Squarepoint Ops LLC Has $1.26 Million Stake in OFG Bancorp (NYSE:OFG)

Squarepoint Ops LLC lowered its stake in shares of OFG Bancorp (NYSE:OFG) by 4.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,510 shares of the bank’s stock after selling 1,655 shares during the quarter. Squarepoint Ops LLC owned about 0.07% of OFG Bancorp worth $1,255,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of OFG Bancorp by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 5,906,903 shares of the bank’s stock worth $217,433,000 after acquiring an additional 63,883 shares during the period. American Century Companies Inc. raised its position in OFG Bancorp by 16.5% during the second quarter. American Century Companies Inc. now owns 966,945 shares of the bank’s stock valued at $36,212,000 after purchasing an additional 136,813 shares in the last quarter. First Trust Advisors LP lifted its stake in OFG Bancorp by 15.4% during the fourth quarter. First Trust Advisors LP now owns 752,740 shares of the bank’s stock worth $28,213,000 after purchasing an additional 100,661 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings 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 in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of OFG Bancorp by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 511,543 shares of the bank’s stock valued at $19,157,000 after purchasing an additional 2,757 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

OFG Bancorp Trading Up 1.6 %

Shares of OFG Bancorp stock opened at $43.06 on Friday. The stock has a 50 day moving average price of $43.76 and a two-hundred day moving average price of $39.59. OFG Bancorp has a 52 week low of $28.32 and a 52 week high of $47.57. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $2.02 billion, a PE ratio of 11.01 and a beta of 0.98.

OFG Bancorp (NYSE:OFG) last issued its quarterly earnings data on Thursday, July 18th. The bank reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.12. OFG Bancorp had a return on equity of 16.25% and a net margin of 22.95%. The business had revenue of $179.40 million for the quarter, compared to analysts’ expectations of $176.09 million. During the same period last year, the business earned $0.93 EPS. The business’s revenue was up 5.2% on a year-over-year basis. As a group, equities analysts anticipate that OFG Bancorp will post 4.27 earnings per share for the current fiscal year.

OFG Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Monday, September 30th. OFG Bancorp’s dividend payout ratio (DPR) is currently 25.58%.

Insider Activity at OFG Bancorp

In other OFG Bancorp news, Director Jorge Colon sold 33,081 shares of OFG Bancorp stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $45.73, for a total transaction of $1,512,794.13. Following the completion of the transaction, the director now owns 70,919 shares of the company’s stock, valued at $3,243,125.87. The trade was a 0.00 % decrease in their position. 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.

Analysts Set New Price Targets

A number of research analysts have recently commented on OFG shares. Hovde Group raised their price objective on OFG Bancorp from $44.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Wells Fargo & Company upped their target price on OFG Bancorp from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Finally, Piper Sandler assumed coverage on shares of OFG Bancorp in a research report on Monday, August 26th. They issued an “overweight” rating and a $49.00 price target on the stock.

OFG Bancorp Company 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.