Cesar Ortiz Sells 5,500 Shares of OFG Bancorp (NYSE:OFG) Stock

OFG Bancorp (NYSE:OFG) insider Cesar Ortiz sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $42.17, for a total transaction of $231,935.00. Following the completion of the transaction, the insider owned 351 shares in the company, valued at approximately $14,801.67. This represents a 94.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

OFG Bancorp Trading Up 0.3%

OFG stock traded up $0.14 during mid-day trading on Monday, reaching $42.34. 303,206 shares of the stock traded hands, compared to its average volume of 301,688. The stock has a market capitalization of $1.86 billion, a PE ratio of 9.62 and a beta of 0.78. OFG Bancorp has a one year low of $33.15 and a one year high of $46.11. The business has a 50-day moving average price of $40.56 and a two-hundred day moving average price of $42.32. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.85 and a current ratio of 0.85.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings data on Wednesday, October 22nd. The bank reported $1.16 EPS for the quarter, meeting the consensus estimate of $1.16. OFG Bancorp had a net margin of 22.26% and a return on equity of 15.18%. The firm had revenue of $186.18 million during the quarter, compared to analyst estimates of $186.71 million. During the same period last year, the firm posted $1.00 EPS. OFG Bancorp’s revenue was up 5.7% on a year-over-year basis. Equities research analysts expect that OFG Bancorp will post 4.18 EPS for the current year.

OFG Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a $0.30 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. OFG Bancorp’s payout ratio is 27.27%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on OFG Bancorp from $48.00 to $43.00 and set an “equal weight” rating for the company in a report on Monday, October 27th. UBS Group set a $50.00 target price on OFG Bancorp in a report on Thursday, October 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of OFG Bancorp in a research report on Monday, December 1st. Keefe, Bruyette & Woods reduced their price target on shares of OFG Bancorp from $51.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. Finally, Truist Financial dropped their price target on shares of OFG Bancorp from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $47.17.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new stake in shares of OFG Bancorp in the 3rd quarter valued at approximately $35,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of OFG Bancorp during the third quarter valued at about $53,000. EverSource Wealth Advisors LLC raised its position in OFG Bancorp by 250.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,533 shares of the bank’s stock worth $66,000 after purchasing an additional 1,095 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of OFG Bancorp during the second quarter worth about $97,000. Finally, Quantbot Technologies LP bought a new position in shares of OFG Bancorp during the second quarter worth approximately $162,000. Institutional investors and hedge funds own 92.73% of the company’s stock.

About OFG Bancorp

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.