12,487 Shares in OFG Bancorp (NYSE:OFG) Acquired by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division acquired a new position in OFG Bancorp (NYSE:OFGFree Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 12,487 shares of the bank’s stock, valued at approximately $448,000.

Several other institutional investors have also recently bought and sold shares of the stock. First Trust Advisors LP raised its position in OFG Bancorp by 15.4% in the 4th quarter. First Trust Advisors LP now owns 752,740 shares of the bank’s stock worth $28,213,000 after purchasing an additional 100,661 shares during the last quarter. Goldman Sachs Group Inc. raised its position in OFG Bancorp by 58.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 611,132 shares of the bank’s stock worth $22,905,000 after purchasing an additional 225,666 shares during the last quarter. American Century Companies Inc. raised its position in OFG Bancorp by 9.9% in the 3rd quarter. American Century Companies Inc. now owns 568,693 shares of the bank’s stock worth $16,981,000 after purchasing an additional 51,391 shares during the last quarter. Deutsche Bank AG raised its position in OFG Bancorp by 0.8% in the 3rd quarter. Deutsche Bank AG now owns 364,442 shares of the bank’s stock worth $10,882,000 after purchasing an additional 2,849 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in OFG Bancorp by 3.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 308,562 shares of the bank’s stock worth $11,358,000 after purchasing an additional 10,186 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

Insider Activity

In other news, insider Ganesh Kumar sold 20,074 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $38.00, for a total value of $762,812.00. Following the completion of the transaction, the insider now owns 91,335 shares of the company’s stock, valued at approximately $3,470,730. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.16% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Wells Fargo & Company dropped their target price on shares of OFG Bancorp from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th.

Read Our Latest Report on OFG

OFG Bancorp Trading Up 0.1 %

Shares of OFG Bancorp stock traded up $0.02 on Wednesday, hitting $37.46. 3,880 shares of the company’s stock traded hands, compared to its average volume of 224,269. The firm’s 50-day moving average price is $37.04 and its two-hundred day moving average price is $36.43. The stock has a market capitalization of $1.76 billion, a PE ratio of 9.58 and a beta of 1.00. OFG Bancorp has a one year low of $26.99 and a one year high of $39.04. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.85.

OFG Bancorp (NYSE:OFGGet Free Report) last issued its earnings results on Thursday, April 18th. The bank reported $1.05 EPS for the quarter, beating the consensus estimate of $0.95 by $0.10. The company had revenue of $213.49 million during the quarter, compared to analysts’ expectations of $175.20 million. OFG Bancorp had a net margin of 23.00% and a return on equity of 16.10%. During the same quarter in the previous year, the company posted $0.96 EPS. On average, research analysts expect that OFG Bancorp will post 4.02 EPS for the current fiscal year.

OFG Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, June 28th. OFG Bancorp’s dividend payout ratio (DPR) is 25.58%.

About OFG Bancorp

(Free Report)

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.

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Institutional Ownership by Quarter for OFG Bancorp (NYSE:OFG)

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