OFG Bancorp (NYSE:OFG) Shares Acquired by Jacobs Asset Management LLC

Jacobs Asset Management LLC increased its position in shares of OFG Bancorp (NYSE:OFG) by 14.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,000 shares of the bank’s stock after acquiring an additional 12,500 shares during the quarter. OFG Bancorp makes up about 2.5% of Jacobs Asset Management LLC’s portfolio, making the stock its 15th biggest holding. Jacobs Asset Management LLC owned approximately 0.22% of OFG Bancorp worth $4,232,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of OFG Bancorp by 48.9% during the 4th quarter. GAMMA Investing LLC now owns 801 shares of the bank’s stock worth $34,000 after purchasing an additional 263 shares during the period. TD Waterhouse Canada Inc. grew its position in shares of OFG Bancorp by 1.8% during the fourth quarter. TD Waterhouse Canada Inc. now owns 21,041 shares of the bank’s stock worth $890,000 after buying an additional 369 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of OFG Bancorp by 0.5% during the fourth quarter. Prudential Financial Inc. now owns 67,999 shares of the bank’s stock worth $2,878,000 after buying an additional 370 shares during the period. Bank of Montreal Can raised its holdings in OFG Bancorp by 9.0% in the fourth quarter. Bank of Montreal Can now owns 5,295 shares of the bank’s stock valued at $224,000 after acquiring an additional 438 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in OFG Bancorp by 196.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank’s stock valued at $44,000 after acquiring an additional 680 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

OFG Bancorp Trading Down 0.9 %

Shares of OFG Bancorp stock opened at $41.24 on Friday. The company has a market capitalization of $1.87 billion, a P/E ratio of 9.77 and a beta of 0.73. OFG Bancorp has a 1 year low of $33.15 and a 1 year high of $47.66. The company’s fifty day moving average is $38.71 and its two-hundred day moving average is $41.54. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.85.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.02). OFG Bancorp had a net margin of 22.71% and a return on equity of 15.80%. The firm had revenue of $178.30 million during the quarter, compared to analyst estimates of $175.35 million. During the same period in the prior year, the firm posted $1.05 earnings per share. Analysts forecast that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Monday, June 30th. OFG Bancorp’s dividend payout ratio (DPR) is 28.78%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on OFG shares. Piper Sandler lowered their price objective on OFG Bancorp from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Wells Fargo & Company downgraded OFG Bancorp from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $48.00 to $42.00 in a report on Wednesday, April 9th. Hovde Group cut their price objective on shares of OFG Bancorp from $53.50 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of OFG Bancorp from $53.00 to $48.00 and set an “outperform” rating for the company in a report on Thursday, April 24th.

Insider Activity

In other OFG Bancorp news, CFO Maritza Arizmendi sold 5,000 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $41.44, for a total value of $207,200.00. Following the completion of the transaction, the chief financial officer now owns 63,470 shares in the company, valued at approximately $2,630,196.80. This represents a 7.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.11% of the company’s stock.

OFG Bancorp Company 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.