OFG Bancorp (NYSE:OFG) Shares Acquired by EMC Capital Management

EMC Capital Management lifted its stake in shares of OFG Bancorp (NYSE:OFGFree Report) by 48.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,638 shares of the bank’s stock after buying an additional 4,438 shares during the quarter. EMC Capital Management’s holdings in OFG Bancorp were worth $407,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. National Bank of Canada FI lifted its position in shares of OFG Bancorp by 2.0% during the 2nd quarter. National Bank of Canada FI now owns 16,276 shares of the bank’s stock worth $424,000 after buying an additional 326 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of OFG Bancorp by 0.6% in the 3rd quarter. Royal Bank of Canada now owns 73,403 shares of the bank’s stock valued at $1,845,000 after acquiring an additional 402 shares during the period. Natixis Advisors L.P. increased its holdings in shares of OFG Bancorp by 1.7% in the 1st quarter. Natixis Advisors L.P. now owns 27,562 shares of the bank’s stock valued at $734,000 after acquiring an additional 465 shares during the period. Swiss National Bank increased its holdings in shares of OFG Bancorp by 0.6% in the 3rd quarter. Swiss National Bank now owns 104,400 shares of the bank’s stock valued at $3,117,000 after acquiring an additional 600 shares during the period. Finally, Captrust Financial Advisors increased its holdings in shares of OFG Bancorp by 7.0% in the 3rd quarter. Captrust Financial Advisors now owns 9,531 shares of the bank’s stock valued at $240,000 after acquiring an additional 625 shares during the period. Hedge funds and other institutional investors own 91.61% of the company’s stock.

Insider Transactions at OFG Bancorp

In other news, insider Ganesh Kumar sold 5,689 shares of the company’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $38.00, for a total transaction of $216,182.00. Following the transaction, the insider now directly owns 125,010 shares of the company’s stock, valued at approximately $4,750,380. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Ganesh Kumar sold 5,689 shares of the company’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $38.00, for a total transaction of $216,182.00. Following the transaction, the insider now directly owns 125,010 shares of the company’s stock, valued at approximately $4,750,380. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jesus Nestor De sold 3,000 shares of the company’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $36.94, for a total transaction of $110,820.00. Following the transaction, the director now directly owns 17,890 shares in the company, valued at $660,856.60. The disclosure for this sale can be found here. Insiders have sold a total of 10,992 shares of company stock valued at $409,588 in the last ninety days. 3.11% of the stock is currently owned by company insiders.

OFG Bancorp Stock Performance

OFG traded up $0.35 during trading on Monday, hitting $36.65. The stock had a trading volume of 13,327 shares, compared to its average volume of 231,664. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.88 and a current ratio of 0.86. The firm has a market capitalization of $1.72 billion, a P/E ratio of 9.50 and a beta of 1.11. The company’s 50-day moving average price is $36.52 and its 200 day moving average price is $33.01. OFG Bancorp has a twelve month low of $22.34 and a twelve month high of $39.04.

OFG Bancorp (NYSE:OFGGet Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The bank reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.05. The company had revenue of $208.26 million for the quarter, compared to analysts’ expectations of $172.50 million. OFG Bancorp had a net margin of 23.62% and a return on equity of 16.25%. During the same period in the previous year, the company posted $0.97 EPS. On average, equities research analysts forecast that OFG Bancorp will post 3.73 EPS for the current fiscal year.

OFG Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, March 27th. This is a boost from OFG Bancorp’s previous quarterly dividend of $0.22. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.73%. OFG Bancorp’s dividend payout ratio is 23.04%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company lifted their target price on shares of OFG Bancorp from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, January 29th.

Check Out Our Latest Stock Report on OFG Bancorp

OFG Bancorp Company Profile

(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, as well as time deposit products; commercial, consumer, auto leasing, and mortgage lending services; financial planning and insurance services; and corporate and individual trust, and retirement services.

Further Reading

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

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