New York State Common Retirement Fund Sells 9,700 Shares of OFG Bancorp (NYSE:OFG)

New York State Common Retirement Fund decreased its holdings in OFG Bancorp (NYSE:OFG) by 37.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,289 shares of the bank’s stock after selling 9,700 shares during the period. New York State Common Retirement Fund’s holdings in OFG Bancorp were worth $689,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of OFG. GAMMA Investing LLC grew its holdings in shares of OFG Bancorp by 48.9% during the fourth quarter. GAMMA Investing LLC now owns 801 shares of the bank’s stock valued at $34,000 after buying an additional 263 shares during the last quarter. XTX Topco Ltd grew its holdings in shares of OFG Bancorp by 5.2% during the third quarter. XTX Topco Ltd now owns 8,387 shares of the bank’s stock valued at $377,000 after buying an additional 413 shares during the last quarter. Martingale Asset Management L P grew its holdings in shares of OFG Bancorp by 0.5% during the third quarter. Martingale Asset Management L P now owns 87,215 shares of the bank’s stock valued at $3,918,000 after buying an additional 460 shares during the last quarter. KBC Group NV grew its holdings in shares of OFG Bancorp by 39.7% during the fourth 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 last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of OFG Bancorp by 56.7% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,559 shares of the bank’s stock valued at $115,000 after buying an additional 926 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

OFG Bancorp Price Performance

OFG Bancorp stock opened at $42.10 on Tuesday. The firm has a market cap of $1.93 billion, a PE ratio of 9.98 and a beta of 1.00. OFG Bancorp has a 52-week low of $33.19 and a 52-week high of $47.66. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $42.70 and its two-hundred day moving average is $43.25.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.09 earnings per share 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 period last year, the business posted $0.98 EPS. On average, research analysts expect that OFG Bancorp will post 4.18 EPS for the current fiscal year.

OFG Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.30 per share. This is an increase from OFG Bancorp’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.85%. The ex-dividend date is Monday, March 31st. OFG Bancorp’s dividend payout ratio (DPR) is presently 28.44%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods boosted their target price on shares of OFG Bancorp from $53.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Wells Fargo & Company boosted their target price on shares of OFG Bancorp from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd.

Insiders Place Their Bets

In related news, CEO Jose Rafael Fernandez sold 50,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 284,775 shares in the company, 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 Securities & Exchange Commission, which is available at this link. 3.11% of the stock is currently owned by insiders.

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.