Diversified Trust Co Buys 1,330 Shares of OFG Bancorp (NYSE:OFG)

Diversified Trust Co boosted its stake in OFG Bancorp (NYSE:OFG) by 9.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,399 shares of the bank’s stock after purchasing an additional 1,330 shares during the period. Diversified Trust Co’s holdings in OFG Bancorp were worth $652,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of OFG. American Century Companies Inc. grew its holdings in shares of OFG Bancorp by 16.5% in the second quarter. American Century Companies Inc. now owns 966,945 shares of the bank’s stock worth $36,212,000 after acquiring an additional 136,813 shares during the period. Foundry Partners LLC bought a new stake in shares of OFG Bancorp during the 3rd quarter valued at about $6,038,000. Marshall Wace LLP purchased a new stake in shares of OFG Bancorp during the 2nd quarter valued at about $2,112,000. Intech Investment Management LLC lifted its stake in shares of OFG Bancorp by 411.3% in the 3rd quarter. Intech Investment Management LLC now owns 64,391 shares of the bank’s stock worth $2,892,000 after purchasing an additional 51,798 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of OFG Bancorp by 293.2% in the second quarter. Renaissance Technologies LLC now owns 63,700 shares of the bank’s stock worth $2,386,000 after buying an additional 47,500 shares during the last quarter. 92.73% of the stock is owned by institutional investors.

OFG Bancorp Stock Performance

Shares of NYSE OFG opened at $40.42 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.86 and a quick ratio of 0.86. OFG Bancorp has a 1 year low of $33.19 and a 1 year high of $47.66. The firm has a fifty day moving average price of $43.65 and a 200-day moving average price of $42.80. The stock has a market cap of $1.86 billion, a PE ratio of 9.83 and a beta of 1.02.

OFG Bancorp (NYSE:OFG) last posted its quarterly earnings results on Wednesday, October 16th. The bank reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.02). The business had revenue of $174.10 million for the quarter, compared to the consensus estimate of $178.25 million. OFG Bancorp had a net margin of 22.68% and a return on equity of 15.69%. OFG Bancorp’s revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.95 earnings per share. Equities analysts anticipate that OFG Bancorp will post 4.11 earnings per share for the current fiscal year.

OFG Bancorp declared that its board has authorized a stock repurchase plan on Monday, October 28th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the bank to buy up to 2.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

OFG Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.25 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 2.47%. OFG Bancorp’s payout ratio is 24.33%.

Insider Buying and Selling at OFG Bancorp

In other OFG Bancorp news, CEO Jose Rafael Fernandez sold 50,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $45.24, for a total transaction of $2,262,000.00. Following the completion of the transaction, the chief executive officer now owns 284,775 shares of the company’s stock, valued at $12,883,221. This represents a 14.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on OFG. Piper Sandler reduced their target price on shares of OFG Bancorp from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Wells Fargo & Company reduced their price objective on OFG Bancorp from $49.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods boosted their price target on OFG Bancorp from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th.

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.