Schonfeld Strategic Advisors LLC Takes Position in OFG Bancorp (NYSE:OFG)

Schonfeld Strategic Advisors LLC acquired a new position in OFG Bancorp (NYSE:OFG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,100 shares of the bank's stock, valued at approximately $512,000.

Other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of OFG Bancorp by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,652,224 shares of the bank's stock valued at $69,922,000 after buying an additional 14,618 shares in the last quarter. American Century Companies Inc. increased its stake in OFG Bancorp by 8.3% in the fourth quarter. American Century Companies Inc. now owns 1,167,849 shares of the bank's stock valued at $49,423,000 after acquiring an additional 89,450 shares during the period. JPMorgan Chase & Co. raised its position in OFG Bancorp by 5.0% in the fourth quarter. JPMorgan Chase & Co. now owns 894,049 shares of the bank's stock worth $37,836,000 after purchasing an additional 42,335 shares in the last quarter. Northern Trust Corp lifted its stake in OFG Bancorp by 8.0% during the fourth quarter. Northern Trust Corp now owns 650,844 shares of the bank's stock worth $27,544,000 after purchasing an additional 48,442 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in OFG Bancorp by 1.7% during the fourth quarter. Russell Investments Group Ltd. now owns 259,232 shares of the bank's stock worth $10,971,000 after purchasing an additional 4,353 shares during the period. Institutional investors and hedge funds own 92.73% of the company's stock.

OFG Bancorp Price Performance

Shares of OFG Bancorp stock traded up $0.22 during trading on Tuesday, reaching $42.61. The company's stock had a trading volume of 162,491 shares, compared to its average volume of 308,006. The stock has a 50-day moving average price of $38.78 and a two-hundred day moving average price of $41.59. The stock has a market capitalization of $1.94 billion, a P/E ratio of 10.10 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 has a one year low of $33.15 and a one year high of $47.66.

OFG Bancorp (NYSE:OFG - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.02 by ($0.02). OFG Bancorp had a return on equity of 15.80% and a net margin of 22.71%. The company had revenue of $178.30 million for the quarter, compared to analyst estimates of $175.35 million. During the same quarter in the previous year, the company posted $1.05 earnings per share. As a group, sell-side analysts anticipate 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. Stockholders of record on Monday, June 30th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Monday, June 30th. OFG Bancorp's dividend payout ratio (DPR) is presently 28.78%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Hovde Group dropped their target price on OFG Bancorp from $53.50 to $50.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Piper Sandler dropped their price objective on OFG Bancorp from $44.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Keefe, Bruyette & Woods reduced 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 note on Thursday, April 24th. Finally, Wells Fargo & Company cut shares of OFG Bancorp from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $48.00 to $42.00 in a research report on Wednesday, April 9th.

Insider Activity

In other 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 transaction, the chief financial officer now directly owns 63,470 shares of the company's stock, 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 document filed with the SEC, which is available through this hyperlink. 3.11% of the stock is currently owned by insiders.

About OFG Bancorp

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.