Universal Beteiligungs und Servicegesellschaft mbH Sells 36,754 Shares of OFG Bancorp (NYSE:OFG)

Universal Beteiligungs und Servicegesellschaft mbH cut its position in OFG Bancorp (NYSE:OFG) by 21.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 135,482 shares of the bank’s stock after selling 36,754 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in OFG Bancorp were worth $5,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new stake in shares of OFG Bancorp in the fourth quarter valued at about $44,000. Point72 Asset Management L.P. acquired a new stake in OFG Bancorp in the 4th quarter worth about $172,000. Bridgefront Capital LLC bought a new stake in OFG Bancorp in the 4th quarter valued at about $221,000. Bank of Montreal Can grew its position in shares of OFG Bancorp by 9.0% during the 4th quarter. Bank of Montreal Can now owns 5,295 shares of the bank’s stock worth $224,000 after purchasing an additional 438 shares in the last quarter. Finally, Oxford Asset Management LLP acquired a new position in shares of OFG Bancorp during the 4th quarter worth approximately $225,000. 92.73% of the stock is owned by institutional investors and hedge funds.

OFG Bancorp Price Performance

OFG Bancorp stock opened at $43.32 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 0.87. OFG Bancorp has a 52 week low of $33.15 and a 52 week high of $47.66. The stock has a market capitalization of $1.95 billion, a P/E ratio of 10.22 and a beta of 0.75. The stock has a fifty day moving average of $42.71 and a 200-day moving average of $41.31.

OFG Bancorp (NYSE:OFG) last issued its earnings results on Thursday, July 17th. The bank reported $1.15 EPS for the quarter, topping the consensus estimate of $1.05 by $0.10. OFG Bancorp had a return on equity of 14.97% and a net margin of 22.06%. The firm had revenue of $182.20 million during the quarter, compared to the consensus estimate of $181.50 million. During the same quarter in the previous year, the firm earned $1.08 earnings per share. The business’s quarterly revenue was up 1.6% on a year-over-year basis. On average, sell-side analysts expect that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.77%. The ex-dividend date was Monday, June 30th. OFG Bancorp’s payout ratio is 28.30%.

Insiders Place Their Bets

In other OFG Bancorp news, CFO Maritza Arizmendi sold 5,000 shares of the business’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $41.44, for a total transaction of $207,200.00. Following the sale, the chief financial officer owned 63,470 shares of the company’s stock, valued at approximately $2,630,196.80. The trade was a 7.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OFG. Piper Sandler cut their price target on OFG Bancorp from $44.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Wall Street Zen upgraded OFG Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, July 20th. Keefe, Bruyette & Woods raised their price target on OFG Bancorp from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, July 18th. Hovde Group dropped their price target on OFG Bancorp from $53.50 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Finally, Wells Fargo & Company increased their price objective on shares of OFG Bancorp from $42.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, OFG Bancorp has an average rating of “Moderate Buy” and a consensus target price of $47.50.

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.