OFG Bancorp (NYSE:OFG - Get Free Report) CEO Jose Rafael Fernandez sold 52,352 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $52.45, for a total value of $2,745,862.40. Following the completion of the sale, the chief executive officer owned 152,657 shares in the company, valued at approximately $8,006,859.65. The trade was a 25.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
OFG Bancorp Price Performance
Shares of NYSE OFG opened at $53.13 on Wednesday. The stock's 50-day moving average is $48.29 and its two-hundred day moving average is $44.03. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.86. OFG Bancorp has a 1-year low of $35.71 and a 1-year high of $53.30. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 10.46 and a beta of 0.70.
OFG Bancorp (NYSE:OFG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The bank reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.22. The company had revenue of $190.32 million for the quarter, compared to analyst estimates of $182.64 million. OFG Bancorp had a return on equity of 15.92% and a net margin of 24.08%.During the same quarter last year, the company earned $1.15 EPS. Analysts forecast that OFG Bancorp will post 5.05 EPS for the current fiscal year.
OFG Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.40 annualized dividend and a yield of 2.6%. OFG Bancorp's dividend payout ratio (DPR) is 27.56%.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on OFG shares. Benchmark began coverage on shares of OFG Bancorp in a research report on Tuesday, July 14th. They issued a "hold" rating on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of OFG Bancorp from $52.00 to $57.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 22nd. Zacks Research downgraded shares of OFG Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 30th. Truist Financial boosted their target price on shares of OFG Bancorp from $55.00 to $58.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company increased their target price on OFG Bancorp from $45.00 to $49.00 and gave the company an "equal weight" rating in a report on Monday, July 6th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $54.00.
Read Our Latest Analysis on OFG
Institutional Trading of OFG Bancorp
A number of institutional investors and hedge funds have recently bought and sold shares of OFG. Tudor Investment Corp ET AL boosted its holdings in OFG Bancorp by 23.7% in the third quarter. Tudor Investment Corp ET AL now owns 180,897 shares of the bank's stock valued at $7,867,000 after purchasing an additional 34,653 shares during the last quarter. Intech Investment Management LLC lifted its stake in OFG Bancorp by 109.0% in the fourth quarter. Intech Investment Management LLC now owns 148,046 shares of the bank's stock valued at $6,067,000 after acquiring an additional 77,223 shares during the last quarter. Jacobs Asset Management LLC boosted its holdings in OFG Bancorp by 13.5% in the first quarter. Jacobs Asset Management LLC now owns 90,000 shares of the bank's stock worth $3,641,000 after purchasing an additional 10,670 shares in the last quarter. Vest Financial LLC boosted its stake in shares of OFG Bancorp by 16.5% during the 4th quarter. Vest Financial LLC now owns 141,076 shares of the bank's stock worth $5,781,000 after acquiring an additional 20,020 shares in the last quarter. Finally, CenterBook Partners LP boosted its holdings in shares of OFG Bancorp by 83.2% during the 4th quarter. CenterBook Partners LP now owns 111,190 shares of the bank's stock worth $4,557,000 after buying an additional 50,508 shares during the period. Institutional investors and hedge funds own 92.73% of the company's stock.
OFG Bancorp Company Profile
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Get Free Report)
OFG Bancorp, through its principal subsidiary Oriental Bank, is a financial holding company headquartered in San Juan, Puerto Rico. The company provides a wide range of banking services, including commercial and consumer deposit accounts, small business loans, corporate lending, treasury management, and cash management solutions. Its consumer offerings encompass personal checking and savings accounts, credit cards, and electronic banking platforms designed to serve retail customers across its markets.
In addition to traditional banking products, OFG Bancorp offers mortgage origination and servicing, as well as wealth management and trust services for high‐net‐worth individuals and institutional clients.
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