Two Sigma Advisers LP Sells 18,100 Shares of OFG Bancorp (NYSE:OFG)

Two Sigma Advisers LP decreased its position in shares of OFG Bancorp (NYSE:OFG - Free Report) by 14.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,100 shares of the bank's stock after selling 18,100 shares during the period. Two Sigma Advisers LP owned 0.23% of OFG Bancorp worth $4,448,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OFG. Smartleaf Asset Management LLC grew 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 buying an additional 680 shares during the last quarter. R Squared Ltd bought a new position in shares of OFG Bancorp in the fourth quarter valued at about $44,000. Meeder Asset Management Inc. bought a new position in OFG Bancorp in the 4th quarter valued at $44,000. Blue Trust Inc. grew its position in shares of 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 buying an additional 946 shares during the period. Finally, Vestcor Inc bought a new stake in OFG Bancorp in the fourth quarter valued at about $107,000. Institutional investors own 92.73% of the company's stock.

OFG Bancorp Trading Down 0.7%

Shares of NYSE:OFG traded down $0.31 during midday trading on Friday, hitting $41.18. 14,754 shares of the stock were exchanged, compared to its average volume of 309,690. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.85. OFG Bancorp has a 12 month low of $33.15 and a 12 month high of $47.66. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 9.79 and a beta of 0.73. The business's 50-day moving average price is $39.21 and its 200 day moving average price is $41.58.

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 (EPS) 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 period in the prior year, the firm earned $1.05 earnings per share. Analysts predict that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.30 per share. 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 2.91%. OFG Bancorp's dividend payout ratio (DPR) is presently 28.78%.

Insider Activity

In related news, CFO Maritza Arizmendi sold 5,000 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 63,470 shares in the company, valued at $2,630,196.80. This trade represents a 7.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.11% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

About OFG Bancorp

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.