Jacobs Asset Management LLC Buys 12,500 Shares of OFG Bancorp (NYSE:OFG)

Jacobs Asset Management LLC raised its holdings in OFG Bancorp (NYSE:OFG - Free Report) by 14.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 100,000 shares of the bank's stock after acquiring an additional 12,500 shares during the period. OFG Bancorp comprises about 2.5% of Jacobs Asset Management LLC's investment portfolio, making the stock its 15th largest holding. Jacobs Asset Management LLC owned about 0.22% of OFG Bancorp worth $4,232,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. GAMMA Investing LLC lifted its position in OFG Bancorp by 48.9% in the 4th quarter. GAMMA Investing LLC now owns 801 shares of the bank's stock valued at $34,000 after acquiring an additional 263 shares in the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of OFG Bancorp by 1.8% in the fourth quarter. TD Waterhouse Canada Inc. now owns 21,041 shares of the bank's stock valued at $890,000 after purchasing an additional 369 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of OFG Bancorp by 0.5% during the fourth quarter. Prudential Financial Inc. now owns 67,999 shares of the bank's stock worth $2,878,000 after buying an additional 370 shares during the period. Bank of Montreal Can boosted its position in shares of OFG Bancorp by 9.0% during the fourth quarter. Bank of Montreal Can now owns 5,295 shares of the bank's stock worth $224,000 after buying an additional 438 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in shares of OFG Bancorp by 196.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank's stock worth $44,000 after buying an additional 680 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors.

OFG Bancorp Stock Down 0.8%

NYSE OFG traded down $0.33 during trading hours on Friday, hitting $42.52. 252,029 shares of the company traded hands, compared to its average volume of 308,733. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.85. The business's 50-day moving average is $38.88 and its 200-day moving average is $41.61. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 10.08 and a beta of 0.73. OFG Bancorp has a twelve month low of $33.15 and a twelve month high of $47.66.

OFG Bancorp (NYSE:OFG - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.00 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.02). The company had revenue of $178.30 million during the quarter, compared to analyst estimates of $175.35 million. OFG Bancorp had a net margin of 22.71% and a return on equity of 15.80%. During the same period in the previous year, the company posted $1.05 EPS. Sell-side analysts anticipate that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Monday, June 30th. OFG Bancorp's dividend payout ratio is currently 28.78%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Keefe, Bruyette & Woods cut their target price 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. 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 report on Thursday, April 24th. Piper Sandler reduced their target price on shares of OFG Bancorp from $44.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Finally, Wells Fargo & Company downgraded shares of OFG Bancorp from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $48.00 to $42.00 in a research report on Wednesday, April 9th.

Insider Activity

In related 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 value 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 approximately $2,630,196.80. This trade represents a 7.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.11% of the company's stock.

OFG Bancorp Company 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.