Jacobs Levy Equity Management Inc. Has $18.91 Million Stock Position in OFG Bancorp (NYSE:OFG)

Jacobs Levy Equity Management Inc. trimmed its holdings in shares of OFG Bancorp (NYSE:OFG - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent 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 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. GAMMA Investing LLC raised its holdings 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 during the period. R Squared Ltd bought a new position in OFG Bancorp in the 4th quarter valued at about $44,000. Smartleaf Asset Management LLC raised its holdings in OFG Bancorp by 196.5% in 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 period. Meeder Asset Management Inc. bought a new position in OFG Bancorp in the 4th quarter valued at about $44,000. Finally, Blue Trust Inc. raised its holdings in OFG Bancorp by 84.8% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the bank's stock valued at $93,000 after acquiring an additional 946 shares during the period. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other OFG Bancorp news, CFO Maritza Arizmendi sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $41.44, for a total value of $207,200.00. Following the sale, the chief financial officer now owns 63,470 shares in the company, valued at $2,630,196.80. This trade represents a 7.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 3.11% of the stock is currently owned by company insiders.

OFG Bancorp Stock Performance

Shares of NYSE:OFG traded down $0.33 on Friday, reaching $42.52. 252,029 shares of the company's stock were exchanged, compared to its average volume of 310,200. The company has a fifty day moving average of $38.96 and a 200-day moving average of $41.64. OFG Bancorp has a twelve month low of $33.15 and a twelve month high of $47.66. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 10.08 and a beta of 0.73. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26.

OFG Bancorp (NYSE:OFG - Get Free Report) last posted 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). The firm had revenue of $178.30 million for the quarter, compared to analyst estimates of $175.35 million. OFG Bancorp had a return on equity of 15.80% and a net margin of 22.71%. During the same quarter in the prior year, the business posted $1.05 EPS. On average, research analysts predict that OFG Bancorp will post 4.18 EPS for the current fiscal year.

OFG Bancorp Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have weighed in on OFG shares. Hovde Group lowered their price target 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 lowered their price target on shares of OFG Bancorp from $44.00 to $42.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company lowered shares of OFG Bancorp from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $48.00 to $42.00 in a research report on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods decreased 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.

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.