OFG Bancorp (NYSE:OFG) CEO Jose Rafael Fernandez Sells 25,232 Shares

OFG Bancorp (NYSE:OFG) CEO Jose Rafael Fernandez sold 25,232 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $40.95, for a total value of $1,033,250.40. Following the sale, the chief executive officer owned 184,675 shares of the company’s stock, valued at $7,562,441.25. The trade was a 12.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Jose Rafael Fernandez also recently made the following trade(s):

• On Tuesday, November 11th, Jose Rafael Fernandez sold 4,768 shares of OFG Bancorp stock. The shares were sold at an average price of $40.53, for a total transaction of $193,247.04.

OFG Bancorp Trading Up 0.8%

OFG stock traded up $0.33 during midday trading on Wednesday, reaching $40.78. 307,989 shares of the company’s stock traded hands, compared to its average volume of 307,117. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.85 and a quick ratio of 0.87. OFG Bancorp has a fifty-two week low of $33.15 and a fifty-two week high of $47.66. The business has a 50-day moving average price of $42.23 and a two-hundred day moving average price of $42.51. The company has a market capitalization of $1.82 billion, a P/E ratio of 9.27 and a beta of 0.84.

OFG Bancorp (NYSE:OFG) last posted its earnings results on Wednesday, October 22nd. The bank reported $1.16 earnings per share for the quarter, meeting the consensus estimate of $1.16. OFG Bancorp had a net margin of 22.26% and a return on equity of 15.18%. The business had revenue of $184.00 million for the quarter, compared to analyst estimates of $186.71 million. During the same quarter in the previous year, the business posted $1.00 EPS. The business’s quarterly revenue was up 5.7% on a year-over-year basis. Equities research analysts forecast that OFG Bancorp will post 4.18 EPS for the current fiscal year.

OFG Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Wednesday, December 31st. OFG Bancorp’s payout ratio is currently 27.27%.

Institutional Investors Weigh In On OFG Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. SummerHaven Investment Management LLC lifted its position in shares of OFG Bancorp by 1.9% during the second quarter. SummerHaven Investment Management LLC now owns 20,898 shares of the bank’s stock worth $894,000 after purchasing an additional 391 shares during the last quarter. Wedge Capital Management L L P NC increased its holdings in OFG Bancorp by 1.5% in the second quarter. Wedge Capital Management L L P NC now owns 26,409 shares of the bank’s stock valued at $1,130,000 after buying an additional 394 shares during the last quarter. Police & Firemen s Retirement System of New Jersey raised its stake in OFG Bancorp by 4.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,219 shares of the bank’s stock valued at $437,000 after buying an additional 396 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in OFG Bancorp by 1.5% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 32,987 shares of the bank’s stock worth $1,435,000 after buying an additional 500 shares during the last quarter. Finally, California State Teachers Retirement System grew its position in shares of OFG Bancorp by 1.2% in the 2nd quarter. California State Teachers Retirement System now owns 42,955 shares of the bank’s stock worth $1,838,000 after acquiring an additional 506 shares in the last quarter. Institutional investors own 92.73% of the company’s stock.

Analysts Set New Price Targets

OFG has been the subject of a number of recent research reports. Truist Financial lowered their target price on OFG Bancorp from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Wall Street Zen upgraded OFG Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, July 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of OFG Bancorp in a research note on Wednesday, October 8th. Zacks Research raised shares of OFG Bancorp to a “hold” rating in a research report on Friday, October 10th. Finally, UBS Group set a $50.00 price target on shares of OFG Bancorp in a report on Thursday, October 9th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.17.

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.