Public Employees Retirement System of Ohio Invests $1.44 Million in OFG Bancorp $OFG

Public Employees Retirement System of Ohio bought a new stake in shares of OFG Bancorp (NYSE:OFG - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 29,327 shares of the bank's stock, valued at approximately $1,439,000. Public Employees Retirement System of Ohio owned approximately 0.07% of OFG Bancorp as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in OFG. Unison Advisors LLC boosted its position in shares of OFG Bancorp by 0.7% in the 1st quarter. Unison Advisors LLC now owns 30,823 shares of the bank's stock worth $1,258,000 after purchasing an additional 221 shares during the last quarter. Trexquant Investment LP grew its stake in shares of OFG Bancorp by 0.4% during the fourth quarter. Trexquant Investment LP now owns 102,933 shares of the bank's stock worth $4,218,000 after purchasing an additional 446 shares during the period. Polymer Capital Management US LLC increased its holdings in OFG Bancorp by 5.6% in the fourth quarter. Polymer Capital Management US LLC now owns 8,740 shares of the bank's stock valued at $358,000 after purchasing an additional 466 shares during the last quarter. California State Teachers Retirement System increased its holdings in OFG Bancorp by 1.2% in the second quarter. California State Teachers Retirement System now owns 42,955 shares of the bank's stock valued at $1,838,000 after purchasing an additional 506 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in OFG Bancorp by 2.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,719 shares of the bank's stock valued at $1,069,000 after buying an additional 552 shares during the period. Institutional investors own 92.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wells Fargo & Company raised their target price on OFG Bancorp from $49.00 to $55.00 and gave the stock an "equal weight" rating in a report on Monday, August 10th. Piper Sandler set a $56.00 price target on OFG Bancorp in a research note on Wednesday, July 22nd. Zacks Research upgraded shares of OFG Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods lifted their price objective on shares of OFG Bancorp from $52.00 to $57.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings restated a "buy (b)" rating on shares of OFG Bancorp in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, OFG Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.20.

Insider Activity at OFG Bancorp

In related news, CFO Maritza Arizmendi sold 10,000 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $53.35, for a total transaction of $533,500.00. Following the completion of the sale, the chief financial officer directly owned 56,684 shares of the company's stock, valued at approximately $3,024,091.40. This represents a 15.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Néstor de Jesús sold 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $53.00, for a total transaction of $212,000.00. Following the sale, the director owned 20,040 shares in the company, valued at $1,062,120. This trade represents a 16.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 66,352 shares of company stock worth $3,491,362. 1.23% of the stock is owned by company insiders.

OFG Bancorp Stock Performance

OFG stock opened at $53.19 on Tuesday. The business's 50-day moving average price is $51.79 and its two-hundred day moving average price is $46.45. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. The firm has a market cap of $2.25 billion, a PE ratio of 10.47 and a beta of 0.68. OFG Bancorp has a 1-year low of $35.71 and a 1-year high of $54.47.

OFG Bancorp (NYSE:OFG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The bank reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.22. OFG Bancorp had a return on equity of 15.92% and a net margin of 24.08%.The company had revenue of $190.28 million during the quarter, compared to the consensus estimate of $182.64 million. During the same period in the prior year, the company earned $1.15 earnings per share. As a group, research analysts forecast that OFG Bancorp will post 5.05 earnings per share for the current year.

OFG Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.35 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.40 annualized dividend and a dividend yield of 2.6%. OFG Bancorp's payout ratio is currently 27.56%.

OFG Bancorp Profile

OFG Bancorp, through its principal subsidiary Oriental Bank, is a financial holding company headquartered in San Juan, Puerto Rico. The company provides a wide range of banking services, including commercial and consumer deposit accounts, small business loans, corporate lending, treasury management, and cash management solutions. Its consumer offerings encompass personal checking and savings accounts, credit cards, and electronic banking platforms designed to serve retail customers across its markets.

In addition to traditional banking products, OFG Bancorp offers mortgage origination and servicing, as well as wealth management and trust services for high‐net‐worth individuals and institutional clients.

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