OFG Bancorp (NYSE:OFG) Shares Acquired by Panagora Asset Management Inc.

Panagora Asset Management Inc. grew its holdings in shares of OFG Bancorp (NYSE:OFG - Free Report) by 38.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 194,528 shares of the bank's stock after purchasing an additional 53,719 shares during the period. Panagora Asset Management Inc. owned approximately 0.41% of OFG Bancorp worth $7,291,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in OFG. Quantbot Technologies LP acquired a new stake in shares of OFG Bancorp during the third quarter worth $72,000. Vest Financial LLC acquired a new position in shares of OFG Bancorp in the fourth quarter valued at about $241,000. MQS Management LLC purchased a new position in shares of OFG Bancorp in the third quarter worth about $268,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of OFG Bancorp by 23.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,959 shares of the bank's stock worth $357,000 after purchasing an additional 2,273 shares during the period. Finally, Gallacher Capital Management LLC purchased a new stake in OFG Bancorp in the third quarter valued at approximately $362,000. Institutional investors and hedge funds own 92.73% of the company's stock.

Analyst Ratings Changes

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

OFG Bancorp Stock Performance

OFG traded down $0.09 during midday trading on Friday, hitting $37.82. 143,593 shares of the company were exchanged, compared to its average volume of 182,264. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 9.67 and a beta of 1.08. The company's 50 day simple moving average is $36.13 and its 200 day simple moving average is $35.74. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.17. OFG Bancorp has a 1-year low of $23.88 and a 1-year high of $39.04.

OFG Bancorp (NYSE:OFG - Get Free Report) last released its quarterly earnings data on Thursday, April 18th. The bank reported $1.05 EPS for the quarter, topping the consensus estimate of $0.95 by $0.10. The business had revenue of $213.49 million for the quarter, compared to analyst estimates of $175.20 million. OFG Bancorp had a return on equity of 16.10% and a net margin of 23.00%. During the same quarter in the prior year, the firm posted $0.96 EPS. As a group, sell-side analysts predict that OFG Bancorp will post 4.02 earnings per share for the current year.

OFG Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.64%. OFG Bancorp's dividend payout ratio (DPR) is currently 25.58%.

Insider Transactions at OFG Bancorp

In other news, insider Ganesh Kumar sold 6,695 shares of the business's stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $37.93, for a total value of $253,941.35. Following the completion of the sale, the insider now directly owns 76,578 shares in the company, valued at $2,904,603.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 61,305 shares of company stock valued at $2,255,071 in the last ninety days. 3.11% of the stock is currently owned by corporate insiders.

OFG Bancorp 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.