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

GSA Capital Partners LLP bought a new stake in OFG Bancorp (NYSE:OFG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in OFG. Meeder Asset Management Inc. acquired a new position in shares of OFG Bancorp during the fourth quarter worth $44,000. Point72 Asset Management L.P. acquired a new position in shares of OFG Bancorp during the fourth quarter worth $172,000. Bridgefront Capital LLC acquired a new position in shares of OFG Bancorp during the fourth quarter worth $221,000. Bank of Montreal Can lifted its holdings in shares of 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 purchasing an additional 438 shares during the period. Finally, Oxford Asset Management LLP acquired a new position in shares of OFG Bancorp during the fourth quarter worth $225,000. Institutional investors and hedge funds own 92.73% of the company's stock.

Insider Activity at OFG Bancorp

In other news, CFO Maritza Arizmendi sold 5,000 shares of the business's stock in a transaction dated 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 directly owned 63,470 shares of the company's stock, valued at $2,630,196.80. The trade was a 7.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.11% of the stock is currently owned by insiders.

OFG Bancorp Stock Down 1.9%

OFG traded down $0.80 during midday trading on Friday, hitting $41.82. The company had a trading volume of 283,667 shares, compared to its average volume of 339,343. OFG Bancorp has a 52 week low of $33.15 and a 52 week high of $47.66. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 9.86 and a beta of 0.75. The stock's 50 day moving average price is $42.80 and its 200 day moving average price is $41.37.

OFG Bancorp (NYSE:OFG - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The bank reported $1.15 earnings per share for the quarter, beating 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 firm had revenue of $182.20 million during the quarter, compared to the consensus estimate of $181.50 million. During the same period in the previous year, the firm posted $1.08 earnings per share. The business's revenue 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 fiscal year.

OFG Bancorp Announces Dividend

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

Analysts Set New Price Targets

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

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.