OFG Bancorp (NYSE:OFG) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lessened its position in OFG Bancorp (NYSE:OFG - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 446,864 shares of the bank's stock after selling 10,938 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.97% of OFG Bancorp worth $18,911,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of OFG. GAMMA Investing LLC lifted its stake in shares of OFG Bancorp by 48.9% during the 4th quarter. GAMMA Investing LLC now owns 801 shares of the bank's stock worth $34,000 after purchasing an additional 263 shares during the period. TD Waterhouse Canada Inc. lifted its position in OFG Bancorp by 1.8% during the fourth quarter. TD Waterhouse Canada Inc. now owns 21,041 shares of the bank's stock worth $890,000 after buying an additional 369 shares during the period. Prudential Financial Inc. boosted its stake in OFG Bancorp by 0.5% in the 4th 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 last quarter. Bank of Montreal Can grew its holdings in OFG Bancorp by 9.0% in the 4th quarter. Bank of Montreal Can now owns 5,295 shares of the bank's stock valued at $224,000 after buying an additional 438 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of OFG Bancorp by 196.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank's stock valued at $44,000 after acquiring an additional 680 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company's stock.

OFG Bancorp Stock Down 0.8%

Shares of NYSE:OFG traded down $0.33 during midday trading on Friday, hitting $42.52. 252,029 shares of the company's stock traded hands, compared to its average volume of 308,733. The firm's fifty day moving average price is $38.88 and its two-hundred day moving average price is $41.61. 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 twelve month low of $33.15 and a twelve month high of $47.66. The company has a market cap of $1.91 billion, a PE ratio of 10.08 and a beta of 0.73.

OFG Bancorp (NYSE:OFG - Get Free Report) last issued 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). The company had revenue of $178.30 million during the quarter, compared to analysts' expectations of $175.35 million. OFG Bancorp had a return on equity of 15.80% and a net margin of 22.71%. During the same period in the previous year, the company earned $1.05 EPS. On average, equities research analysts anticipate that OFG Bancorp will post 4.18 EPS for the current fiscal year.

OFG Bancorp Announces Dividend

The company 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 dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.82%. OFG Bancorp's dividend payout ratio is currently 28.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on OFG shares. Hovde Group lowered their target price on shares of OFG Bancorp from $53.50 to $50.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Keefe, Bruyette & Woods lowered their price objective on shares of OFG Bancorp from $53.00 to $48.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Piper Sandler reduced their target price on OFG Bancorp from $44.00 to $42.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Finally, Wells Fargo & Company lowered 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.

Insider Transactions at OFG Bancorp

In related news, CFO Maritza Arizmendi sold 5,000 shares of OFG Bancorp 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 sale, the chief financial officer now owns 63,470 shares of the company's stock, valued at $2,630,196.80. The trade was a 7.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate 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.