Texas Permanent School Fund Lowers Stake in OFG Bancorp (NYSE:OFG)

Texas Permanent School Fund reduced its position in shares of OFG Bancorp (NYSE:OFGGet Rating) by 3.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,205 shares of the bank’s stock after selling 1,044 shares during the quarter. Texas Permanent School Fund’s holdings in OFG Bancorp were worth $860,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. boosted its stake in shares of OFG Bancorp by 0.3% during the 1st quarter. BlackRock Inc. now owns 7,235,843 shares of the bank’s stock worth $192,763,000 after acquiring an additional 21,245 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of OFG Bancorp by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,837,923 shares of the bank’s stock worth $102,243,000 after purchasing an additional 37,270 shares during the last quarter. State Street Corp raised its position in shares of OFG Bancorp by 6.9% during the 1st quarter. State Street Corp now owns 2,301,099 shares of the bank’s stock worth $61,646,000 after purchasing an additional 148,014 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of OFG Bancorp by 69.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 846,232 shares of the bank’s stock worth $21,495,000 after purchasing an additional 347,986 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of OFG Bancorp by 14.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 650,927 shares of the bank’s stock worth $16,534,000 after purchasing an additional 84,649 shares during the last quarter. 91.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at OFG Bancorp

In other OFG Bancorp news, Director Edwin Perez sold 10,000 shares of the stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $28.56, for a total value of $285,600.00. Following the completion of the sale, the director now owns 60,000 shares in the company, valued at approximately $1,713,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 20,000 shares of company stock worth $570,100. Insiders own 2.66% of the company’s stock.

OFG Bancorp Stock Up 0.4 %

OFG stock opened at $28.44 on Friday. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 9.09 and a beta of 1.15. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.03. OFG Bancorp has a 12 month low of $24.39 and a 12 month high of $30.93. The firm has a 50-day moving average of $27.71 and a two-hundred day moving average of $27.31.

OFG Bancorp (NYSE:OFGGet Rating) last released its quarterly earnings data on Thursday, October 20th. The bank reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $156.81 million during the quarter, compared to the consensus estimate of $154.80 million. OFG Bancorp had a net margin of 25.03% and a return on equity of 14.88%. As a group, analysts forecast that OFG Bancorp will post 3.41 earnings per share for the current fiscal year.

OFG Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $0.80 dividend on an annualized basis and a yield of 2.81%. OFG Bancorp’s payout ratio is 25.56%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of OFG Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 25th.

About OFG Bancorp

(Get Rating)

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, as well as time deposit products; commercial, consumer, auto, and mortgage lending services; financial planning and insurance services; and corporate and individual trust, and retirement services.

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Institutional Ownership by Quarter for OFG Bancorp (NYSE:OFG)

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