Versor Investments LP Sells 22,100 Shares of OFG Bancorp (NYSE:OFG)

Versor Investments LP cut its stake in shares of OFG Bancorp (NYSE:OFG) by 62.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,519 shares of the bank’s stock after selling 22,100 shares during the quarter. Versor Investments LP’s holdings in OFG Bancorp were worth $572,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of OFG. Ieq Capital LLC purchased a new stake in OFG Bancorp during the 4th quarter valued at $210,000. Principal Financial Group Inc. boosted its position in shares of OFG Bancorp by 2.6% during the fourth quarter. Principal Financial Group Inc. now owns 251,774 shares of the bank’s stock valued at $10,655,000 after buying an additional 6,392 shares during the last quarter. Rhumbline Advisers increased its holdings in OFG Bancorp by 1.3% in the 4th quarter. Rhumbline Advisers now owns 136,503 shares of the bank’s stock worth $5,777,000 after buying an additional 1,785 shares in the last quarter. Empowered Funds LLC purchased a new position in OFG Bancorp in the 4th quarter worth about $4,570,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in OFG Bancorp by 17.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,701 shares of the bank’s stock valued at $1,456,000 after acquiring an additional 5,041 shares during the period. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jose Rafael Fernandez sold 50,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $45.24, for a total transaction of $2,262,000.00. Following the transaction, the chief executive officer now directly owns 284,775 shares in the company, valued at approximately $12,883,221. This trade represents a 14.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.11% of the company’s stock.

OFG Bancorp Stock Up 0.8 %

Shares of NYSE:OFG opened at $42.42 on Friday. The company has a 50-day moving average price of $42.71 and a 200 day moving average price of $43.24. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. OFG Bancorp has a 12 month low of $33.19 and a 12 month high of $47.66. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 10.05 and a beta of 1.00.

OFG Bancorp (NYSE:OFG) last announced its earnings results on Wednesday, January 22nd. The bank reported $1.09 earnings per share for the quarter, beating the consensus estimate 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 in the prior year, the company earned $0.98 EPS. As a group, equities research analysts predict that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Increases Dividend

The business 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 $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.83%. This is a boost from OFG Bancorp’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 31st. OFG Bancorp’s payout ratio is 28.44%.

Wall Street Analysts Forecast Growth

A number of 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 note on Thursday, January 23rd. Wells Fargo & Company upped their price target 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.

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.