D. E. Shaw & Co. Inc. Sells 9,608 Shares of OFG Bancorp (NYSE:OFG)

D. E. Shaw & Co. Inc. cut its holdings in shares of OFG Bancorp (NYSE:OFG - Free Report) by 36.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,871 shares of the bank's stock after selling 9,608 shares during the period. D. E. Shaw & Co. Inc.'s holdings in OFG Bancorp were worth $714,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC raised its position in shares of OFG Bancorp by 83.6% during the third quarter. Barclays PLC now owns 96,045 shares of the bank's stock worth $4,314,000 after purchasing an additional 43,738 shares during the period. Blue Trust Inc. increased its stake in OFG Bancorp by 84.8% during the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the bank's stock worth $93,000 after purchasing an additional 946 shares in the last quarter. KBC Group NV increased its stake in OFG Bancorp by 39.7% during the 4th quarter. KBC Group NV now owns 2,620 shares of the bank's stock worth $111,000 after purchasing an additional 745 shares in the last quarter. R Squared Ltd acquired a new stake in OFG Bancorp during the 4th quarter worth approximately $44,000. Finally, EMC Capital Management raised its holdings in OFG Bancorp by 92.8% during the 4th quarter. EMC Capital Management now owns 18,214 shares of the bank's stock worth $771,000 after buying an additional 8,766 shares during the period. 92.73% of the stock is owned by institutional investors and hedge funds.

OFG Bancorp Stock Up 0.6%

NYSE:OFG traded up $0.25 during trading hours on Thursday, reaching $41.44. 212,324 shares of the stock were exchanged, compared to its average volume of 310,859. The stock has a market cap of $1.86 billion, a PE ratio of 9.82 and a beta of 0.73. OFG Bancorp has a twelve month low of $33.15 and a twelve month high of $47.66. The firm has a 50 day moving average of $39.21 and a 200 day moving average of $41.58. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.85 and a quick ratio of 0.86.

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). OFG Bancorp had a net margin of 22.71% and a return on equity of 15.80%. The company had revenue of $178.30 million during the quarter, compared to the consensus estimate of $175.35 million. 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 earnings per share for the current year.

OFG Bancorp Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.90%. OFG Bancorp's payout ratio is 28.78%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wells Fargo & Company cut shares of OFG Bancorp from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $48.00 to $42.00 in a report on Wednesday, April 9th. Hovde Group cut their price objective on shares of OFG Bancorp from $53.50 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Keefe, Bruyette & Woods reduced their target price on shares of OFG Bancorp from $53.00 to $48.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, Piper Sandler dropped their price target on OFG Bancorp from $44.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th.

Insider Activity

In other news, CFO Maritza Arizmendi sold 5,000 shares of the business'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 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 $2,630,196.80. The trade was a 7.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.11% of the company's stock.

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.