Inspire Investing LLC lessened its position in OFG Bancorp (NYSE:OFG – Free Report) by 11.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,920 shares of the bank’s stock after selling 2,343 shares during the quarter. Inspire Investing LLC’s holdings in OFG Bancorp were worth $850,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings in shares of OFG Bancorp by 58.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 611,132 shares of the bank’s stock valued at $22,905,000 after buying an additional 225,666 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of OFG Bancorp by 3.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 308,562 shares of the bank’s stock valued at $11,358,000 after acquiring an additional 10,186 shares during the period. Principal Financial Group Inc. increased its stake in shares of OFG Bancorp by 7.8% during the 1st quarter. Principal Financial Group Inc. now owns 264,289 shares of the bank’s stock worth $9,728,000 after purchasing an additional 19,144 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of OFG Bancorp by 35.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,505 shares of the bank’s stock valued at $1,381,000 after purchasing an additional 9,860 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of OFG Bancorp by 172.3% in the 1st quarter. BNP Paribas Financial Markets now owns 36,467 shares of the bank’s stock valued at $1,342,000 after purchasing an additional 23,075 shares during the period. Institutional investors own 92.73% of the company’s stock.
Insider Activity
In other OFG Bancorp news, Director Jorge Colon sold 33,081 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $45.73, for a total transaction of $1,512,794.13. Following the transaction, the director now owns 70,919 shares in the company, valued at approximately $3,243,125.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.11% of the company’s stock.
OFG Bancorp Trading Up 0.6 %
OFG Bancorp (NYSE:OFG – Get Free Report) last released its earnings results on Thursday, July 18th. The bank reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.12. OFG Bancorp had a net margin of 22.95% and a return on equity of 16.25%. The business had revenue of $179.40 million during the quarter, compared to the consensus estimate of $176.09 million. During the same quarter in the prior year, the firm posted $0.93 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities analysts forecast that OFG Bancorp will post 4.27 EPS for the current year.
OFG Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 2.25%. OFG Bancorp’s dividend payout ratio is 25.58%.
Analysts Set New Price Targets
A number of research firms have recently issued reports on OFG. Wells Fargo & Company raised their target price on shares of OFG Bancorp from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Hovde Group boosted their price objective on OFG Bancorp from $44.00 to $51.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Finally, Piper Sandler assumed coverage on OFG Bancorp in a research note on Monday, August 26th. They set an “overweight” rating and a $49.00 target price on the stock.
Check Out Our Latest Report on OFG Bancorp
OFG Bancorp Company Profile
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.
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