denkapparat Operations GmbH Acquires New Holdings in OFG Bancorp $OFG

denkapparat Operations GmbH bought a new position in shares of OFG Bancorp (NYSE:OFG) in the second quarter, Holdings Channel reports. The firm bought 5,604 shares of the bank’s stock, valued at approximately $240,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OFG. Charles Schwab Investment Management Inc. lifted its stake in shares of OFG Bancorp by 2.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,688,184 shares of the bank’s stock worth $67,561,000 after buying an additional 35,960 shares during the last quarter. American Century Companies Inc. raised its holdings in OFG Bancorp by 8.8% in the 1st quarter. American Century Companies Inc. now owns 1,270,604 shares of the bank’s stock worth $50,850,000 after acquiring an additional 102,755 shares during the period. Nuveen LLC acquired a new position in OFG Bancorp during the 1st quarter worth $44,749,000. Millennium Management LLC lifted its position in OFG Bancorp by 73.1% during the 1st quarter. Millennium Management LLC now owns 534,039 shares of the bank’s stock worth $21,372,000 after acquiring an additional 225,472 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in OFG Bancorp by 10.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 491,909 shares of the bank’s stock valued at $19,686,000 after acquiring an additional 45,045 shares during the period. Institutional investors and hedge funds own 92.73% of the company’s stock.

Insider Activity

In other news, Director Jorge Colon sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $40.85, for a total value of $1,021,250.00. Following the sale, the director directly owned 27,543 shares in the company, valued at approximately $1,125,131.55. This represents a 47.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jose Rafael Fernandez sold 25,232 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 184,675 shares of the company’s stock, valued at approximately $7,562,441.25. The trade was a 12.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 55,000 shares of company stock valued at $2,247,747 in the last three months. Company insiders own 3.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OFG. Wells Fargo & Company dropped their price objective on OFG Bancorp from $48.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Monday, October 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OFG Bancorp in a research report on Wednesday, October 8th. Zacks Research upgraded OFG Bancorp to a “hold” rating in a report on Friday, October 10th. Keefe, Bruyette & Woods reduced their price objective on OFG Bancorp from $51.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. Finally, Wall Street Zen raised shares of OFG Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, July 20th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.17.

OFG Bancorp Stock Performance

Shares of NYSE OFG opened at $40.78 on Thursday. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 9.27 and a beta of 0.84. OFG Bancorp has a one year low of $33.15 and a one year high of $47.66. The business has a fifty day simple moving average of $42.16 and a 200 day simple moving average of $42.49. The company has a current ratio of 0.85, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings results on Wednesday, October 22nd. The bank reported $1.16 earnings per share (EPS) 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 firm had revenue of $184.00 million for the quarter, compared to analyst estimates of $186.71 million. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.00 EPS. Sell-side analysts expect that OFG Bancorp will post 4.18 EPS for the current year.

OFG Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, December 31st. OFG Bancorp’s dividend payout ratio is 27.27%.

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.