Stieven Capital Advisors L.P. Cuts Holdings in OFG Bancorp (NYSE:OFG)

Stieven Capital Advisors L.P. lowered its stake in shares of OFG Bancorp (NYSE:OFG) by 17.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 192,636 shares of the bank’s stock after selling 41,125 shares during the period. Stieven Capital Advisors L.P.’s holdings in OFG Bancorp were worth $8,152,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in shares of OFG Bancorp by 48.9% during the 4th quarter. GAMMA Investing LLC now owns 801 shares of the bank’s stock worth $34,000 after purchasing an additional 263 shares during the last quarter. R Squared Ltd purchased a new stake in shares of OFG Bancorp during the fourth quarter valued at about $44,000. Blue Trust Inc. lifted its position in shares of OFG Bancorp by 2,377.8% during the third quarter. Blue Trust Inc. now owns 1,115 shares of the bank’s stock valued at $50,000 after buying an additional 1,070 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of OFG Bancorp by 4,014.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,975 shares of the bank’s stock valued at $89,000 after buying an additional 1,927 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of OFG Bancorp by 736.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,385 shares of the bank’s stock worth $101,000 after buying an additional 2,100 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

OFG Bancorp Trading Down 3.7 %

Shares of NYSE:OFG opened at $41.74 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. OFG Bancorp has a 52-week low of $33.19 and a 52-week high of $47.66. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 9.89 and a beta of 1.00. The business has a 50-day moving average price of $42.97 and a 200-day moving average price of $43.28.

OFG Bancorp (NYSE:OFG) last posted its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.12. OFG Bancorp had a net margin of 22.71% and a return on equity of 15.80%. During the same quarter last year, the firm posted $0.98 earnings per share. Equities analysts predict that OFG Bancorp will post 4.18 EPS for the current year.

OFG Bancorp declared that its Board of Directors has authorized a share repurchase program on Monday, October 28th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the bank to buy up to 2.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

OFG Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from OFG Bancorp’s previous quarterly dividend of $0.25. OFG Bancorp’s dividend payout ratio (DPR) is 23.70%.

Insider Activity at OFG Bancorp

In other OFG Bancorp news, CEO Jose Rafael Fernandez sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $45.24, for a total value of $2,262,000.00. Following the completion of the transaction, the chief executive officer now directly owns 284,775 shares of the company’s stock, valued at approximately $12,883,221. The trade was a 14.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OFG. Wells Fargo & Company increased their price objective on OFG Bancorp from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Keefe, Bruyette & Woods upped their price target on shares of OFG Bancorp from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd.

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.