Trexquant Investment LP Decreases Stock Holdings in OFG Bancorp (NYSE:OFG)

Trexquant Investment LP trimmed its stake in OFG Bancorp (NYSE:OFG - Free Report) by 85.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,575 shares of the bank's stock after selling 93,631 shares during the period. Trexquant Investment LP's holdings in OFG Bancorp were worth $701,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp boosted its stake in OFG Bancorp by 0.9% during the third quarter. State Street Corp now owns 2,177,560 shares of the bank's stock worth $98,354,000 after buying an additional 19,372 shares during the period. Wellington Management Group LLP grew its holdings in OFG Bancorp by 2.6% during the 3rd quarter. Wellington Management Group LLP now owns 769,727 shares of the bank's stock valued at $34,576,000 after purchasing an additional 19,599 shares during the last quarter. Jane Street Group LLC raised its position in OFG Bancorp by 32.1% in the 3rd quarter. Jane Street Group LLC now owns 82,203 shares of the bank's stock worth $3,693,000 after purchasing an additional 19,963 shares during the period. XTX Topco Ltd lifted its stake in OFG Bancorp by 5.2% in 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 during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of OFG Bancorp during the third quarter valued at approximately $1,271,000. Hedge funds and other institutional investors own 92.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on OFG shares. Wells Fargo & Company cut OFG Bancorp from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $48.00 to $42.00 in a report on Wednesday, April 9th. Keefe, Bruyette & Woods lifted their price objective on shares of OFG Bancorp from $53.00 to $55.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd.

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OFG Bancorp Stock Up 0.9 %

Shares of OFG traded up $0.33 during midday trading on Tuesday, reaching $35.43. 229,086 shares of the stock were exchanged, compared to its average volume of 295,752. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The company's 50 day moving average is $40.14 and its two-hundred day moving average is $42.04. The company has a market capitalization of $1.61 billion, a P/E ratio of 8.40 and a beta of 0.74. OFG Bancorp has a 52 week low of $33.15 and a 52 week high of $47.66.

OFG Bancorp (NYSE:OFG - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The bank reported $1.09 EPS for the quarter, beating 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 in the prior year, the business posted $0.98 EPS. On average, sell-side analysts anticipate that OFG Bancorp will post 4.18 earnings per share 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 issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a yield of 3.39%. This is a positive change from OFG Bancorp's previous quarterly dividend of $0.25. OFG Bancorp's dividend payout ratio is currently 28.44%.

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.