Stieven Capital Advisors L.P. Sells 41,125 Shares of OFG Bancorp (NYSE:OFG)

Stieven Capital Advisors L.P. lessened its holdings in OFG Bancorp (NYSE:OFG) by 17.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 192,636 shares of the bank’s stock after selling 41,125 shares during the period. Stieven Capital Advisors L.P. owned approximately 0.42% of OFG Bancorp worth $8,152,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of OFG. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of OFG Bancorp in the 3rd quarter worth $984,000. Foundry Partners LLC purchased a new position in OFG Bancorp in the third quarter worth about $6,038,000. State Street Corp increased its stake in OFG Bancorp by 0.9% during the third quarter. State Street Corp now owns 2,177,560 shares of the bank’s stock worth $98,354,000 after acquiring an additional 19,372 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in OFG Bancorp during the third quarter valued at approximately $759,000. Finally, KBC Group NV lifted its stake in shares of OFG Bancorp by 39.7% in the 4th quarter. KBC Group NV now owns 2,620 shares of the bank’s stock valued at $111,000 after purchasing an additional 745 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

OFG Bancorp Trading Down 3.7 %

Shares of NYSE OFG opened at $41.74 on Friday. OFG Bancorp has a fifty-two week low of $33.19 and a fifty-two week high of $47.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.85. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 9.89 and a beta of 1.00. The business’s 50 day moving average price is $42.97 and its 200-day moving average price is $43.28.

OFG Bancorp (NYSE:OFG) last released its earnings results on Wednesday, January 22nd. The bank reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.12. OFG Bancorp had a return on equity of 15.80% and a net margin of 22.71%. During the same period last year, the business earned $0.98 EPS. On average, sell-side analysts expect that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.30 per share. This is a positive change from OFG Bancorp’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.87%. OFG Bancorp’s dividend payout ratio (DPR) is presently 23.70%.

OFG Bancorp declared that its Board of Directors has approved a stock repurchase plan on Monday, October 28th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the bank to reacquire up to 2.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

OFG has been the topic of several analyst reports. Wells Fargo & Company boosted their target price on OFG Bancorp from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of OFG Bancorp from $53.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd.

Insider Buying and Selling at OFG Bancorp

In other OFG Bancorp news, CEO Jose Rafael Fernandez sold 50,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $45.24, for a total transaction of $2,262,000.00. Following the transaction, the chief executive officer now directly owns 284,775 shares in the company, valued at $12,883,221. This trade represents a 14.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.11% of the stock is owned by corporate insiders.

About OFG Bancorp

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.