Jane Street Group LLC Buys 19,963 Shares of OFG Bancorp (NYSE:OFG)

Jane Street Group LLC raised its stake in OFG Bancorp (NYSE:OFG - Free Report) by 32.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,203 shares of the bank's stock after purchasing an additional 19,963 shares during the period. Jane Street Group LLC owned 0.18% of OFG Bancorp worth $3,693,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of OFG. Wellington Management Group LLP grew its stake in OFG Bancorp by 2.6% in the 3rd quarter. Wellington Management Group LLP now owns 769,727 shares of the bank's stock valued at $34,576,000 after buying an additional 19,599 shares during the last quarter. State Street Corp grew its position in shares of OFG Bancorp by 0.9% in the third quarter. State Street Corp now owns 2,177,560 shares of the bank's stock valued at $98,354,000 after purchasing an additional 19,372 shares during the last quarter. Centiva Capital LP increased its stake in shares of OFG Bancorp by 12.9% during the third quarter. Centiva Capital LP now owns 14,592 shares of the bank's stock worth $655,000 after purchasing an additional 1,665 shares during the period. Paloma Partners Management Co acquired a new stake in OFG Bancorp during the 3rd quarter worth approximately $234,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in OFG Bancorp by 56.7% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,559 shares of the bank's stock valued at $115,000 after purchasing an additional 926 shares during the period. 92.73% of the stock is owned by institutional investors.

Insider Transactions at OFG Bancorp

In other OFG Bancorp news, CEO Jose Rafael Fernandez sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The shares were 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 in the company, valued at approximately $12,883,221. This represents a 14.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.16% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on OFG shares. Piper Sandler dropped their target price on OFG Bancorp from $49.00 to $47.00 and set an "overweight" rating for the company in a report on Thursday, October 17th. Wells Fargo & Company lifted their price objective on shares of OFG Bancorp from $48.00 to $49.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods raised their target price on shares of OFG Bancorp from $49.00 to $53.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th.

OFG Bancorp Price Performance

OFG Bancorp stock traded up $0.81 during trading hours on Friday, reaching $41.81. 1,842,576 shares of the stock were exchanged, compared to its average volume of 249,206. The stock has a 50 day moving average of $43.26 and a two-hundred day moving average of $42.17. The company has a market cap of $1.92 billion, a P/E ratio of 10.17 and a beta of 1.02. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. OFG Bancorp has a twelve month low of $33.19 and a twelve month high of $47.66.

OFG Bancorp (NYSE:OFG - Get Free Report) last issued its earnings results on Wednesday, October 16th. The bank reported $1.00 earnings per share for the quarter, missing analysts' consensus estimates of $1.02 by ($0.02). OFG Bancorp had a net margin of 22.68% and a return on equity of 15.69%. The business had revenue of $174.10 million during the quarter, compared to analyst estimates of $178.25 million. During the same period in the prior year, the business posted $0.95 EPS. The company's revenue for the quarter was up 1.1% compared to the same quarter last year. Equities analysts expect that OFG Bancorp will post 4.11 EPS for the current fiscal year.

OFG Bancorp announced that its board has initiated a share buyback program on Monday, October 28th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the bank to purchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

OFG Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Tuesday, December 31st. OFG Bancorp's payout ratio is 24.33%.

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.