Balyasny Asset Management L.P. Boosts Stock Holdings in OFG Bancorp (NYSE:OFG)

Balyasny Asset Management L.P. boosted its position in shares of OFG Bancorp (NYSE:OFG - Free Report) by 310.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,935 shares of the bank's stock after buying an additional 75,599 shares during the period. Balyasny Asset Management L.P. owned approximately 0.22% of OFG Bancorp worth $4,229,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of OFG. Barclays PLC grew its stake in OFG Bancorp by 83.6% during the third quarter. Barclays PLC now owns 96,045 shares of the bank's stock worth $4,314,000 after buying an additional 43,738 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of 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 purchasing an additional 263 shares in the last quarter. Diversified Trust Co boosted its stake in shares of OFG Bancorp by 9.5% in the 4th quarter. Diversified Trust Co now owns 15,399 shares of the bank's stock valued at $652,000 after purchasing an additional 1,330 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of OFG Bancorp by 9.6% in the 4th quarter. Wedge Capital Management L L P NC now owns 21,959 shares of the bank's stock valued at $929,000 after purchasing an additional 1,931 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of OFG Bancorp by 736.8% in the 4th 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.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OFG. Keefe, Bruyette & Woods cut 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 report on Thursday, April 24th. Piper Sandler cut their target price on shares of OFG Bancorp from $44.00 to $42.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Hovde Group cut their target price on shares of OFG Bancorp from $53.50 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Finally, Wells Fargo & Company downgraded shares of OFG Bancorp from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $48.00 to $42.00 in a research report on Wednesday, April 9th.

OFG Bancorp Trading Up 0.1%

OFG Bancorp stock traded up $0.03 during mid-day trading on Wednesday, hitting $42.63. 295,740 shares of the stock were exchanged, compared to its average volume of 308,778. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. OFG Bancorp has a 12 month low of $33.15 and a 12 month high of $47.66. The firm's fifty day simple moving average is $38.78 and its two-hundred day simple moving average is $41.59. The stock has a market capitalization 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 quarterly earnings results on Wednesday, April 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.02). OFG Bancorp had a return on equity of 15.80% and a net margin of 22.71%. The firm had revenue of $178.30 million for the quarter, compared to the consensus estimate of $175.35 million. During the same quarter in the previous year, the business posted $1.05 EPS. Analysts forecast that OFG Bancorp will post 4.18 EPS for the current year.

OFG Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.20 annualized dividend and a dividend yield of 2.81%. OFG Bancorp's dividend payout ratio is currently 28.78%.

Insider Activity

In other OFG Bancorp news, CFO Maritza Arizmendi sold 5,000 shares of the business's stock in a transaction on 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 sale, the chief financial officer now owns 63,470 shares in the company, valued at approximately $2,630,196.80. The trade was a 7.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.11% of the stock is currently owned by company 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.