OFG Bancorp (NYSE:OFG) Shares Sold by Mitsubishi UFJ Asset Management UK Ltd.

Mitsubishi UFJ Asset Management UK Ltd. lessened its stake in OFG Bancorp (NYSE:OFG) by 22.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,000 shares of the bank’s stock after selling 6,000 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in OFG Bancorp were worth $943,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in OFG. Capstone Investment Advisors LLC purchased a new position in OFG Bancorp in the first quarter valued at about $844,000. Janney Montgomery Scott LLC acquired a new position in OFG Bancorp during the first quarter worth $649,000. Russell Investments Group Ltd. raised its holdings in OFG Bancorp by 6.1% during the first quarter. Russell Investments Group Ltd. now owns 242,526 shares of the bank’s stock worth $8,927,000 after purchasing an additional 13,869 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in OFG Bancorp by 172.3% in the first quarter. BNP Paribas Financial Markets now owns 36,467 shares of the bank’s stock valued at $1,342,000 after purchasing an additional 23,075 shares during the last quarter. Finally, Raffles Associates LP increased its position in shares of OFG Bancorp by 9.3% in the second quarter. Raffles Associates LP now owns 141,067 shares of the bank’s stock valued at $5,283,000 after buying an additional 12,000 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

OFG Bancorp Price Performance

OFG Bancorp stock traded down $0.81 during midday trading on Friday, reaching $40.76. 421,583 shares of the company were exchanged, compared to its average volume of 235,420. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 10.05 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s 50-day simple moving average is $43.69 and its 200-day simple moving average is $40.06. OFG Bancorp has a 1 year low of $28.32 and a 1 year high of $47.57.

OFG Bancorp (NYSE:OFG) last issued its quarterly earnings results on Wednesday, October 16th. The bank reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.02). The firm had revenue of $174.10 million for the quarter, compared to analysts’ expectations of $178.25 million. OFG Bancorp had a return on equity of 16.25% and a net margin of 22.95%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 earnings per share. On average, analysts anticipate that OFG Bancorp will post 4.27 EPS for the current year.

OFG Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Monday, September 30th. OFG Bancorp’s dividend payout ratio is presently 24.63%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of OFG Bancorp from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Piper Sandler lowered their price target on shares of OFG Bancorp from $49.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Hovde Group lifted their price objective on OFG Bancorp from $44.00 to $51.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd.

Insider Transactions at OFG Bancorp

In related news, Director Jorge Colon sold 33,081 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $45.73, for a total value of $1,512,794.13. Following the completion of the transaction, the director now directly owns 70,919 shares in the company, valued at approximately $3,243,125.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.16% of the company’s stock.

OFG Bancorp Company 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.