SG Americas Securities LLC Sells 5,086 Shares of OFG Bancorp $OFG

SG Americas Securities LLC decreased its position in OFG Bancorp (NYSE:OFG) by 16.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,504 shares of the bank’s stock after selling 5,086 shares during the quarter. SG Americas Securities LLC’s holdings in OFG Bancorp were worth $1,092,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in OFG. SummerHaven Investment Management LLC boosted its stake in OFG Bancorp by 1.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 20,898 shares of the bank’s stock valued at $894,000 after purchasing an additional 391 shares during the period. Wedge Capital Management L L P NC lifted its holdings in shares of OFG Bancorp by 1.5% during the second quarter. Wedge Capital Management L L P NC now owns 26,409 shares of the bank’s stock worth $1,130,000 after buying an additional 394 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of OFG Bancorp by 4.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,219 shares of the bank’s stock worth $437,000 after buying an additional 396 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of OFG Bancorp by 5.0% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,531 shares of the bank’s stock valued at $494,000 after acquiring an additional 547 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of OFG Bancorp by 2.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,719 shares of the bank’s stock valued at $1,069,000 after acquiring an additional 552 shares in the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on OFG shares. Zacks Research raised shares of OFG Bancorp to a “hold” rating in a research report on Friday, October 10th. Weiss Ratings restated a “buy (b)” rating on shares of OFG Bancorp in a research report on Wednesday, October 8th. Wells Fargo & Company dropped their price target on shares of OFG Bancorp from $48.00 to $43.00 and set an “equal weight” rating for the company in a research report on Monday, October 27th. Truist Financial cut their price target on OFG Bancorp from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Finally, Keefe, Bruyette & Woods reduced their price target on OFG Bancorp from $51.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, October 23rd. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $47.17.

Insider Transactions at OFG Bancorp

In other news, Director Jorge Colon sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $40.85, for a total value of $1,021,250.00. Following the sale, the director directly owned 27,543 shares in the company, valued at approximately $1,125,131.55. This trade represents a 47.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jose Rafael Fernandez sold 25,232 shares of OFG Bancorp stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $40.95, for a total transaction of $1,033,250.40. Following the sale, the chief executive officer directly owned 184,675 shares in the company, valued at $7,562,441.25. This trade represents a 12.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 55,000 shares of company stock valued at $2,247,747 in the last three months. Company insiders own 3.11% of the company’s stock.

OFG Bancorp Trading Up 1.1%

Shares of OFG stock opened at $39.76 on Friday. The stock’s fifty day moving average price is $41.53 and its two-hundred day moving average price is $42.46. The company has a market cap of $1.75 billion, a PE ratio of 9.04 and a beta of 0.84. OFG Bancorp has a fifty-two week low of $33.15 and a fifty-two week high of $47.66. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.87 and a current ratio of 0.85.

OFG Bancorp (NYSE:OFG) last issued its quarterly earnings results on Wednesday, October 22nd. The bank reported $1.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.16. OFG Bancorp had a return on equity of 15.18% and a net margin of 22.26%.The company had revenue of $184.00 million for the quarter, compared to analyst estimates of $186.71 million. During the same quarter last year, the company posted $1.00 EPS. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities analysts predict that OFG Bancorp will post 4.18 EPS for the current fiscal year.

OFG Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.20 annualized dividend and a yield of 3.0%. OFG Bancorp’s payout ratio is presently 27.27%.

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.