Jefferies Financial Group Inc. Acquires New Position in OFG Bancorp (NYSE:OFG)

Jefferies Financial Group Inc. purchased a new stake in shares of OFG Bancorp (NYSE:OFG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 9,660 shares of the bank's stock, valued at approximately $409,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. R Squared Ltd bought a new stake in OFG Bancorp during the 4th quarter valued at $44,000. Smartleaf Asset Management LLC grew 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 worth $44,000 after purchasing an additional 680 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of OFG Bancorp during the fourth quarter valued at $44,000. Blue Trust Inc. raised its stake in shares of OFG Bancorp by 84.8% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the bank's stock valued at $93,000 after purchasing an additional 946 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of OFG Bancorp by 736.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,385 shares of the bank's stock valued at $101,000 after purchasing an additional 2,100 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Maritza Arizmendi sold 5,000 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were 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 now directly owns 63,470 shares of the company's stock, valued at approximately $2,630,196.80. This trade represents a 7.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.11% of the stock is currently owned by insiders.

Analyst Ratings Changes

OFG has been the topic of several research analyst reports. Keefe, Bruyette & Woods lowered their target price 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. Piper Sandler decreased their price target 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. Hovde Group dropped their price objective on OFG Bancorp from $53.50 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, Wells Fargo & Company lowered shares of OFG Bancorp from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $48.00 to $42.00 in a research note on Wednesday, April 9th.

OFG Bancorp Stock Down 0.4%

NYSE:OFG traded down $0.17 during mid-day trading on Thursday, reaching $41.61. The stock had a trading volume of 15,568 shares, compared to its average volume of 309,231. The stock has a market cap of $1.87 billion, a P/E ratio of 9.87 and a beta of 0.73. The business's 50 day moving average is $39.10 and its 200 day moving average is $41.66. 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 has a fifty-two week low of $33.15 and a fifty-two week high of $47.66.

OFG Bancorp (NYSE:OFG - Get Free Report) last posted its 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 net margin of 22.71% and a return on equity of 15.80%. The company had revenue of $178.30 million for the quarter, compared to the consensus estimate of $175.35 million. During the same quarter last year, the business earned $1.05 earnings per share. As a group, sell-side analysts predict that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Announces Dividend

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. This represents a $1.20 annualized dividend and a yield of 2.88%. The ex-dividend date is Monday, June 30th. OFG Bancorp's dividend payout ratio is currently 28.78%.

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.