Universal Beteiligungs und Servicegesellschaft mbH Purchases Shares of 172,236 OFG Bancorp (NYSE:OFG)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in OFG Bancorp (NYSE:OFG - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 172,236 shares of the bank's stock, valued at approximately $7,289,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.38% of OFG Bancorp as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Barclays PLC lifted its holdings in shares of OFG Bancorp by 83.6% in the 3rd quarter. Barclays PLC now owns 96,045 shares of the bank's stock worth $4,314,000 after purchasing an additional 43,738 shares in the last quarter. Blue Trust Inc. lifted 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 buying an additional 946 shares in the last quarter. KBC Group NV grew its holdings in shares of OFG Bancorp by 39.7% during the fourth quarter. KBC Group NV now owns 2,620 shares of the bank's stock valued at $111,000 after buying an additional 745 shares during the last quarter. R Squared Ltd bought a new stake in shares of OFG Bancorp during the fourth quarter worth about $44,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of OFG Bancorp by 17.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,701 shares of the bank's stock worth $1,456,000 after acquiring an additional 5,041 shares during the last quarter. Institutional investors own 92.73% of the company's stock.

Wall Street Analysts Forecast Growth

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

OFG Bancorp Stock Performance

OFG stock traded down $0.17 during midday trading on Wednesday, hitting $41.26. The company's stock had a trading volume of 170,700 shares, compared to its average volume of 310,576. The stock's 50-day moving average price is $39.24 and its 200 day moving average price is $41.49. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 9.78 and a beta of 0.75. 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 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 firm had revenue of $178.30 million during 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 prior year, the firm posted $1.05 earnings per share. On average, equities analysts forecast that OFG Bancorp will post 4.18 EPS for the current year.

OFG Bancorp Announces Dividend

The company 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 annualized dividend and a dividend yield of 2.91%. OFG Bancorp's dividend payout ratio (DPR) is presently 28.78%.

Insider Buying and Selling

In other news, CFO Maritza Arizmendi sold 5,000 shares of the 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 sale, the chief financial officer now owns 63,470 shares of the company's stock, valued at approximately $2,630,196.80. This represents a 7.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.11% of the stock is currently owned by corporate insiders.

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.