OFG Bancorp (NYSE:OFG) Shares Sold by X Square Capital LLC

X Square Capital LLC cut its stake in OFG Bancorp (NYSE:OFG) by 14.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,733 shares of the bank’s stock after selling 24,324 shares during the period. OFG Bancorp makes up about 2.8% of X Square Capital LLC’s portfolio, making the stock its 4th biggest holding. X Square Capital LLC owned approximately 0.31% of OFG Bancorp worth $6,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OFG. Goldman Sachs Group Inc. raised its holdings in OFG Bancorp by 58.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 611,132 shares of the bank’s stock valued at $22,905,000 after acquiring an additional 225,666 shares in the last quarter. American Century Companies Inc. raised its holdings in OFG Bancorp by 16.5% in the 2nd quarter. American Century Companies Inc. now owns 966,945 shares of the bank’s stock valued at $36,212,000 after acquiring an additional 136,813 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of OFG Bancorp by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 5,906,903 shares of the bank’s stock valued at $217,433,000 after purchasing an additional 63,883 shares during the last quarter. Marshall Wace LLP bought a new position in shares of OFG Bancorp in the 2nd quarter valued at $2,112,000. Finally, Renaissance Technologies LLC increased its stake in shares of OFG Bancorp by 293.2% in the 2nd quarter. Renaissance Technologies LLC now owns 63,700 shares of the bank’s stock valued at $2,386,000 after purchasing an additional 47,500 shares during the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OFG has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on OFG Bancorp from $40.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Piper Sandler decreased their price target on OFG Bancorp from $49.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Finally, Hovde Group lifted their price target on OFG Bancorp from $44.00 to $51.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd.

Insiders Place Their Bets

In other OFG Bancorp news, Director Jorge Colon sold 33,081 shares of OFG Bancorp stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $45.73, for a total transaction of $1,512,794.13. Following the transaction, the director now directly owns 70,919 shares of the company’s stock, valued at approximately $3,243,125.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.11% of the company’s stock.

OFG Bancorp Trading Down 1.4 %

Shares of OFG stock opened at $39.53 on Thursday. The firm has a market capitalization of $1.84 billion, a P/E ratio of 9.62 and a beta of 0.98. OFG Bancorp has a twelve month low of $28.41 and a twelve month high of $47.57. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.21. The stock’s fifty day simple moving average is $43.56 and its 200 day simple moving average is $40.18.

OFG Bancorp (NYSE:OFG) last issued its quarterly earnings data on Wednesday, October 16th. The bank reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.02). The firm had revenue of $174.10 million for the quarter, compared to the consensus estimate of $178.25 million. OFG Bancorp had a return on equity of 15.69% and a net margin of 22.68%. The company’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 EPS. As a group, sell-side analysts predict that OFG Bancorp will post 4.11 EPS for the current fiscal year.

OFG Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 2.53%. OFG Bancorp’s dividend payout ratio is currently 24.33%.

OFG Bancorp 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.