Cwm LLC Has $200,000 Holdings in OFG Bancorp (NYSE:OFG)

Cwm LLC increased its holdings in shares of OFG Bancorp (NYSE:OFG) by 138.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,448 shares of the bank’s stock after acquiring an additional 2,580 shares during the period. Cwm LLC’s holdings in OFG Bancorp were worth $200,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its stake in shares of OFG Bancorp by 58.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 611,132 shares of the bank’s stock worth $22,905,000 after acquiring an additional 225,666 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of OFG Bancorp by 16.5% in 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. Vanguard Group Inc. raised its position in OFG Bancorp by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 5,906,903 shares of the bank’s stock worth $217,433,000 after purchasing an additional 63,883 shares during the last quarter. Marshall Wace LLP acquired a new position in OFG Bancorp during the 2nd quarter worth $2,112,000. Finally, X Square Capital LLC boosted its position in OFG Bancorp by 46.7% in the 2nd quarter. X Square Capital LLC now owns 167,057 shares of the bank’s stock valued at $6,256,000 after buying an additional 53,190 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Piper Sandler cut their target price on shares of OFG Bancorp from $49.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Hovde Group lifted their target price on shares of OFG Bancorp from $44.00 to $51.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Finally, Wells Fargo & Company increased their price target on OFG Bancorp from $40.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd.

OFG Bancorp Price Performance

Shares of NYSE OFG opened at $40.10 on Wednesday. The company has a fifty day moving average price of $43.65 and a 200 day moving average price of $40.15. The firm has a market cap of $1.87 billion, a PE ratio of 9.76 and a beta of 0.98. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. OFG Bancorp has a 1-year low of $28.41 and a 1-year high of $47.57.

OFG Bancorp (NYSE:OFG) last posted its quarterly earnings data on Wednesday, October 16th. The bank reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.02). OFG Bancorp had a net margin of 22.68% and a return on equity of 15.69%. The business had revenue of $174.10 million during the quarter, compared to analyst estimates of $178.25 million. During the same quarter last year, the business earned $0.95 earnings per share. OFG Bancorp’s revenue for the quarter was up 1.1% on a year-over-year basis. Research analysts predict that OFG Bancorp will post 4.11 earnings per share for the current fiscal year.

OFG Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 2.49%. OFG Bancorp’s dividend payout ratio is presently 24.33%.

Insider Buying and Selling

In related news, Director Jorge Colon sold 33,081 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $45.73, for a total value of $1,512,794.13. Following the completion of the sale, the director now directly owns 70,919 shares in the company, valued at approximately $3,243,125.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.11% of the stock is owned by corporate 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.