OFG Bancorp $OFG Shares Purchased by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL increased its stake in shares of OFG Bancorp (NYSE:OFG) by 23.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 180,897 shares of the bank’s stock after buying an additional 34,653 shares during the period. Tudor Investment Corp ET AL owned about 0.41% of OFG Bancorp worth $7,867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Penn Capital Management Company LLC lifted its position in shares of OFG Bancorp by 1.6% during the 3rd quarter. Penn Capital Management Company LLC now owns 18,870 shares of the bank’s stock valued at $821,000 after acquiring an additional 303 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its stake in shares of OFG Bancorp by 4.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 10,219 shares of the bank’s stock worth $437,000 after acquiring an additional 396 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in shares of OFG Bancorp by 1.5% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 32,987 shares of the bank’s stock worth $1,435,000 after acquiring an additional 500 shares during the period. California State Teachers Retirement System grew its holdings 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 during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in OFG Bancorp by 5.0% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,531 shares of the bank’s stock valued at $494,000 after purchasing an additional 547 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OFG has been the subject of several research reports. Truist Financial reduced their price objective on OFG Bancorp from $48.00 to $44.00 and set a “buy” rating for the company in a report on Monday, January 26th. Piper Sandler began coverage on OFG Bancorp in a research report on Thursday, January 15th. They issued a “neutral” rating and a $45.00 price target for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of OFG Bancorp in a research note on Monday, December 29th. Zacks Research upgraded shares of OFG Bancorp from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 14th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $43.00 price objective (down from $50.00) on shares of OFG Bancorp in a research note on Friday, January 23rd. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, OFG Bancorp presently has a consensus rating of “Hold” and an average target price of $45.83.

Insider Activity

In related news, Director Annette Franqui bought 1,540 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was purchased at an average cost of $42.06 per share, for a total transaction of $64,772.40. Following the completion of the acquisition, the director owned 3,440 shares in the company, valued at $144,686.40. This trade represents a 81.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.23% of the company’s stock.

OFG Bancorp Stock Performance

OFG Bancorp stock opened at $39.55 on Tuesday. The firm has a market capitalization of $1.68 billion, a P/E ratio of 8.64 and a beta of 0.74. The stock has a fifty day moving average price of $40.46 and a 200 day moving average price of $41.19. OFG Bancorp has a 52 week low of $33.15 and a 52 week high of $46.11. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33.

OFG Bancorp (NYSE:OFG) last released its earnings results on Thursday, January 22nd. The bank reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.11. The firm had revenue of $185.37 million for the quarter, compared to the consensus estimate of $184.17 million. OFG Bancorp had a return on equity of 15.21% and a net margin of 22.72%.The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.09 earnings per share. Equities research analysts anticipate that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $0.35 dividend. This is a boost from OFG Bancorp’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, March 31st. OFG Bancorp’s dividend payout ratio is 30.57%.

OFG Bancorp declared that its board has authorized a share buyback program on Wednesday, January 28th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the bank to buy up to 12% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

OFG Bancorp 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.