OFG Bancorp (NYSE:OFG) Shares Purchased by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC increased its holdings in shares of OFG Bancorp (NYSE:OFG – Get Rating) by 193.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,592 shares of the bank’s stock after acquiring an additional 4,349 shares during the quarter. Tower Research Capital LLC TRC’s holdings in OFG Bancorp were worth $166,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its holdings in OFG Bancorp by 0.5% in the 1st quarter. JPMorgan Chase & Co. now owns 498,246 shares of the bank’s stock valued at $13,272,000 after purchasing an additional 2,368 shares during the last quarter. Citigroup Inc. boosted its holdings in OFG Bancorp by 13.6% in the 1st quarter. Citigroup Inc. now owns 44,861 shares of the bank’s stock valued at $1,195,000 after purchasing an additional 5,356 shares during the last quarter. Natixis Advisors L.P. boosted its holdings in OFG Bancorp by 1.7% in the 1st quarter. Natixis Advisors L.P. now owns 27,562 shares of the bank’s stock valued at $734,000 after purchasing an additional 465 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in OFG Bancorp by 56.6% in the 1st quarter. MetLife Investment Management LLC now owns 28,010 shares of the bank’s stock valued at $746,000 after purchasing an additional 10,126 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of OFG Bancorp by 13.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 42,791 shares of the bank’s stock worth $1,140,000 after acquiring an additional 5,117 shares during the last quarter. 91.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

OFG Bancorp Stock Performance

Shares of OFG stock opened at $28.64 on Thursday. OFG Bancorp has a one year low of $24.39 and a one year high of $30.52. The firm’s 50 day moving average price is $28.63 and its 200-day moving average price is $27.76. The firm has a market cap of $1.36 billion, a P/E ratio of 8.33 and a beta of 1.07. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.84 and a current ratio of 0.85.

OFG Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 31st will be paid a dividend of $0.22 per share. This is an increase from OFG Bancorp’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 3.07%. The ex-dividend date is Thursday, March 30th. OFG Bancorp’s dividend payout ratio is presently 23.26%.

Insider Buying and Selling

In other OFG Bancorp news, CEO Jose Rafael Fernandez sold 6,749 shares of the stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $29.65, for a total value of $200,107.85. Following the sale, the chief executive officer now directly owns 38,403 shares of the company’s stock, valued at approximately $1,138,648.95. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, COO Ganesh Kumar sold 6,468 shares of the stock in a transaction on Monday, February 27th. The shares were sold at an average price of $30.00, for a total transaction of $194,040.00. Following the completion of the sale, the chief operating officer now owns 167,567 shares in the company, valued at approximately $5,027,010. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jose Rafael Fernandez sold 6,749 shares of the stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $29.65, for a total transaction of $200,107.85. Following the sale, the chief executive officer now owns 38,403 shares of the company’s stock, valued at approximately $1,138,648.95. The disclosure for this sale can be found here. Insiders have sold a total of 92,338 shares of company stock valued at $2,756,146 in the last ninety days. Company insiders own 2.66% of the company’s stock.

OFG Bancorp Profile

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OFG Bancorp is a holding company, which engages in the provision of banking and financial services. It operates through the following segments: Banking, Wealth Management, and Treasury. The Banking segment includes its branches and traditional banking products such as deposits and commercial, consumer, and mortgage loans.