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

Comerica Bank reduced its stake in OFG Bancorp (NYSE:OFGGet 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

(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.

Further Reading

Want to see what other hedge funds are holding OFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OFG Bancorp (NYSE:OFGGet Rating).

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

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