Janus Henderson Group PLC Has $28.80 Million Position in OFG Bancorp $OFG

Janus Henderson Group PLC lessened its holdings in OFG Bancorp (NYSE:OFG) by 1.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 711,933 shares of the bank’s stock after selling 12,839 shares during the period. Janus Henderson Group PLC’s holdings in OFG Bancorp were worth $28,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Amundi boosted its position in shares of OFG Bancorp by 140.7% during the 1st quarter. Amundi now owns 16,005 shares of the bank’s stock valued at $648,000 after acquiring an additional 9,357 shares in the last quarter. Royal Bank of Canada raised its position in OFG Bancorp by 80.2% in the first quarter. Royal Bank of Canada now owns 3,901 shares of the bank’s stock worth $158,000 after purchasing an additional 1,736 shares in the last quarter. Empowered Funds LLC raised its position in OFG Bancorp by 19.9% in the first quarter. Empowered Funds LLC now owns 212,358 shares of the bank’s stock worth $8,592,000 after purchasing an additional 35,269 shares in the last quarter. Quantinno Capital Management LP raised its position in OFG Bancorp by 49.6% in the first quarter. Quantinno Capital Management LP now owns 8,473 shares of the bank’s stock worth $343,000 after purchasing an additional 2,808 shares in the last quarter. Finally, Jacobs Asset Management LLC lifted its stake in OFG Bancorp by 13.5% during the first quarter. Jacobs Asset Management LLC now owns 90,000 shares of the bank’s stock worth $3,641,000 after purchasing an additional 10,670 shares during the period. Institutional investors and hedge funds own 92.73% of the company’s stock.

OFG Bancorp Trading Up 0.1%

Shares of OFG stock opened at $52.92 on Monday. The company has a market capitalization of $2.24 billion, a P/E ratio of 10.42 and a beta of 0.69. OFG Bancorp has a 12-month low of $35.71 and a 12-month high of $53.30. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $48.72 and a 200 day moving average price of $44.26.

OFG Bancorp (NYSE:OFG) last issued its quarterly earnings data on Tuesday, July 21st. The bank reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.22. The firm had revenue of $190.32 million for the quarter, compared to analysts’ expectations of $182.64 million. OFG Bancorp had a net margin of 24.08% and a return on equity of 15.92%. During the same period in the prior year, the firm earned $1.15 earnings per share. Research analysts forecast that OFG Bancorp will post 5.05 earnings per share for the current fiscal year.

OFG Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, September 30th. OFG Bancorp’s payout ratio is presently 27.56%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on OFG shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OFG Bancorp in a report on Friday, July 10th. Benchmark assumed coverage on OFG Bancorp in a research report on Tuesday, July 14th. They set a “hold” rating for the company. Zacks Research upgraded OFG Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Piper Sandler set a $56.00 price target on OFG Bancorp in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company upped their price target on OFG Bancorp from $45.00 to $49.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.00.

Insider Buying and Selling

In related news, CEO Jose Rafael Fernandez sold 52,352 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $52.45, for a total transaction of $2,745,862.40. Following the sale, the chief executive officer directly owned 152,657 shares in the company, valued at $8,006,859.65. This represents a 25.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.23% of the stock is currently owned by company insiders.

OFG Bancorp Profile

OFG Bancorp, through its principal subsidiary Oriental Bank, is a financial holding company headquartered in San Juan, Puerto Rico. The company provides a wide range of banking services, including commercial and consumer deposit accounts, small business loans, corporate lending, treasury management, and cash management solutions. Its consumer offerings encompass personal checking and savings accounts, credit cards, and electronic banking platforms designed to serve retail customers across its markets.

In addition to traditional banking products, OFG Bancorp offers mortgage origination and servicing, as well as wealth management and trust services for high‐net‐worth individuals and institutional clients.