Janus Henderson Group PLC Has $26.82 Million Stake in OFG Bancorp (NYSE:OFG)

Janus Henderson Group PLC lessened its holdings in shares of OFG Bancorp (NYSE:OFG - Free Report) by 31.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 597,164 shares of the bank's stock after selling 269,555 shares during the quarter. Janus Henderson Group PLC owned approximately 1.30% of OFG Bancorp worth $26,824,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in OFG. American Century Companies Inc. grew its position in OFG Bancorp by 16.5% during the second quarter. American Century Companies Inc. now owns 966,945 shares of the bank's stock valued at $36,212,000 after purchasing an additional 136,813 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of OFG Bancorp by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 511,543 shares of the bank's stock valued at $19,157,000 after acquiring an additional 2,757 shares in the last quarter. Panagora Asset Management Inc. increased its stake in shares of OFG Bancorp by 4.5% in the second quarter. Panagora Asset Management Inc. now owns 269,508 shares of the bank's stock worth $10,093,000 after acquiring an additional 11,603 shares during the last quarter. FMR LLC increased its stake in shares of OFG Bancorp by 8.1% in the third quarter. FMR LLC now owns 205,745 shares of the bank's stock worth $9,242,000 after acquiring an additional 15,498 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in OFG Bancorp by 2.1% in the second quarter. Victory Capital Management Inc. now owns 174,203 shares of the bank's stock valued at $6,524,000 after purchasing an additional 3,596 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company's stock.

Insider Activity

In related news, CEO Jose Rafael Fernandez sold 50,000 shares of OFG Bancorp stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $45.24, for a total transaction of $2,262,000.00. Following the sale, the chief executive officer now directly owns 284,775 shares of the company's stock, valued at $12,883,221. This trade represents a 14.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.11% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on OFG. 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 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 company an "overweight" rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods increased their target price on shares of OFG Bancorp from $49.00 to $53.00 and gave the stock an "outperform" rating in a research report on Wednesday.

OFG Bancorp Stock Performance

Shares of NYSE:OFG traded down $0.21 during trading on Friday, reaching $44.79. The stock had a trading volume of 135,538 shares, compared to its average volume of 252,382. The stock has a fifty day simple moving average of $43.18 and a two-hundred day simple moving average of $41.77. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.21. OFG Bancorp has a 52 week low of $33.19 and a 52 week high of $47.66. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 10.90 and a beta of 1.02.

OFG Bancorp (NYSE:OFG - Get Free Report) last announced its earnings results on Wednesday, October 16th. The bank reported $1.00 EPS 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 firm had revenue of $174.10 million during the quarter, compared to the consensus estimate of $178.25 million. During the same quarter last year, the business earned $0.95 EPS. The business's revenue was up 1.1% compared to the same quarter last year. As a group, analysts anticipate that OFG Bancorp will post 4.11 earnings per share for the current fiscal year.

OFG Bancorp declared that its Board of Directors has initiated a share repurchase plan on Monday, October 28th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the bank to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

OFG Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.23%. OFG Bancorp's dividend payout ratio (DPR) is presently 24.33%.

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.