OFG Bancorp (NYSE:OFG) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its stake in shares of OFG Bancorp (NYSE:OFG) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,061 shares of the bank’s stock after selling 300 shares during the quarter. New York State Teachers Retirement System owned about 0.06% of OFG Bancorp worth $1,014,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of OFG Bancorp by 139.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,207,708 shares of the bank’s stock valued at $30,120,000 after acquiring an additional 703,543 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of OFG Bancorp by 236.5% in the 1st quarter. First Trust Advisors LP now owns 529,418 shares of the bank’s stock valued at $13,204,000 after acquiring an additional 372,086 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of OFG Bancorp by 54.4% in the 4th quarter. Millennium Management LLC now owns 868,246 shares of the bank’s stock valued at $23,929,000 after acquiring an additional 306,065 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of OFG Bancorp by 4.1% in the 1st quarter. BlackRock Inc. now owns 7,044,536 shares of the bank’s stock valued at $175,691,000 after acquiring an additional 279,724 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of OFG Bancorp by 1,956.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 178,726 shares of the bank’s stock valued at $38,000 after acquiring an additional 170,034 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

OFG Bancorp Stock Performance

Shares of NYSE OFG opened at $33.44 on Friday. The company’s fifty day moving average price is $35.79 and its 200 day moving average price is $34.65. OFG Bancorp has a 1 year low of $22.34 and a 1 year high of $39.04. The company has a market capitalization of $1.58 billion, a PE ratio of 8.75 and a beta of 1.09. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.83 and a current ratio of 0.84.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings results on Wednesday, January 24th. The bank reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. OFG Bancorp had a net margin of 23.62% and a return on equity of 16.25%. The firm had revenue of $208.26 million for the quarter, compared to the consensus estimate of $172.50 million. During the same period in the prior year, the firm posted $0.97 earnings per share. On average, research analysts predict that OFG Bancorp will post 3.75 earnings per share for the current year.

OFG Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 27th. This is an increase from OFG Bancorp’s previous quarterly dividend of $0.22. This represents a $1.00 dividend on an annualized basis and a yield of 2.99%. OFG Bancorp’s dividend payout ratio is 26.18%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company dropped their price objective on shares of OFG Bancorp from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th.

Insider Buying and Selling

In related news, insider Ganesh Kumar sold 9,697 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $36.40, for a total transaction of $352,970.80. Following the sale, the insider now directly owns 134,805 shares of the company’s stock, valued at $4,906,902. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 34,536 shares of company stock valued at $1,238,317. Corporate insiders own 3.11% of the company’s stock.

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.