Janus Henderson Group PLC Purchases 37,653 Shares of OFG Bancorp (NYSE:OFG)

Janus Henderson Group PLC increased its stake in OFG Bancorp (NYSE:OFG - Free Report) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 634,817 shares of the bank's stock after buying an additional 37,653 shares during the period. Janus Henderson Group PLC owned 1.38% of OFG Bancorp worth $26,866,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Jefferies Financial Group Inc. purchased a new stake in OFG Bancorp in the fourth quarter worth about $409,000. Deutsche Bank AG grew its holdings in OFG Bancorp by 3.8% in the fourth quarter. Deutsche Bank AG now owns 379,096 shares of the bank's stock worth $16,043,000 after purchasing an additional 13,811 shares during the period. Bridgeway Capital Management LLC purchased a new stake in OFG Bancorp in the fourth quarter worth about $5,205,000. Bridgefront Capital LLC purchased a new stake in OFG Bancorp in the fourth quarter worth about $221,000. Finally, Caxton Associates LP purchased a new stake in OFG Bancorp in the fourth quarter worth about $225,000. 92.73% of the stock is owned by institutional investors.

OFG Bancorp Stock Performance

OFG Bancorp stock traded up $0.12 during midday trading on Tuesday, reaching $42.72. 13,107 shares of the company traded hands, compared to its average volume of 308,730. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 10.13 and a beta of 0.73. The business has a 50 day moving average of $39.02 and a two-hundred day moving average of $41.65. OFG Bancorp has a 12 month low of $33.15 and a 12 month 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 released its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.02). OFG Bancorp had a return on equity of 15.80% and a net margin of 22.71%. The business had revenue of $178.30 million during the quarter, compared to the consensus estimate of $175.35 million. During the same quarter in the previous year, the business posted $1.05 earnings per share. As a group, research analysts predict that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Dividend Announcement

The firm also recently declared 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 is Monday, June 30th. This represents a $1.20 annualized dividend and a yield of 2.81%. OFG Bancorp's payout ratio is presently 28.78%.

Insiders Place Their Bets

In other OFG Bancorp news, CFO Maritza Arizmendi sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 63,470 shares in the company, valued at approximately $2,630,196.80. This trade represents a 7.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on OFG shares. Piper Sandler cut 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. 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. Hovde Group lowered their price objective on shares of OFG Bancorp from $53.50 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of OFG Bancorp from $53.00 to $48.00 and set an "outperform" rating on the stock in a research 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.