Lazard Asset Management LLC Sells 14,301 Shares of OFG Bancorp (NYSE:OFG)

Lazard Asset Management LLC lowered its position in OFG Bancorp (NYSE:OFG - Free Report) by 76.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,488 shares of the bank's stock after selling 14,301 shares during the period. Lazard Asset Management LLC's holdings in OFG Bancorp were worth $189,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Jacobs Asset Management LLC increased its holdings in OFG Bancorp by 14.3% during the 4th quarter. Jacobs Asset Management LLC now owns 100,000 shares of the bank's stock worth $4,232,000 after purchasing an additional 12,500 shares in the last quarter. Janus Henderson Group PLC increased its holdings in OFG Bancorp by 6.3% during the 4th quarter. Janus Henderson Group PLC now owns 634,817 shares of the bank's stock worth $26,866,000 after purchasing an additional 37,653 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in OFG Bancorp during the 4th quarter worth about $409,000. Deutsche Bank AG increased its holdings in OFG Bancorp by 3.8% during the 4th quarter. Deutsche Bank AG now owns 379,096 shares of the bank's stock worth $16,043,000 after purchasing an additional 13,811 shares in the last quarter. Finally, Bridgeway Capital Management LLC bought a new position in OFG Bancorp during the 4th quarter worth about $5,205,000. Institutional investors own 92.73% of the company's stock.

Insider Activity

In related news, CFO Maritza Arizmendi sold 5,000 shares of OFG Bancorp stock in a transaction dated 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 transaction, the chief financial officer now owns 63,470 shares in the company, valued at approximately $2,630,196.80. This trade represents a 7.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.11% of the stock is owned by corporate insiders.

OFG Bancorp Stock Up 0.2%

Shares of NYSE OFG traded up $0.07 during mid-day trading on Thursday, hitting $41.26. The company had a trading volume of 16,471 shares, compared to its average volume of 376,452. The company has a market capitalization of $1.85 billion, a PE ratio of 9.78 and a beta of 0.73. The firm has a 50-day simple moving average of $39.21 and a two-hundred day simple moving average of $41.60. 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 has a one year low of $33.15 and a one year high of $47.66.

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). The company had revenue of $178.30 million during the quarter, compared to the consensus estimate of $175.35 million. OFG Bancorp had a net margin of 22.71% and a return on equity of 15.80%. During the same quarter in the previous year, the business earned $1.05 EPS. On average, equities analysts expect that OFG Bancorp will post 4.18 EPS for the current 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 issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Monday, June 30th. OFG Bancorp's payout ratio is 28.78%.

Analyst Ratings Changes

OFG has been the subject of a number of research reports. Hovde Group lowered their target price on 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 lowered their target price on OFG Bancorp from $53.00 to $48.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Piper Sandler decreased their price objective on OFG Bancorp from $44.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Finally, Wells Fargo & Company cut OFG Bancorp from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $48.00 to $42.00 in a report on Wednesday, April 9th.

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.