Mraz Amerine & Associates Inc. Sells 510 Shares of OFG Bancorp (NYSE:OFG)

Mraz Amerine & Associates Inc. decreased its holdings in OFG Bancorp (NYSE:OFG) by 3.1% in the 4th quarter, HoldingsChannel reports. The firm owned 15,890 shares of the bank’s stock after selling 510 shares during the quarter. Mraz Amerine & Associates Inc.’s holdings in OFG Bancorp were worth $672,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of OFG Bancorp by 48.9% in the fourth quarter. GAMMA Investing LLC now owns 801 shares of the bank’s stock valued at $34,000 after buying an additional 263 shares during the last quarter. R Squared Ltd acquired a new stake in OFG Bancorp in the 4th quarter valued at about $44,000. Blue Trust Inc. raised its stake in shares of OFG Bancorp by 2,377.8% in the third quarter. Blue Trust Inc. now owns 1,115 shares of the bank’s stock worth $50,000 after acquiring an additional 1,070 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of OFG Bancorp by 4,014.6% during the third quarter. Farther Finance Advisors LLC now owns 1,975 shares of the bank’s stock valued at $89,000 after purchasing an additional 1,927 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of OFG Bancorp by 736.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,385 shares of the bank’s stock valued at $101,000 after purchasing an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Insider Activity at OFG Bancorp

In other news, CEO Jose Rafael Fernandez sold 50,000 shares of OFG Bancorp stock in a transaction on 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 transaction, the chief executive officer now directly owns 284,775 shares of the company’s stock, valued at $12,883,221. This trade represents a 14.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.11% of the company’s stock.

Analyst Upgrades and Downgrades

OFG has been the topic of several research reports. Wells Fargo & Company upped their price objective on OFG Bancorp from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Keefe, Bruyette & Woods raised their price target on OFG Bancorp from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd.

OFG Bancorp Price Performance

OFG opened at $41.74 on Tuesday. The company has a fifty day moving average price of $42.91 and a two-hundred day moving average price of $43.25. The firm has a market capitalization of $1.92 billion, a PE ratio of 9.89 and a beta of 1.00. OFG Bancorp has a 52 week low of $33.19 and a 52 week high of $47.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.85.

OFG Bancorp (NYSE:OFG) last released its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.12. OFG Bancorp had a return on equity of 15.80% and a net margin of 22.71%. During the same period in the prior year, the firm earned $0.98 earnings per share. As a group, analysts anticipate that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp declared that its board has initiated a share repurchase plan on Monday, October 28th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the bank to purchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

OFG Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.30 per share. This is a positive change from OFG Bancorp’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. This represents a $1.20 annualized dividend and a yield of 2.87%. OFG Bancorp’s dividend payout ratio (DPR) is presently 23.70%.

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.