OFG Bancorp (NYSE:OFG – Get Free Report) CFO Maritza Arizmendi sold 10,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $53.35, for a total transaction of $533,500.00. Following the transaction, the chief financial officer owned 56,684 shares in the company, valued at $3,024,091.40. The trade was a 15.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
OFG Bancorp Stock Down 0.1%
Shares of NYSE OFG opened at $53.88 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $2.28 billion, a P/E ratio of 10.61 and a beta of 0.69. OFG Bancorp has a 1 year low of $35.71 and a 1 year high of $53.98. The firm has a 50-day simple moving average of $50.23 and a two-hundred day simple moving average of $45.15.
OFG Bancorp (NYSE:OFG – Get Free Report) last announced its earnings results on Tuesday, July 21st. The bank reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.22. OFG Bancorp had a return on equity of 15.92% and a net margin of 24.08%.The business had revenue of $190.28 million during the quarter, compared to analyst estimates of $182.64 million. During the same quarter in the previous year, the business earned $1.15 earnings per share. Research analysts anticipate that OFG Bancorp will post 5.05 earnings per share for the current year.
OFG Bancorp Announces Dividend
Hedge Funds Weigh In On OFG Bancorp
Several institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in OFG Bancorp by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,565,784 shares of the bank’s stock worth $103,811,000 after buying an additional 27,774 shares in the last quarter. Intech Investment Management LLC lifted its holdings in OFG Bancorp by 109.0% during the fourth quarter. Intech Investment Management LLC now owns 148,046 shares of the bank’s stock worth $6,067,000 after buying an additional 77,223 shares during the period. Jacobs Asset Management LLC boosted its position in OFG Bancorp by 13.5% during the 1st quarter. Jacobs Asset Management LLC now owns 90,000 shares of the bank’s stock valued at $3,641,000 after acquiring an additional 10,670 shares in the last quarter. Empowered Funds LLC boosted its position in OFG Bancorp by 19.9% during the 1st quarter. Empowered Funds LLC now owns 212,358 shares of the bank’s stock valued at $8,592,000 after acquiring an additional 35,269 shares in the last quarter. Finally, Vest Financial LLC increased its holdings in shares of OFG Bancorp by 16.5% in the 4th quarter. Vest Financial LLC now owns 141,076 shares of the bank’s stock valued at $5,781,000 after acquiring an additional 20,020 shares during the period. Hedge funds and other institutional investors own 92.73% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on OFG shares. Zacks Research upgraded OFG Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. Piper Sandler set a $56.00 price target on shares of OFG Bancorp in a report on Wednesday, July 22nd. Wells Fargo & Company raised their price target on shares of OFG Bancorp from $49.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Keefe, Bruyette & Woods lifted their price objective on shares of OFG Bancorp from $52.00 to $57.00 and gave the company a “market perform” rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of OFG Bancorp in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $55.20.
Check Out Our Latest Research Report on OFG
OFG Bancorp Company Profile
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.
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