Barrow Hanley Mewhinney & Strauss LLC Sells 61,784 Shares of OFG Bancorp (NYSE:OFG)

Barrow Hanley Mewhinney & Strauss LLC decreased its holdings in shares of OFG Bancorp (NYSE:OFG - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,529,727 shares of the bank's stock after selling 61,784 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned 3.33% of OFG Bancorp worth $64,738,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its stake in OFG Bancorp by 196.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank's stock valued at $44,000 after buying an additional 680 shares during the period. R Squared Ltd bought a new stake in shares of OFG Bancorp in the 4th quarter valued at $44,000. Meeder Asset Management Inc. acquired a new position in shares of OFG Bancorp during the 4th quarter valued at $44,000. Blue Trust Inc. boosted its stake in OFG Bancorp by 84.8% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the bank's stock worth $93,000 after acquiring an additional 946 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in OFG Bancorp by 736.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,385 shares of the bank's stock worth $101,000 after acquiring an additional 2,100 shares in the last quarter. Institutional investors own 92.73% of the company's stock.

OFG Bancorp Stock Performance

OFG opened at $41.40 on Friday. OFG Bancorp has a 1-year low of $33.15 and a 1-year high of $47.66. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 9.81 and a beta of 0.73. The company's fifty day moving average price is $39.11 and its two-hundred day moving average price is $41.66. 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 (NYSE:OFG - Get Free Report) last posted its earnings results 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 business had revenue of $178.30 million for the quarter, compared to the consensus estimate of $175.35 million. During the same period in the previous year, the firm earned $1.05 earnings per share. On average, analysts expect that OFG Bancorp will post 4.18 EPS for the current fiscal year.

OFG Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Monday, June 30th. OFG Bancorp's dividend payout ratio (DPR) is presently 28.78%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on OFG shares. Wells Fargo & Company downgraded shares of OFG Bancorp from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $48.00 to $42.00 in a research note on Wednesday, April 9th. Keefe, Bruyette & Woods decreased their target price 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. Hovde Group dropped their price target 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 reduced their price objective on OFG Bancorp from $44.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th.

Insider Activity

In related news, CFO Maritza Arizmendi sold 5,000 shares of the company's 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 owns 63,470 shares in the company, valued at approximately $2,630,196.80. This represents a 7.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.11% of the company's stock.

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.

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