Jacobs Asset Management LLC Has $4.23 Million Stake in OFG Bancorp (NYSE:OFG)

Jacobs Asset Management LLC boosted its holdings in OFG Bancorp (NYSE:OFG - Free Report) by 14.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 100,000 shares of the bank's stock after acquiring an additional 12,500 shares during the quarter. OFG Bancorp comprises about 2.5% of Jacobs Asset Management LLC's investment portfolio, making the stock its 15th biggest holding. Jacobs Asset Management LLC owned 0.22% of OFG Bancorp worth $4,232,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in OFG Bancorp by 48.9% in the fourth quarter. GAMMA Investing LLC now owns 801 shares of the bank's stock worth $34,000 after acquiring an additional 263 shares in the last quarter. Smartleaf Asset Management LLC raised its position in 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 acquiring an additional 680 shares in the last quarter. R Squared Ltd bought a new stake in OFG Bancorp in the fourth quarter worth about $44,000. Meeder Asset Management Inc. bought a new stake in OFG Bancorp in the fourth quarter worth about $44,000. Finally, Blue Trust Inc. raised its position in OFG Bancorp by 84.8% in the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the bank's stock worth $93,000 after acquiring an additional 946 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OFG has been the topic of a number of analyst reports. Wells Fargo & Company cut OFG Bancorp from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $48.00 to $42.00 in a research note on Wednesday, April 9th. Keefe, Bruyette & Woods dropped their price target 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. Piper Sandler dropped their price target on OFG Bancorp from $44.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Finally, Hovde Group dropped their price target 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.

OFG Bancorp Trading Up 0.1%

OFG traded up $0.03 during trading on Wednesday, reaching $42.63. The company had a trading volume of 295,740 shares, compared to its average volume of 308,778. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.85. OFG Bancorp has a 12-month low of $33.15 and a 12-month high of $47.66. The firm's 50-day simple moving average is $38.81 and its 200 day simple moving average is $41.59. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 10.10 and a beta of 0.73.

OFG Bancorp (NYSE:OFG - Get Free Report) last released 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 business had revenue of $178.30 million for the quarter, compared to analysts' expectations of $175.35 million. During the same period last year, the firm earned $1.05 EPS. Equities research analysts anticipate that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid 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 yield of 2.81%. OFG Bancorp's dividend payout ratio (DPR) is presently 28.78%.

Insider Buying and Selling at OFG Bancorp

In other news, CFO Maritza Arizmendi sold 5,000 shares of OFG Bancorp stock in a transaction dated 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 directly owns 63,470 shares in the company, valued at $2,630,196.80. The trade was a 7.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.11% of the company's stock.

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.