Wellington Management Group LLP Has $28.96 Million Stock Holdings in OFG Bancorp (NYSE:OFG)

Wellington Management Group LLP decreased its position in shares of OFG Bancorp (NYSE:OFG) by 3.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 772,706 shares of the bank’s stock after selling 30,535 shares during the quarter. Wellington Management Group LLP owned approximately 1.64% of OFG Bancorp worth $28,961,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its stake in shares of OFG Bancorp by 58.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 611,132 shares of the bank’s stock valued at $22,905,000 after purchasing an additional 225,666 shares during the period. First Trust Advisors LP lifted its stake in shares of OFG Bancorp by 15.4% in the 4th quarter. First Trust Advisors LP now owns 752,740 shares of the bank’s stock valued at $28,213,000 after purchasing an additional 100,661 shares during the period. Rafferty Asset Management LLC lifted its stake in shares of OFG Bancorp by 44.0% in the 4th quarter. Rafferty Asset Management LLC now owns 43,357 shares of the bank’s stock valued at $1,625,000 after purchasing an additional 13,244 shares during the period. TD Asset Management Inc lifted its stake in shares of OFG Bancorp by 1.9% in the 4th quarter. TD Asset Management Inc now owns 55,000 shares of the bank’s stock valued at $2,061,000 after purchasing an additional 1,000 shares during the period. Finally, Panagora Asset Management Inc. lifted its stake in shares of OFG Bancorp by 38.2% in the 4th quarter. Panagora Asset Management Inc. now owns 194,528 shares of the bank’s stock valued at $7,291,000 after purchasing an additional 53,719 shares during the period. Institutional investors and hedge funds own 92.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company cut their price target on OFG Bancorp from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th.

OFG Bancorp Price Performance

OFG opened at $37.23 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. OFG Bancorp has a 12 month low of $25.25 and a 12 month high of $39.04. The company has a fifty day simple moving average of $36.63 and a 200 day simple moving average of $36.41. The stock has a market cap of $1.75 billion, a P/E ratio of 9.52 and a beta of 1.07.

OFG Bancorp (NYSE:OFG) last released its earnings results on Thursday, April 18th. The bank reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.10. The firm had revenue of $213.49 million during the quarter, compared to analysts’ expectations of $175.20 million. OFG Bancorp had a return on equity of 16.10% and a net margin of 23.00%. During the same quarter in the prior year, the company earned $0.96 EPS. On average, research analysts expect that OFG Bancorp will post 4.02 EPS for the current year.

OFG Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Friday, June 28th. OFG Bancorp’s dividend payout ratio (DPR) is presently 25.58%.

Insiders Place Their Bets

In other OFG Bancorp news, insider Ganesh Kumar sold 20,074 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $38.00, for a total transaction of $762,812.00. Following the completion of the transaction, the insider now owns 91,335 shares in the company, valued at approximately $3,470,730. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 42,537 shares of company stock worth $1,582,982. Corporate insiders own 3.11% of the company’s stock.

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.