Teacher Retirement System of Texas Has $1.19 Million Stake in OFG Bancorp (NYSE:OFG)

Teacher Retirement System of Texas trimmed its position in shares of OFG Bancorp (NYSE:OFG - Free Report) by 59.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,765 shares of the bank's stock after selling 42,766 shares during the quarter. Teacher Retirement System of Texas owned 0.07% of OFG Bancorp worth $1,191,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in OFG Bancorp by 42.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,717 shares of the bank's stock valued at $909,000 after buying an additional 6,814 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in OFG Bancorp by 11.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,403 shares of the bank's stock valued at $1,505,000 after buying an additional 3,702 shares during the last quarter. Bank of America Corp DE raised its position in OFG Bancorp by 11.0% in the 4th quarter. Bank of America Corp DE now owns 104,179 shares of the bank's stock valued at $4,409,000 after buying an additional 10,355 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in OFG Bancorp in the 4th quarter valued at $409,000. Finally, SG Americas Securities LLC raised its position in OFG Bancorp by 182.9% in the 1st quarter. SG Americas Securities LLC now owns 30,590 shares of the bank's stock valued at $1,224,000 after buying an additional 19,777 shares during the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

OFG Bancorp Stock Down 0.4%

OFG stock opened at $44.60 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $2.00 billion, a PE ratio of 10.69 and a beta of 0.75. OFG Bancorp has a twelve month low of $33.15 and a twelve month high of $47.66. The stock has a 50-day simple moving average of $42.23 and a two-hundred day simple moving average of $41.19.

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

OFG Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.30 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.20 annualized dividend and a yield of 2.69%. OFG Bancorp's payout ratio is currently 28.78%.

Insider Activity at OFG Bancorp

In related news, CFO Maritza Arizmendi sold 5,000 shares of the company'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 transaction, the chief financial officer owned 63,470 shares in the company, valued at $2,630,196.80. This represents a 7.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.11% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on OFG shares. Piper Sandler decreased their target price on OFG Bancorp from $44.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Hovde Group decreased their target price on OFG Bancorp from $53.50 to $50.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Wells Fargo & Company raised their target price on OFG Bancorp from $42.00 to $48.00 and gave the company an "equal weight" rating in a research report on Thursday. Wall Street Zen lowered OFG Bancorp from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Keefe, Bruyette & Woods decreased their price objective on OFG Bancorp from $53.00 to $48.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, OFG Bancorp has a consensus rating of "Hold" and an average target price of $47.00.

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.

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