AQR Capital Management LLC Sells 11,653 Shares of OFG Bancorp (NYSE:OFG)

by · The Cerbat Gem

AQR Capital Management LLC lowered its stake in shares of OFG Bancorp (NYSE:OFG – Free Report) by 7.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 148,503 shares of the bank’s stock after selling 11,653 shares during the quarter. AQR Capital Management LLC’s holdings in OFG Bancorp were worth $6,285,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in OFG Bancorp by 48.9% in the fourth quarter. GAMMA Investing LLC now owns 801 shares of the bank’s stock worth $34,000 after purchasing an additional 263 shares during the last quarter. R Squared Ltd purchased a new stake in OFG Bancorp in the fourth quarter worth about $44,000. Smartleaf Asset Management LLC raised its stake in OFG Bancorp by 196.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank’s stock worth $44,000 after acquiring an additional 680 shares during the period. Meeder Asset Management Inc. bought a new position in shares of OFG Bancorp in the fourth quarter worth approximately $44,000. Finally, Blue Trust Inc. increased its stake in shares of OFG Bancorp by 84.8% in the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the bank’s stock worth $93,000 after purchasing an additional 946 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors.

OFG Bancorp Stock Performance

Shares of NYSE:OFG opened at $40.80 on Thursday. The firm has a fifty day simple moving average of $38.71 and a two-hundred day simple moving average of $41.51. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $1.85 billion, a P/E ratio of 9.67 and a beta of 0.73. OFG Bancorp has a 52 week low of $33.15 and a 52 week high of $47.66.

OFG Bancorp (NYSE:OFG – Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.02). OFG Bancorp had a net margin of 22.71% and a return on equity of 15.80%. The company had revenue of $178.30 million for the quarter, compared to analysts’ expectations of $175.35 million. During the same quarter last year, the company earned $1.05 earnings per share. On average, analysts expect that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.20 annualized dividend and a dividend yield of 2.94%. OFG Bancorp’s dividend payout ratio (DPR) is presently 28.78%.

Insider Transactions at OFG Bancorp

In other news, CFO Maritza Arizmendi sold 5,000 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $41.44, for a total transaction of $207,200.00. Following the transaction, the chief financial officer now owns 63,470 shares of the company’s stock, valued at approximately $2,630,196.80. This represents a 7.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Hovde Group cut their price target on OFG Bancorp from $53.50 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Piper Sandler cut their price objective on shares of OFG Bancorp from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Wells Fargo & Company cut shares of OFG Bancorp from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $48.00 to $42.00 in a research report on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of OFG Bancorp from $53.00 to $48.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th.

Check Out Our Latest Report on OFG

OFG Bancorp Profile

(Free Report)

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.

See Also

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