Jose Rafael Fernandez Sells 25,232 Shares of OFG Bancorp (NYSE:OFG) Stock

OFG Bancorp (NYSE:OFG) CEO Jose Rafael Fernandez sold 25,232 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $40.95, for a total transaction of $1,033,250.40. Following the transaction, the chief executive officer owned 184,675 shares in the company, valued at $7,562,441.25. This represents a 12.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Jose Rafael Fernandez also recently made the following trade(s):

• On Tuesday, November 11th, Jose Rafael Fernandez sold 4,768 shares of OFG Bancorp stock. The stock was sold at an average price of $40.53, for a total transaction of $193,247.04.

OFG Bancorp Stock Performance

OFG Bancorp stock opened at $40.67 on Friday. OFG Bancorp has a fifty-two week low of $33.15 and a fifty-two week high of $47.66. The stock’s 50 day simple moving average is $42.06 and its two-hundred day simple moving average is $42.48. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.87 and a current ratio of 0.85. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 9.24 and a beta of 0.84.

OFG Bancorp (NYSE:OFG) last released its earnings results on Wednesday, October 22nd. The bank reported $1.16 EPS for the quarter, meeting analysts’ consensus estimates of $1.16. The company had revenue of $184.00 million during the quarter, compared to analysts’ expectations 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 last year, the business posted $1.00 EPS. As a group, analysts expect that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Wednesday, December 31st. OFG Bancorp’s payout ratio is 27.27%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on OFG shares. Wall Street Zen raised shares of OFG Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, July 20th. Zacks Research raised shares of OFG Bancorp to a “hold” rating in a research note on Friday, October 10th. Keefe, Bruyette & Woods lowered their target price on shares of OFG Bancorp from $51.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, October 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of OFG Bancorp in a research report on Wednesday, October 8th. Finally, UBS Group set a $50.00 price objective on OFG Bancorp in a research report on Thursday, October 9th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.17.

Institutional Investors Weigh In On OFG Bancorp

A number of institutional investors have recently made changes to their positions in the company. Nuveen LLC bought a new position in shares of OFG Bancorp during the first quarter valued at $44,749,000. Empowered Funds LLC increased its holdings in OFG Bancorp by 211.0% in the 2nd quarter. Empowered Funds LLC now owns 421,742 shares of the bank’s stock worth $18,051,000 after buying an additional 286,113 shares in the last quarter. Burney Co. purchased a new position in OFG Bancorp in the 2nd quarter worth about $10,236,000. Millennium Management LLC raised its position in OFG Bancorp by 73.1% in the 1st quarter. Millennium Management LLC now owns 534,039 shares of the bank’s stock worth $21,372,000 after buying an additional 225,472 shares during the last quarter. Finally, CSM Advisors LLC bought a new position in OFG Bancorp during the 2nd quarter valued at about $8,235,000. Hedge funds and other institutional investors own 92.73% of the company’s stock.

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.