X Square Capital LLC Sells 24,324 Shares of OFG Bancorp (NYSE:OFG)

X Square Capital LLC decreased its holdings in OFG Bancorp (NYSE:OFG - Free Report) by 14.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 142,733 shares of the bank's stock after selling 24,324 shares during the period. OFG Bancorp comprises approximately 2.8% of X Square Capital LLC's holdings, making the stock its 4th largest holding. X Square Capital LLC owned approximately 0.31% of OFG Bancorp worth $6,412,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Goldman Sachs Group Inc. boosted its holdings in shares of OFG Bancorp by 58.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 611,132 shares of the bank's stock valued at $22,905,000 after purchasing an additional 225,666 shares during the period. American Century Companies Inc. grew its position in shares of OFG Bancorp by 16.5% during the 2nd quarter. American Century Companies Inc. now owns 966,945 shares of the bank's stock worth $36,212,000 after buying an additional 136,813 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of OFG Bancorp by 1.1% during the first quarter. Vanguard Group Inc. now owns 5,906,903 shares of the bank's stock valued at $217,433,000 after buying an additional 63,883 shares during the period. Marshall Wace LLP bought a new stake in shares of OFG Bancorp in the second quarter valued at about $2,112,000. Finally, Renaissance Technologies LLC raised its holdings in shares of OFG Bancorp by 293.2% in the second quarter. Renaissance Technologies LLC now owns 63,700 shares of the bank's stock valued at $2,386,000 after acquiring an additional 47,500 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors.

OFG Bancorp Stock Up 0.7 %

NYSE OFG traded up $0.26 on Thursday, hitting $39.81. The stock had a trading volume of 317,915 shares, compared to its average volume of 233,405. OFG Bancorp has a 52-week low of $28.41 and a 52-week high of $47.57. The business's fifty day moving average price is $43.56 and its 200 day moving average price is $40.18. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 9.64 and a beta of 0.98.

OFG Bancorp (NYSE:OFG - Get Free Report) last released 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). 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 analysts' expectations of $178.25 million. During the same quarter last year, the business posted $0.95 earnings per share. The company's quarterly revenue was up 1.1% compared to the same quarter last year. Equities research analysts anticipate that OFG Bancorp will post 4.11 earnings per share for the current year.

OFG Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 2.51%. OFG Bancorp's payout ratio is currently 24.33%.

Insider Activity

In other OFG Bancorp news, Director Jorge Colon sold 33,081 shares of OFG Bancorp stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $45.73, for a total transaction of $1,512,794.13. Following the completion of the sale, the director now owns 70,919 shares of the company's stock, valued at approximately $3,243,125.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on OFG shares. Piper Sandler cut their target price 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, October 17th. Hovde Group increased their price objective on shares of OFG Bancorp from $44.00 to $51.00 and gave the company an "outperform" rating in a research note on Monday, July 22nd. Finally, 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 note on Monday, July 22nd.

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.