 to $48.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Wells Fargo & Company downgraded OFG Bancorp from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $48.00 to $42.00 in a research report on Wednesday, April 9th. Finally, Hovde Group dropped their price objective on OFG Bancorp from $53.50 to $50.00 and set an "outperform" rating for the company in a research report 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.