UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $5.17 Million Stock Position in OFG Bancorp (NYSE:OFG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of OFG Bancorp (NYSE:OFG - Free Report) by 21.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 122,125 shares of the bank's stock after purchasing an additional 21,821 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.27% of OFG Bancorp worth $5,168,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its stake in shares of OFG Bancorp by 196.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank's stock valued at $44,000 after acquiring an additional 680 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of OFG Bancorp in the fourth quarter valued at approximately $44,000. Blue Trust Inc. raised its stake in shares of OFG Bancorp by 84.8% in the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the bank's stock valued at $93,000 after acquiring an additional 946 shares during the last quarter. Vestcor Inc bought a new position in shares of OFG Bancorp in the fourth quarter valued at approximately $107,000. Finally, KBC Group NV raised its stake in shares of OFG Bancorp by 39.7% in the fourth quarter. KBC Group NV now owns 2,620 shares of the bank's stock valued at $111,000 after acquiring an additional 745 shares during the last quarter. Institutional investors own 92.73% of the company's stock.

Insider Buying and Selling at OFG Bancorp

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 transaction, the chief financial officer now owns 63,470 shares of the company's stock, valued at $2,630,196.80. The trade was a 7.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on OFG. Hovde Group cut their target price on shares of OFG Bancorp from $53.50 to $50.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. 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 note on Thursday, April 24th. Wells Fargo & Company lowered shares of OFG Bancorp from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $48.00 to $42.00 in a report on Wednesday, April 9th. Finally, Piper Sandler lowered their price target on shares of OFG Bancorp from $44.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday, April 24th.

OFG Bancorp Trading Down 0.4%

Shares of OFG Bancorp stock traded down $0.15 on Thursday, hitting $41.08. 199,697 shares of the company's stock traded hands, compared to its average volume of 310,134. The firm's 50-day moving average price is $39.24 and its two-hundred day moving average price is $41.49. The stock has a market capitalization of $1.84 billion, a PE ratio of 9.73 and a beta of 0.75. OFG Bancorp has a one year low of $33.15 and a one year high of $47.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.85 and a quick ratio of 0.86.

OFG Bancorp (NYSE:OFG - Get Free Report) last issued its 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). 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 22.71% and a return on equity of 15.80%. During the same quarter in the previous year, the firm posted $1.05 EPS. On average, research analysts expect that OFG Bancorp will post 4.18 EPS for the current fiscal year.

OFG Bancorp Dividend Announcement

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

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.