GSA Capital Partners LLP Purchases Shares of 30,978 OFG Bancorp (NYSE:OFG)

GSA Capital Partners LLP bought a new position in shares of OFG Bancorp (NYSE:OFG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 30,978 shares of the bank's stock, valued at approximately $1,240,000. GSA Capital Partners LLP owned approximately 0.07% of OFG Bancorp as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of OFG. Meeder Asset Management Inc. acquired a new stake in shares of OFG Bancorp during the 4th quarter worth $44,000. Point72 Asset Management L.P. bought a new stake in OFG Bancorp during the fourth quarter worth about $172,000. Bridgefront Capital LLC bought a new stake in OFG Bancorp during the fourth quarter worth about $221,000. Bank of Montreal Can grew its stake in OFG Bancorp by 9.0% during the fourth quarter. Bank of Montreal Can now owns 5,295 shares of the bank's stock worth $224,000 after buying an additional 438 shares in the last quarter. Finally, Oxford Asset Management LLP bought a new position in OFG Bancorp in the 4th quarter valued at about $225,000. Institutional investors own 92.73% of the company's stock.

OFG Bancorp Price Performance

NYSE:OFG traded down $0.80 on Friday, hitting $41.82. The company had a trading volume of 283,667 shares, compared to its average volume of 221,752. OFG Bancorp has a 52 week low of $33.15 and a 52 week high of $47.66. The company has a current ratio of 0.87, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 9.86 and a beta of 0.77. The firm has a 50 day moving average of $42.80 and a two-hundred day moving average of $41.35.

OFG Bancorp (NYSE:OFG - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The bank reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $181.50 million. During the same period in the prior year, the business earned $1.08 earnings per share. The company's revenue for the quarter was up 1.6% compared to the same quarter last year. On average, research analysts anticipate that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 30th. OFG Bancorp's dividend payout ratio (DPR) is presently 28.30%.

Insider Activity at OFG Bancorp

In other 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 3.11% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on OFG. Hovde Group cut their price target on shares of OFG Bancorp from $53.50 to $50.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Keefe, Bruyette & Woods boosted their price objective on shares of OFG Bancorp from $48.00 to $50.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Wells Fargo & Company raised their target price on OFG Bancorp from $42.00 to $48.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Wall Street Zen upgraded OFG Bancorp from a "sell" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, Piper Sandler dropped their price objective 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. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.50.

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.