OFG Bancorp (NYSE:OFG) Shares Sold by Stieven Capital Advisors L.P.

Stieven Capital Advisors L.P. trimmed its position in shares of OFG Bancorp (NYSE:OFG - Free Report) by 17.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 192,636 shares of the bank's stock after selling 41,125 shares during the period. Stieven Capital Advisors L.P. owned about 0.42% of OFG Bancorp worth $8,152,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of OFG Bancorp by 48.9% during the fourth quarter. GAMMA Investing LLC now owns 801 shares of the bank's stock worth $34,000 after buying an additional 263 shares during the period. R Squared Ltd purchased a new position in OFG Bancorp in the fourth quarter valued at approximately $44,000. Blue Trust Inc. increased its stake in OFG Bancorp by 2,377.8% in the third quarter. Blue Trust Inc. now owns 1,115 shares of the bank's stock valued at $50,000 after purchasing an additional 1,070 shares during the last quarter. Farther Finance Advisors LLC increased its stake in OFG Bancorp by 4,014.6% in the third quarter. Farther Finance Advisors LLC now owns 1,975 shares of the bank's stock valued at $89,000 after purchasing an additional 1,927 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in OFG Bancorp by 736.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,385 shares of the bank's stock valued at $101,000 after purchasing an additional 2,100 shares during the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

OFG Bancorp Stock Performance

Shares of OFG traded down $0.32 during mid-day trading on Wednesday, reaching $41.73. 323,318 shares of the company's stock were exchanged, compared to its average volume of 345,806. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.85 and a quick ratio of 0.86. The stock has a market capitalization of $1.92 billion, a PE ratio of 9.89 and a beta of 1.00. The business's fifty day simple moving average is $42.87 and its 200-day simple moving average is $43.24. OFG Bancorp has a 52-week low of $33.19 and a 52-week high of $47.66.

OFG Bancorp (NYSE:OFG - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The bank reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm earned $0.98 EPS. On average, equities research analysts expect that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp announced that its Board of Directors has authorized a stock buyback program on Monday, October 28th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the bank to repurchase up to 2.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its shares are undervalued.

OFG Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from OFG Bancorp's previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.88%. OFG Bancorp's dividend payout ratio (DPR) is 23.70%.

Insider Transactions at OFG Bancorp

In related news, CEO Jose Rafael Fernandez sold 50,000 shares of the stock in a transaction on 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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.16% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods increased their price target on shares of OFG Bancorp from $53.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, January 23rd. Wells Fargo & Company increased their price target on shares of OFG Bancorp from $45.00 to $48.00 and gave the company an "overweight" rating in a research note on Thursday, January 23rd.

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.