Janus Henderson Group PLC Sells 2,642 Shares of OFG Bancorp (NYSE:OFG)

Janus Henderson Group PLC lowered its holdings in OFG Bancorp (NYSE:OFG) by 0.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 849,268 shares of the bank’s stock after selling 2,642 shares during the period. Janus Henderson Group PLC owned about 1.81% of OFG Bancorp worth $31,261,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in OFG. Price T Rowe Associates Inc. MD grew its holdings in shares of OFG Bancorp by 25.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 152,899 shares of the bank’s stock valued at $5,629,000 after acquiring an additional 30,814 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of OFG Bancorp by 206.6% during the first quarter. Lazard Asset Management LLC now owns 4,161 shares of the bank’s stock worth $153,000 after purchasing an additional 2,804 shares during the period. EntryPoint Capital LLC acquired a new stake in OFG Bancorp during the 1st quarter worth approximately $121,000. CANADA LIFE ASSURANCE Co boosted its stake in OFG Bancorp by 4.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 54,096 shares of the bank’s stock valued at $1,989,000 after purchasing an additional 2,079 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its holdings in OFG Bancorp by 23.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 9,181 shares of the bank’s stock valued at $338,000 after buying an additional 1,765 shares in the last quarter. Institutional investors own 92.73% of the company’s stock.

Insider Buying and Selling at OFG Bancorp

In other OFG Bancorp news, insider Ganesh Kumar sold 6,695 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $37.93, for a total transaction of $253,941.35. Following the completion of the sale, the insider now directly owns 76,578 shares of the company’s stock, valued at approximately $2,904,603.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on OFG shares. Hovde Group lifted their target price on OFG Bancorp from $44.00 to $51.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Wells Fargo & Company lifted their price objective on shares of OFG Bancorp from $40.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd.

OFG Bancorp Trading Up 0.6 %

Shares of OFG stock traded up $0.29 during mid-day trading on Wednesday, reaching $45.83. 20,713 shares of the stock traded hands, compared to its average volume of 235,433. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 11.65 and a beta of 1.00. The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 0.16. The stock’s fifty day simple moving average is $38.75 and its two-hundred day simple moving average is $37.13. OFG Bancorp has a 1-year low of $28.18 and a 1-year high of $47.57.

OFG Bancorp (NYSE:OFG) last released its quarterly earnings results on Thursday, July 18th. The bank reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.12. OFG Bancorp had a return on equity of 16.25% and a net margin of 22.95%. The firm had revenue of $179.40 million for the quarter, compared to analyst estimates of $176.09 million. During the same quarter in the previous year, the company posted $0.93 EPS. The business’s revenue was up 5.2% on a year-over-year basis.

OFG Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Friday, June 28th. OFG Bancorp’s payout ratio is currently 25.58%.

OFG Bancorp 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.