LSV Asset Management Sells 162,621 Shares of OFG Bancorp (NYSE:OFG)

LSV Asset Management decreased its position in shares of OFG Bancorp (NYSE:OFG - Free Report) by 8.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,843,037 shares of the bank's stock after selling 162,621 shares during the quarter. LSV Asset Management owned approximately 3.92% of OFG Bancorp worth $69,077,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of OFG Bancorp by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,295,820 shares of the bank's stock valued at $38,693,000 after acquiring an additional 19,117 shares during the period. American Century Companies Inc. boosted its stake in shares of OFG Bancorp by 9.9% in the 3rd quarter. American Century Companies Inc. now owns 568,693 shares of the bank's stock valued at $16,981,000 after purchasing an additional 51,391 shares during the last quarter. Deutsche Bank AG grew its position in shares of OFG Bancorp by 0.8% during the 3rd quarter. Deutsche Bank AG now owns 364,442 shares of the bank's stock worth $10,882,000 after buying an additional 2,849 shares during the period. Victory Capital Management Inc. raised its stake in shares of OFG Bancorp by 1.2% during the third quarter. Victory Capital Management Inc. now owns 196,791 shares of the bank's stock worth $5,876,000 after buying an additional 2,258 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC lifted its holdings in OFG Bancorp by 94.6% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 196,042 shares of the bank's stock valued at $7,348,000 after buying an additional 95,282 shares during the period. 92.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company lowered their target price on shares of OFG Bancorp from $41.00 to $40.00 and set an "overweight" rating for the company in a report on Wednesday, April 10th.

OFG Bancorp Trading Up 0.9 %

NYSE OFG traded up $0.33 on Friday, reaching $37.34. The company had a trading volume of 155,269 shares, compared to its average volume of 189,219. OFG Bancorp has a 52 week low of $22.34 and a 52 week high of $39.04. The stock's 50 day moving average is $35.86 and its 200-day moving average is $35.14. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 9.55 and a beta of 1.08.

OFG Bancorp (NYSE:OFG - Get Free Report) last announced its quarterly earnings results on Thursday, April 18th. The bank reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.10. OFG Bancorp had a return on equity of 16.10% and a net margin of 23.00%. The company had revenue of $213.49 million during the quarter, compared to analysts' expectations of $175.20 million. During the same period in the prior year, the business posted $0.96 EPS. Equities analysts predict that OFG Bancorp will post 4.02 earnings per share for the current year.

Insider Buying and Selling at OFG Bancorp

In other OFG Bancorp news, insider Ganesh Kumar sold 9,071 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $35.18, for a total value of $319,117.78. Following the sale, the insider now directly owns 144,502 shares in the company, valued at $5,083,580.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 34,536 shares of company stock valued at $1,238,317. Corporate insiders own 3.11% of the company's stock.

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.