Yousif Capital Management LLC Has $739,000 Stake in OFG Bancorp (NYSE:OFG)

Yousif Capital Management LLC trimmed its holdings in shares of OFG Bancorp (NYSE:OFG) by 3.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,456 shares of the bank’s stock after selling 547 shares during the period. Yousif Capital Management LLC’s holdings in OFG Bancorp were worth $739,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. EMC Capital Management increased its stake in shares of OFG Bancorp by 92.8% in the 4th quarter. EMC Capital Management now owns 18,214 shares of the bank’s stock valued at $771,000 after buying an additional 8,766 shares during the period. R Squared Ltd acquired a new stake in shares of OFG Bancorp in the 4th quarter valued at $44,000. KBC Group NV increased its stake in shares of OFG Bancorp by 39.7% in the 4th quarter. KBC Group NV now owns 2,620 shares of the bank’s stock valued at $111,000 after buying an additional 745 shares during the period. Blue Trust Inc. increased its stake in shares of OFG Bancorp by 84.8% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the bank’s stock valued at $93,000 after buying an additional 946 shares during the period. Finally, Mitsubishi UFJ Asset Management UK Ltd. increased its stake in shares of OFG Bancorp by 38.1% in the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 29,000 shares of the bank’s stock valued at $1,227,000 after buying an additional 8,000 shares during the period. 92.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity at OFG Bancorp

In related news, CEO Jose Rafael Fernandez sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $45.24, for a total value of $2,262,000.00. Following 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 SEC, which is available through the SEC website. 3.11% of the stock is owned by insiders.

OFG Bancorp Trading Down 3.7 %

Shares of NYSE:OFG opened at $41.74 on Friday. OFG Bancorp has a 12-month low of $33.19 and a 12-month high of $47.66. The stock has a market cap of $1.92 billion, a PE ratio of 9.89 and a beta of 1.00. The business has a 50 day moving average of $42.97 and a 200-day moving average of $43.28. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.26.

OFG Bancorp (NYSE:OFG) last released its earnings results on Wednesday, January 22nd. The bank reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.12. OFG Bancorp had a return on equity of 15.80% and a net margin of 22.71%. During the same quarter in the previous year, the firm earned $0.98 earnings per share. As a group, equities research analysts forecast that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp announced that its board has authorized a share buyback program on Monday, October 28th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the bank to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

OFG Bancorp Increases Dividend

The business also recently disclosed 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from OFG Bancorp’s previous quarterly dividend of $0.25. OFG Bancorp’s dividend payout ratio is 23.70%.

Analyst Ratings Changes

Several research firms have recently issued reports on OFG. Keefe, Bruyette & Woods raised their price target on OFG Bancorp from $53.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Wells Fargo & Company raised their price target on OFG Bancorp from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report 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.