De Lisle Partners LLP Purchases Shares of 50,000 OFG Bancorp (NYSE:OFG)

Key Points

• De Lisle Partners LLP made a new investment by purchasing 50,000 shares of OFG Bancorp for approximately $2 million, giving it a 0.11% stake in the company.
• Analysts have recently issued mixed ratings on OFG Bancorp, with two analysts rating it a "hold" and three giving it a "buy", culminating in a consensus rating of "Moderate Buy".
• OFG Bancorp announced a quarterly dividend of $0.30 per share, representing a yield of 2.75% and a payout ratio of 28.30%.

De Lisle Partners LLP purchased a new stake in OFG Bancorp (NYSE:OFG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 50,000 shares of the bank's stock, valued at approximately $2,002,000. De Lisle Partners LLP owned 0.11% of OFG Bancorp as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nuveen Asset Management LLC increased its holdings in OFG Bancorp by 0.8% during the 4th quarter. Nuveen Asset Management LLC now owns 1,187,781 shares of the bank's stock worth $50,267,000 after acquiring an additional 9,658 shares during the period. JPMorgan Chase & Co. increased its holdings in OFG Bancorp by 5.0% during the 4th quarter. JPMorgan Chase & Co. now owns 894,049 shares of the bank's stock worth $37,836,000 after acquiring an additional 42,335 shares during the period. Northern Trust Corp increased its holdings in OFG Bancorp by 8.0% during the 4th quarter. Northern Trust Corp now owns 650,844 shares of the bank's stock worth $27,544,000 after acquiring an additional 48,442 shares during the period. Janus Henderson Group PLC increased its holdings in shares of OFG Bancorp by 6.3% in the 4th quarter. Janus Henderson Group PLC now owns 634,817 shares of the bank's stock worth $26,866,000 after buying an additional 37,653 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of OFG Bancorp by 3.8% in the 4th quarter. Deutsche Bank AG now owns 379,096 shares of the bank's stock worth $16,043,000 after buying an additional 13,811 shares during the last quarter. Institutional investors own 92.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of OFG Bancorp from a "sell" rating to a "hold" rating in a report on Sunday, July 20th. Keefe, Bruyette & Woods increased their price target on shares of OFG Bancorp from $48.00 to $50.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Piper Sandler decreased 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. Wells Fargo & Company increased their price target on shares of OFG Bancorp from $42.00 to $48.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Finally, Hovde Group decreased their price target 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. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, OFG Bancorp currently has an average rating of "Moderate Buy" and a consensus price target of $47.50.

OFG Bancorp Trading Down 1.9%

Shares of OFG Bancorp stock traded down $0.80 during trading on Friday, reaching $41.82. The company's stock had a trading volume of 283,177 shares, compared to its average volume of 338,704. OFG Bancorp has a 52-week low of $33.15 and a 52-week high of $47.66. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 9.86 and a beta of 0.75. The firm's 50-day moving average is $42.80 and its two-hundred day moving average is $41.37. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 0.34.

OFG Bancorp (NYSE:OFG - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The bank reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.10. OFG Bancorp had a net margin of 22.06% and a return on equity of 14.97%. The company had revenue of $182.20 million during the quarter, compared to analysts' expectations of $181.50 million. During the same quarter in the prior year, the company earned $1.08 EPS. The firm's revenue was up 1.6% on a year-over-year basis. On average, sell-side analysts anticipate 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 Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. OFG Bancorp's dividend payout ratio is 28.30%.

Insider Activity

In other OFG Bancorp news, CFO Maritza Arizmendi sold 5,000 shares of the 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 completion of the sale, the chief financial officer owned 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 filing with the SEC, which is available at the SEC website. Company insiders own 3.11% of the company's stock.

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.