Rafferty Asset Management LLC Has $2.33 Million Holdings in OFG Bancorp (NYSE:OFG)

Rafferty Asset Management LLC boosted its position in OFG Bancorp (NYSE:OFG - Free Report) by 12.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 54,955 shares of the bank's stock after purchasing an additional 5,906 shares during the period. Rafferty Asset Management LLC owned about 0.12% of OFG Bancorp worth $2,326,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. TD Waterhouse Canada Inc. lifted its stake in OFG Bancorp by 1.8% in the 4th quarter. TD Waterhouse Canada Inc. now owns 21,041 shares of the bank's stock valued at $890,000 after purchasing an additional 369 shares during the last quarter. Prudential Financial Inc. lifted its stake in OFG Bancorp by 0.5% in the 4th quarter. Prudential Financial Inc. now owns 67,999 shares of the bank's stock valued at $2,878,000 after purchasing an additional 370 shares during the last quarter. Bank of Montreal Can lifted its stake in OFG Bancorp by 9.0% in the 4th quarter. Bank of Montreal Can now owns 5,295 shares of the bank's stock valued at $224,000 after purchasing an additional 438 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in OFG Bancorp by 196.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank's stock valued at $44,000 after purchasing an additional 680 shares during the last quarter. Finally, KBC Group NV lifted its stake in OFG Bancorp by 39.7% in the 4th quarter. KBC Group NV now owns 2,620 shares of the bank's stock valued at $111,000 after purchasing an additional 745 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

OFG Bancorp Stock Performance

OFG stock traded up $0.18 during mid-day trading on Friday, hitting $41.51. 369,352 shares of the company were exchanged, compared to its average volume of 310,909. The business has a 50 day simple moving average of $39.13 and a 200-day simple moving average of $41.62. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $1.86 billion, a PE ratio of 9.84 and a beta of 0.73. OFG Bancorp has a 1-year low of $33.15 and a 1-year high of $47.66.

OFG Bancorp (NYSE:OFG - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.00 earnings per share for the quarter, missing analysts' consensus estimates of $1.02 by ($0.02). The business had revenue of $178.30 million during the quarter, compared to analyst estimates 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 firm posted $1.05 earnings per share. On average, equities analysts forecast that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Monday, June 30th. OFG Bancorp's dividend payout ratio (DPR) is currently 28.78%.

Insider Activity at OFG Bancorp

In related 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 value of $207,200.00. Following the completion of the sale, the chief financial officer now directly owns 63,470 shares in the company, valued at approximately $2,630,196.80. The trade was a 7.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 3.11% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.