Susquehanna International Group LLP Reduces Stake in OFG Bancorp $OFG

Susquehanna International Group LLP reduced its stake in shares of OFG Bancorp (NYSE:OFG) by 51.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,928 shares of the bank’s stock after selling 19,111 shares during the period. Susquehanna International Group LLP’s holdings in OFG Bancorp were worth $880,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of OFG. Unison Advisors LLC raised its holdings in shares of OFG Bancorp by 0.7% in the 1st quarter. Unison Advisors LLC now owns 30,823 shares of the bank’s stock worth $1,258,000 after purchasing an additional 221 shares during the period. Trexquant Investment LP increased its position in OFG Bancorp by 0.4% in the fourth quarter. Trexquant Investment LP now owns 102,933 shares of the bank’s stock worth $4,218,000 after buying an additional 446 shares during the last quarter. Polymer Capital Management US LLC increased its position in OFG Bancorp by 5.6% in the fourth quarter. Polymer Capital Management US LLC now owns 8,740 shares of the bank’s stock worth $358,000 after buying an additional 466 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of OFG Bancorp by 1.2% in the second quarter. California State Teachers Retirement System now owns 42,955 shares of the bank’s stock valued at $1,838,000 after buying an additional 506 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of OFG Bancorp by 2.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,719 shares of the bank’s stock valued at $1,069,000 after buying an additional 552 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Insider Buying and Selling

In other OFG Bancorp news, Director Jesus Nestor De sold 4,000 shares of OFG Bancorp stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $53.00, for a total transaction of $212,000.00. Following the completion of the sale, the director directly owned 20,040 shares in the company, valued at $1,062,120. The trade was a 16.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Maritza Arizmendi sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $53.35, for a total transaction of $533,500.00. Following the completion of the transaction, the chief financial officer directly owned 56,684 shares of the company’s stock, valued at approximately $3,024,091.40. This represents a 15.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 66,352 shares of company stock worth $3,491,362. Insiders own 1.23% of the company’s stock.

OFG Bancorp Price Performance

NYSE:OFG opened at $52.52 on Monday. OFG Bancorp has a 52-week low of $35.71 and a 52-week high of $54.47. The stock has a fifty day moving average of $51.29 and a 200 day moving average of $46.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 10.34 and a beta of 0.69.

OFG Bancorp (NYSE:OFG) last announced its earnings results on Tuesday, July 21st. The bank reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.22. OFG Bancorp had a return on equity of 15.92% and a net margin of 24.08%.The business had revenue of $190.28 million for the quarter, compared to analyst estimates of $182.64 million. During the same period in the prior year, the company earned $1.15 EPS. On average, research analysts expect that OFG Bancorp will post 5.05 EPS for the current fiscal year.

OFG Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Wednesday, September 30th. OFG Bancorp’s dividend payout ratio is 27.56%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wells Fargo & Company lifted their price objective on OFG Bancorp from $49.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Truist Financial upped their price objective on shares of OFG Bancorp from $55.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Piper Sandler set a $56.00 target price on shares of OFG Bancorp in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods upped their price target on shares of OFG Bancorp from $52.00 to $57.00 and gave the company a “market perform” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of OFG Bancorp in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, OFG Bancorp has an average rating of “Moderate Buy” and an average target price of $55.20.

OFG Bancorp Company 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.