OFG Bancorp (NYSE:OFG) Director Jorge Colon Sells 25,000 Shares

OFG Bancorp (NYSE:OFG) Director Jorge Colon sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $40.85, for a total value of $1,021,250.00. Following the sale, the director owned 27,543 shares of the company’s stock, valued at $1,125,131.55. This trade represents a 47.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

OFG Bancorp Stock Performance

NYSE:OFG opened at $40.78 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.85 and a quick ratio of 0.87. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 9.27 and a beta of 0.84. The firm’s fifty day moving average price is $42.16 and its 200 day moving average price is $42.49. OFG Bancorp has a 1-year low of $33.15 and a 1-year high of $47.66.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings data on Wednesday, October 22nd. The bank reported $1.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.16. The company had revenue of $184.00 million for the quarter, compared to analyst estimates of $186.71 million. OFG Bancorp had a return on equity of 15.18% and a net margin of 22.26%.The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.00 EPS. On average, sell-side analysts expect 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 Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.9%. The ex-dividend date is Wednesday, December 31st. OFG Bancorp’s dividend payout ratio is presently 27.27%.

Analysts Set New Price Targets

OFG has been the subject of several research reports. Keefe, Bruyette & Woods reduced their price objective on OFG Bancorp from $51.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, October 23rd. Wall Street Zen raised shares of OFG Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, July 20th. Wells Fargo & Company reduced their price objective on OFG Bancorp from $48.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Monday, October 27th. UBS Group set a $50.00 price target on OFG Bancorp in a research note on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of OFG Bancorp in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, OFG Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.17.

Institutional Trading of OFG Bancorp

A number of institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC bought a new stake in OFG Bancorp during the third quarter worth approximately $53,000. EverSource Wealth Advisors LLC increased its stake in shares of OFG Bancorp by 250.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,533 shares of the bank’s stock worth $66,000 after purchasing an additional 1,095 shares during the period. Raymond James Financial Inc. bought a new position in OFG Bancorp during the second quarter worth $97,000. Quarry LP raised its stake in shares of OFG Bancorp by 458.9% in the first quarter. Quarry LP now owns 2,666 shares of the bank’s stock valued at $107,000 after purchasing an additional 2,189 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of OFG Bancorp during the 2nd quarter worth about $162,000. 92.73% of the stock is owned by institutional investors and hedge funds.

About OFG Bancorp

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.