Allspring Global Investments Holdings LLC decreased its holdings in OFG Bancorp (NYSE:OFG - Free Report) by 34.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 186,131 shares of the bank's stock after selling 98,861 shares during the period. Allspring Global Investments Holdings LLC owned about 0.40% of OFG Bancorp worth $8,361,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Capstone Investment Advisors LLC purchased a new stake in shares of OFG Bancorp in the first quarter valued at approximately $844,000. Janney Montgomery Scott LLC bought a new position in shares of OFG Bancorp during the 1st quarter worth $649,000. BNP Paribas Financial Markets grew its position in shares of OFG Bancorp by 172.3% during the 1st quarter. BNP Paribas Financial Markets now owns 36,467 shares of the bank's stock worth $1,342,000 after buying an additional 23,075 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of OFG Bancorp by 6.1% during the first quarter. Russell Investments Group Ltd. now owns 242,526 shares of the bank's stock valued at $8,927,000 after buying an additional 13,869 shares during the period. Finally, Raffles Associates LP lifted its stake in OFG Bancorp by 9.3% in the second quarter. Raffles Associates LP now owns 141,067 shares of the bank's stock worth $5,283,000 after acquiring an additional 12,000 shares during the period. 92.73% of the stock is currently owned by institutional investors.
OFG Bancorp Stock Down 2.1 %
NYSE OFG traded down $0.84 on Friday, hitting $38.97. The stock had a trading volume of 309,523 shares, compared to its average volume of 233,774. The business's fifty day moving average price is $43.42 and its 200 day moving average price is $40.26. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 9.97 and a beta of 0.98. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.86 and a quick ratio of 0.86. OFG Bancorp has a 52-week low of $28.65 and a 52-week high of $47.57.
OFG Bancorp (NYSE:OFG - Get Free Report) last announced its earnings results on Wednesday, October 16th. The bank reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.02). OFG Bancorp had a return on equity of 15.69% and a net margin of 22.68%. The business had revenue of $174.10 million for the quarter, compared to analysts' expectations of $178.25 million. During the same quarter last year, the firm earned $0.95 earnings per share. The firm'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. Investors of record on Monday, September 30th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Monday, September 30th. OFG Bancorp's payout ratio is currently 25.58%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the stock. Hovde Group boosted their price target on shares of OFG Bancorp from $44.00 to $51.00 and gave the company an "outperform" rating in a report on Monday, July 22nd. Wells Fargo & Company lifted their price target on OFG Bancorp from $40.00 to $48.00 and gave the company an "overweight" rating in a report on Monday, July 22nd. Finally, Piper Sandler dropped their price objective on OFG Bancorp from $49.00 to $47.00 and set an "overweight" rating on the stock in a research report on Thursday, October 17th.
Check Out Our Latest Report on OFG Bancorp
Insider Activity at OFG Bancorp
In other OFG Bancorp news, Director Jorge Colon sold 33,081 shares of the company's stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $45.73, for a total transaction of $1,512,794.13. Following the transaction, the director now owns 70,919 shares in the company, valued at approximately $3,243,125.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.11% of the stock is currently owned by insiders.
About OFG Bancorp
(
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, 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.
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