Yousif Capital Management LLC Trims Stock Position in OFG Bancorp (NYSE:OFG)

Yousif Capital Management LLC decreased its position in shares of OFG Bancorp (NYSE:OFG) by 3.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,933 shares of the bank’s stock after selling 523 shares during the quarter. Yousif Capital Management LLC’s holdings in OFG Bancorp were worth $678,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its holdings in shares of OFG Bancorp by 196.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank’s stock valued at $44,000 after purchasing an additional 680 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in OFG Bancorp during the fourth quarter worth approximately $44,000. Vestcor Inc purchased a new stake in OFG Bancorp in the fourth quarter valued at approximately $107,000. Point72 Asset Management L.P. purchased a new stake in OFG Bancorp in the fourth quarter valued at approximately $172,000. Finally, Ieq Capital LLC acquired a new stake in shares of OFG Bancorp in the fourth quarter valued at approximately $210,000. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Hovde Group cut their target price on shares of OFG Bancorp from $53.50 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Piper Sandler dropped their price objective on shares of OFG Bancorp from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Wall Street Zen raised shares of OFG Bancorp from a “sell” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company downgraded shares of OFG Bancorp from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $48.00 to $42.00 in a research note on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods lowered their price target on OFG Bancorp from $53.00 to $48.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, OFG Bancorp has an average rating of “Moderate Buy” and an average target price of $45.50.

OFG Bancorp Price Performance

OFG Bancorp stock opened at $40.92 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.85 and a quick ratio of 0.84. The business has a 50 day simple moving average of $40.33 and a 200-day simple moving average of $41.17. OFG Bancorp has a 12 month low of $33.15 and a 12 month high of $47.66. The stock has a market capitalization of $1.84 billion, a PE ratio of 9.81 and a beta of 0.75.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.02). OFG Bancorp had a net margin of 22.10% and a return on equity of 15.23%. The firm had revenue of $178.30 million during the quarter, compared to analyst estimates of $175.35 million. During the same period in the prior year, the firm posted $1.05 earnings per share. Equities analysts predict that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.93%. OFG Bancorp’s dividend payout ratio (DPR) is 28.78%.

Insider Buying and Selling

In related news, CFO Maritza Arizmendi sold 5,000 shares of OFG Bancorp stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $41.44, for a total value of $207,200.00. Following the sale, the chief financial officer now directly owns 63,470 shares in the company, valued at $2,630,196.80. The trade was a 7.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.11% of the stock is currently owned by corporate insiders.

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.