Janus Henderson Group PLC Has $28.80 Million Position in OFG Bancorp $OFG

Janus Henderson Group PLC lowered its stake in shares of OFG Bancorp (NYSE:OFG) by 1.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 711,933 shares of the bank’s stock after selling 12,839 shares during the quarter. Janus Henderson Group PLC owned about 1.68% of OFG Bancorp worth $28,805,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in shares of 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 during the last quarter. First Trust Advisors LP grew its stake in OFG Bancorp by 13.8% in the 1st quarter. First Trust Advisors LP now owns 2,321,924 shares of the bank’s stock valued at $93,945,000 after buying an additional 281,593 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in OFG Bancorp by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,706,896 shares of the bank’s stock valued at $69,949,000 after buying an additional 13,121 shares during the last quarter. Millennium Management LLC raised its holdings in OFG Bancorp by 7.8% in the 3rd quarter. Millennium Management LLC now owns 796,892 shares of the bank’s stock worth $34,657,000 after acquiring an additional 57,572 shares during the period. Finally, Qube Research & Technologies Ltd raised its holdings in OFG Bancorp by 31.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 554,208 shares of the bank’s stock worth $23,720,000 after acquiring an additional 133,046 shares during the period. Institutional investors and hedge funds own 92.73% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on OFG. Keefe, Bruyette & Woods upped their price target 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. Benchmark assumed coverage on OFG Bancorp in a research note on Tuesday, July 14th. They issued a “hold” rating on the stock. Wells Fargo & Company boosted their price objective on OFG Bancorp from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Truist Financial increased their target price on OFG Bancorp from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of OFG Bancorp in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

OFG Bancorp Price Performance

NYSE:OFG opened at $52.92 on Monday. The stock has a market cap of $2.24 billion, a P/E ratio of 10.42 and a beta of 0.69. OFG Bancorp has a one year low of $35.71 and a one year high of $53.30. The company has a fifty day moving average price of $48.72 and a 200 day moving average price of $44.26. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.86.

OFG Bancorp (NYSE:OFG) last posted its quarterly earnings results on Tuesday, July 21st. The bank reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.22. OFG Bancorp had a net margin of 24.08% and a return on equity of 15.92%. The company had revenue of $190.32 million for the quarter, compared to analyst estimates of $182.64 million. During the same period last year, the business posted $1.15 EPS. Analysts anticipate that OFG Bancorp will post 5.05 earnings per share for the current year.

OFG Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.40 dividend on an annualized basis and a yield of 2.6%. OFG Bancorp’s dividend payout ratio (DPR) is 27.56%.

Insiders Place Their Bets

In related news, CEO Jose Rafael Fernandez sold 52,352 shares of the business’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $52.45, for a total transaction of $2,745,862.40. Following the transaction, the chief executive officer directly owned 152,657 shares in the company, valued at $8,006,859.65. The trade was a 25.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.23% of the stock is currently owned by company insiders.

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.