Healthcare of Ontario Pension Plan Trust Fund Sells 63,276 Shares of OFG Bancorp $OFG

Healthcare of Ontario Pension Plan Trust Fund decreased its position in OFG Bancorp (NYSE:OFG) by 49.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,814 shares of the bank’s stock after selling 63,276 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in OFG Bancorp were worth $2,663,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Unison Advisors LLC lifted its holdings in OFG Bancorp by 0.7% during the 1st quarter. Unison Advisors LLC now owns 30,823 shares of the bank’s stock worth $1,258,000 after purchasing an additional 221 shares during the last quarter. Trexquant Investment LP boosted its stake in OFG Bancorp by 0.4% in the 4th quarter. Trexquant Investment LP now owns 102,933 shares of the bank’s stock valued at $4,218,000 after purchasing an additional 446 shares during the period. Polymer Capital Management US LLC grew its holdings in OFG Bancorp by 5.6% in the 4th quarter. Polymer Capital Management US LLC now owns 8,740 shares of the bank’s stock valued at $358,000 after buying an additional 466 shares in the last quarter. California State Teachers Retirement System grew its holdings in OFG Bancorp by 1.2% in the 2nd quarter. California State Teachers Retirement System now owns 42,955 shares of the bank’s stock valued at $1,838,000 after buying an additional 506 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in OFG Bancorp by 2.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,719 shares of the bank’s stock worth $1,069,000 after buying an additional 552 shares during the period. Institutional investors own 92.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “buy (b)” rating on shares of OFG Bancorp in a report on Friday, July 10th. Zacks Research upgraded shares of OFG Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Benchmark initiated coverage on shares of OFG Bancorp in a research report on Tuesday, July 14th. They set a “hold” rating on the stock. Piper Sandler set a $56.00 price objective on shares of OFG Bancorp in a research note on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of OFG Bancorp from $52.00 to $57.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

OFG Bancorp Price Performance

OFG Bancorp stock opened at $52.92 on Friday. The stock’s fifty day moving average price is $48.72 and its two-hundred day moving average price is $44.24. OFG Bancorp has a one year low of $35.71 and a one year high of $53.30. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.86. The firm has a market cap of $2.24 billion, a PE ratio of 10.42 and a beta of 0.70.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings data on Tuesday, July 21st. The bank reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.22. The firm had revenue of $190.32 million during the quarter, compared to analysts’ expectations of $182.64 million. OFG Bancorp had a return on equity of 15.92% and a net margin of 24.08%.During the same period in the previous year, the firm earned $1.15 EPS. As a group, research analysts expect that OFG Bancorp will post 5.05 EPS for the current fiscal year.

OFG Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, September 30th. OFG Bancorp’s payout ratio is 27.56%.

Insider Buying and Selling

In related news, CEO Jose Rafael Fernandez sold 52,352 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $52.45, for a total transaction of $2,745,862.40. Following the completion of the sale, the chief executive officer owned 152,657 shares of the company’s stock, valued at $8,006,859.65. This represents a 25.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.23% of the stock is currently owned by company insiders.

About OFG Bancorp

OFG Bancorp, through its principal subsidiary Oriental Bank, is a financial holding company headquartered in San Juan, Puerto Rico. The company provides a wide range of banking services, including commercial and consumer deposit accounts, small business loans, corporate lending, treasury management, and cash management solutions. Its consumer offerings encompass personal checking and savings accounts, credit cards, and electronic banking platforms designed to serve retail customers across its markets.

In addition to traditional banking products, OFG Bancorp offers mortgage origination and servicing, as well as wealth management and trust services for high‐net‐worth individuals and institutional clients.