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

Nuveen Asset Management LLC increased its holdings in shares of OFG Bancorp (NYSE:OFG) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,187,781 shares of the bank’s stock after buying an additional 9,658 shares during the period. Nuveen Asset Management LLC’s holdings in OFG Bancorp were worth $50,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. TD Waterhouse Canada Inc. lifted its position in shares of OFG Bancorp by 1.8% during the 4th quarter. TD Waterhouse Canada Inc. now owns 21,041 shares of the bank’s stock valued at $890,000 after buying an additional 369 shares in the last quarter. Prudential Financial Inc. lifted its holdings in OFG Bancorp by 0.5% in the 4th quarter. Prudential Financial Inc. now owns 67,999 shares of the bank’s stock valued at $2,878,000 after purchasing an additional 370 shares in the last quarter. Bank of Montreal Can lifted its holdings in OFG Bancorp by 9.0% in the 4th quarter. Bank of Montreal Can now owns 5,295 shares of the bank’s stock valued at $224,000 after purchasing an additional 438 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in OFG Bancorp by 196.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank’s stock valued at $44,000 after purchasing an additional 680 shares in the last quarter. Finally, KBC Group NV lifted its holdings in OFG Bancorp by 39.7% in the 4th quarter. KBC Group NV now owns 2,620 shares of the bank’s stock valued at $111,000 after purchasing an additional 745 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

OFG Bancorp Price Performance

Shares of OFG opened at $42.53 on Tuesday. OFG Bancorp has a 52-week low of $33.15 and a 52-week high of $47.66. The company has a market capitalization of $1.91 billion, a PE ratio of 10.08 and a beta of 0.73. The stock has a fifty day simple moving average of $39.02 and a two-hundred day simple moving average of $41.65. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.26.

OFG Bancorp (NYSE:OFG) last issued its earnings results on Wednesday, April 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.02). OFG Bancorp had a return on equity of 15.80% and a net margin of 22.71%. The company had revenue of $178.30 million during the quarter, compared to analyst estimates of $175.35 million. During the same period last year, the business earned $1.05 earnings per share. As a group, equities analysts forecast that OFG Bancorp will post 4.18 EPS for the current year.

OFG Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Monday, June 30th. OFG Bancorp’s dividend payout ratio (DPR) is presently 28.78%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other OFG Bancorp news, CFO Maritza Arizmendi sold 5,000 shares of the firm’s 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 sale, the chief financial officer now directly owns 63,470 shares of the company’s stock, valued at $2,630,196.80. This trade represents a 7.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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.