The Manufacturers Life Insurance Company purchased a new stake in OFG Bancorp (NYSE:OFG – Free Report) during the second quarter, HoldingsChannel.com reports. The fund purchased 17,218 shares of the bank’s stock, valued at approximately $845,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Allworth Financial LP bought a new position in shares of OFG Bancorp during the 2nd quarter valued at about $31,000. Quarry LP purchased a new position in shares of OFG Bancorp during the third quarter valued at about $35,000. EverSource Wealth Advisors LLC increased its holdings in shares of OFG Bancorp by 250.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,533 shares of the bank’s stock worth $66,000 after purchasing an additional 1,095 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of OFG Bancorp in the second quarter worth about $97,000. Finally, Quantbot Technologies LP purchased a new stake in shares of OFG Bancorp in the second quarter worth about $162,000. 92.73% of the stock is currently owned by institutional investors.
Insider Activity
In other news, CFO Maritza Arizmendi sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $53.35, for a total value of $533,500.00. Following the completion of the sale, the chief financial officer owned 56,684 shares in the company, valued at approximately $3,024,091.40. This trade represents a 15.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Néstor de Jesús sold 4,000 shares of OFG Bancorp stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $53.00, for a total transaction of $212,000.00. Following the transaction, the director directly owned 20,040 shares of the company’s stock, valued at approximately $1,062,120. This represents a 16.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 66,352 shares of company stock valued at $3,491,362. 1.23% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Check Out Our Latest Analysis on OFG
OFG Bancorp Stock Performance
NYSE OFG opened at $53.19 on Friday. The company has a market cap of $2.25 billion, a P/E ratio of 10.47 and a beta of 0.68. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.88. The business’s 50 day moving average price is $51.71 and its 200-day moving average price is $46.34. OFG Bancorp has a fifty-two week low of $35.71 and a fifty-two week high of $54.47.
OFG Bancorp (NYSE:OFG – Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The bank reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.22. The company had revenue of $190.28 million during the quarter, compared to the consensus estimate of $182.64 million. OFG Bancorp had a return on equity of 15.92% and a net margin of 24.08%.During the same period last year, the company earned $1.15 earnings per share. Sell-side analysts predict that OFG Bancorp will post 5.05 earnings per share for the current year.
OFG Bancorp Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.40 annualized dividend and a dividend yield of 2.6%. OFG Bancorp’s dividend payout ratio is currently 27.56%.
About OFG Bancorp
OFG Bancorp, through its principal subsidiary Oriental Bank, is a financial holding company headquartered in San Juan, Puerto Rico. The company provides a wide range of banking services, including commercial and consumer deposit accounts, small business loans, corporate lending, treasury management, and cash management solutions. Its consumer offerings encompass personal checking and savings accounts, credit cards, and electronic banking platforms designed to serve retail customers across its markets.
In addition to traditional banking products, OFG Bancorp offers mortgage origination and servicing, as well as wealth management and trust services for high‐net‐worth individuals and institutional clients.
Featured Stories
- Five stocks we like better than OFG Bancorp
- Zscaler’s Strong Quarter Still Left Investors Waiting on 1 Key Signal
- Is Duolingo the Next Netflix-Style Comeback Story?
- GitLab’s AI Tools Are Starting to Turn Developer Demand Into Real Revenue
- GTA VI’s Console Problem Isn’t Take-Two’s Problem
Want to see what other hedge funds are holding OFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OFG Bancorp (NYSE:OFG – Free Report).
Receive News & Ratings for OFG Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OFG Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.
