OFG Bancorp (NYSE:OFG) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its position in OFG Bancorp (NYSE:OFG - Free Report) by 22.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,996 shares of the bank's stock after selling 47,453 shares during the quarter. Franklin Resources Inc. owned approximately 0.36% of OFG Bancorp worth $7,025,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. FMR LLC boosted its stake in shares of OFG Bancorp by 8.1% in the 3rd quarter. FMR LLC now owns 205,745 shares of the bank's stock valued at $9,242,000 after buying an additional 15,498 shares during the period. State Street Corp grew its holdings in OFG Bancorp by 0.9% during the 3rd quarter. State Street Corp now owns 2,177,560 shares of the bank's stock worth $98,354,000 after acquiring an additional 19,372 shares in the last quarter. Wellington Management Group LLP increased its holdings in OFG Bancorp by 2.6% in the third 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. Jane Street Group LLC increased its holdings in shares of OFG Bancorp by 32.1% in the 3rd quarter. Jane Street Group LLC now owns 82,203 shares of the bank's stock valued at $3,693,000 after acquiring an additional 19,963 shares during the last quarter. Finally, XTX Topco Ltd raised its holdings in OFG Bancorp by 5.2% during the third quarter. XTX Topco Ltd now owns 8,387 shares of the bank's stock worth $377,000 after purchasing an additional 413 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company's stock.

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OFG Bancorp Price Performance

Shares of OFG Bancorp stock traded up $0.59 during trading on Tuesday, reaching $35.69. The company's stock had a trading volume of 18,069 shares, compared to its average volume of 294,926. The business has a 50 day moving average price of $40.14 and a 200-day moving average price of $42.04. OFG Bancorp has a 12-month low of $33.15 and a 12-month high of $47.66. The company has a market capitalization of $1.62 billion, a P/E ratio of 8.46 and a beta of 0.74. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.26.

OFG Bancorp (NYSE:OFG - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The bank reported $1.09 EPS for the quarter, topping the consensus estimate of $0.97 by $0.12. OFG Bancorp had a net margin of 22.71% and a return on equity of 15.80%. During the same quarter last year, the company posted $0.98 EPS. As a group, sell-side analysts anticipate that OFG Bancorp will post 4.18 EPS for the current year.

OFG Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.30 per share. This is a positive change from OFG Bancorp's previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 3.36%. The ex-dividend date is Monday, March 31st. OFG Bancorp's dividend payout ratio is presently 28.44%.

Analyst Upgrades and Downgrades

OFG has been the subject of several research analyst reports. Wells Fargo & Company downgraded OFG Bancorp from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $48.00 to $42.00 in a report on Wednesday, April 9th. Keefe, Bruyette & Woods upped their price objective on shares of OFG Bancorp from $53.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd.

OFG Bancorp Company 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.