Sei Investments Co. Raises Stock Holdings in OFG Bancorp (NYSE:OFG)

Sei Investments Co. raised its stake in OFG Bancorp (NYSE:OFG) by 385.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,364 shares of the bank’s stock after purchasing an additional 24,109 shares during the period. Sei Investments Co. owned 0.06% of OFG Bancorp worth $1,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of OFG Bancorp by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 5,906,903 shares of the bank’s stock worth $217,433,000 after buying an additional 63,883 shares during the last quarter. American Century Companies Inc. grew its holdings in 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 purchasing an additional 136,813 shares during the last quarter. First Trust Advisors LP increased its position in shares of OFG Bancorp by 15.4% during the fourth quarter. First Trust Advisors LP now owns 752,740 shares of the bank’s stock worth $28,213,000 after purchasing an additional 100,661 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of OFG Bancorp by 58.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 611,132 shares of the bank’s stock valued at $22,905,000 after purchasing an additional 225,666 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of OFG Bancorp by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 511,543 shares of the bank’s stock worth $19,157,000 after purchasing an additional 2,757 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors.

Insider Activity at OFG Bancorp

In other OFG Bancorp news, Director Jorge Colon sold 33,081 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OFG. Piper Sandler started coverage on OFG Bancorp in a research report on Monday, August 26th. They set an “overweight” rating and a $49.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of OFG Bancorp from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Finally, Hovde Group raised their price target on shares of OFG Bancorp from $44.00 to $51.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd.

OFG Bancorp Trading Down 1.0 %

OFG Bancorp stock opened at $42.65 on Tuesday. OFG Bancorp has a 52 week low of $28.32 and a 52 week high of $47.57. The stock has a 50-day moving average price of $43.70 and a 200 day moving average price of $39.70. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 10.91 and a beta of 0.98.

OFG Bancorp (NYSE:OFG) last released its quarterly earnings data on Thursday, July 18th. The bank reported $1.08 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $176.09 million. During the same period in the prior year, the firm earned $0.93 EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts anticipate that OFG Bancorp will post 4.27 EPS for the current year.

OFG Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.34%. The ex-dividend date is Monday, September 30th. OFG Bancorp’s dividend payout ratio is currently 25.58%.

About OFG Bancorp

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.