SG Americas Securities LLC Has $1.22 Million Stock Position in OFG Bancorp (NYSE:OFG)

SG Americas Securities LLC lifted its stake in shares of OFG Bancorp (NYSE:OFG - Free Report) by 182.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,590 shares of the bank's stock after purchasing an additional 19,777 shares during the period. SG Americas Securities LLC owned approximately 0.07% of OFG Bancorp worth $1,224,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Rhumbline Advisers boosted its stake in OFG Bancorp by 1.3% in the 4th quarter. Rhumbline Advisers now owns 136,503 shares of the bank's stock worth $5,777,000 after purchasing an additional 1,785 shares during the period. Principal Financial Group Inc. boosted its position in shares of OFG Bancorp by 2.6% in the fourth quarter. Principal Financial Group Inc. now owns 251,774 shares of the bank's stock worth $10,655,000 after buying an additional 6,392 shares during the period. Ieq Capital LLC purchased a new position in shares of OFG Bancorp during the fourth quarter valued at $210,000. Smartleaf Asset Management LLC raised its position in OFG Bancorp by 196.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank's stock valued at $44,000 after buying an additional 680 shares during the period. Finally, Bailard Inc. lifted its stake in OFG Bancorp by 39.4% in the 4th quarter. Bailard Inc. now owns 16,741 shares of the bank's stock worth $708,000 after acquiring an additional 4,730 shares in the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

OFG Bancorp Stock Up 0.9%

NYSE:OFG traded up $0.36 during mid-day trading on Friday, reaching $41.11. The stock had a trading volume of 180,323 shares, compared to its average volume of 356,952. The stock has a market cap of $1.85 billion, a P/E ratio of 9.86 and a beta of 0.75. The business's 50 day moving average is $40.21 and its 200 day moving average is $41.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.85 and a quick ratio of 0.84. OFG Bancorp has a fifty-two week low of $33.15 and a fifty-two week high of $47.66.

OFG Bancorp (NYSE:OFG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.00 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.02). OFG Bancorp had a return on equity of 15.23% and a net margin of 22.10%. The business had revenue of $178.30 million for the quarter, compared to analyst estimates of $175.35 million. During the same quarter last year, the company earned $1.05 EPS. As a group, sell-side analysts predict that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, June 30th. This represents a $1.20 annualized dividend and a yield of 2.92%. OFG Bancorp's dividend payout ratio (DPR) is currently 28.78%.

Insiders Place Their Bets

In other news, CFO Maritza Arizmendi sold 5,000 shares of the business's stock in a transaction on Monday, May 5th. The shares were 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.11% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OFG. Wall Street Zen cut OFG Bancorp from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Wells Fargo & Company downgraded shares of OFG Bancorp from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $48.00 to $42.00 in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods cut 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 report on Thursday, April 24th. Piper Sandler lowered 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. Finally, Hovde Group dropped their price target on shares of OFG Bancorp from $53.50 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $45.50.

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.