Comerica Bank Sells 5,035 Shares of OFG Bancorp (NYSE:OFG)

Comerica Bank reduced its stake in OFG Bancorp (NYSE:OFG – Get Rating) by 12.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,393 shares of the bank’s stock after selling 5,035 shares during the quarter. Comerica Bank owned about 0.08% of OFG Bancorp worth $1,001,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of OFG. JPMorgan Chase & Co. increased its stake in shares of OFG Bancorp by 69.8% during the second 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 period. Lazard Asset Management LLC increased its position in OFG Bancorp by 14,458.9% during the 2nd quarter. Lazard Asset Management LLC now owns 208,192 shares of the bank’s stock worth $5,288,000 after buying an additional 206,762 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of OFG Bancorp during the second quarter worth $4,290,000. State Street Corp boosted its position in shares of OFG Bancorp by 6.9% in the first quarter. State Street Corp now owns 2,301,099 shares of the bank’s stock valued at $61,646,000 after acquiring an additional 148,014 shares during the period. Finally, Cubist Systematic Strategies LLC grew its stake in shares of OFG Bancorp by 218.7% in the second quarter. Cubist Systematic Strategies LLC now owns 196,327 shares of the bank’s stock valued at $4,987,000 after acquiring an additional 134,734 shares in the last quarter. 91.03% of the stock is currently owned by institutional investors and hedge funds.

OFG Bancorp Trading Down 0.6 %

Shares of NYSE:OFG opened at $27.33 on Wednesday. The business’s 50 day simple moving average is $27.62 and its 200 day simple moving average is $27.42. OFG Bancorp has a 1 year low of $24.39 and a 1 year high of $29.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $1.30 billion, a P/E ratio of 8.73 and a beta of 1.15.

OFG Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Investors of record on Friday, December 30th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date was Thursday, December 29th. OFG Bancorp’s payout ratio is currently 25.56%.

Insider Activity at OFG Bancorp

In other OFG Bancorp news, Director Edwin Perez sold 5,000 shares of the stock in a transaction dated Friday, December 2nd. The shares were sold at an average price of $28.40, for a total transaction of $142,000.00. Following the sale, the director now directly owns 50,000 shares in the company, valued at $1,420,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 20,000 shares of company stock valued at $570,100 over the last quarter. 2.66% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

About OFG Bancorp

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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.