Burney Co. Sells 118,540 Shares of OFG Bancorp $OFG

Burney Co. trimmed its holdings in shares of OFG Bancorp (NYSE:OFG) by 82.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 25,748 shares of the bank’s stock after selling 118,540 shares during the quarter. Burney Co.’s holdings in OFG Bancorp were worth $1,042,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Royal Bank of Canada boosted its position in OFG Bancorp by 8.8% during the first quarter. Royal Bank of Canada now owns 30,489 shares of the bank’s stock valued at $1,221,000 after purchasing an additional 2,456 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in OFG Bancorp by 2.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,719 shares of the bank’s stock worth $1,069,000 after purchasing an additional 552 shares in the last quarter. Quantbot Technologies LP bought a new position in OFG Bancorp in the second quarter worth about $162,000. Arrowstreet Capital Limited Partnership lifted its position in shares of OFG Bancorp by 63.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 81,787 shares of the bank’s stock valued at $3,500,000 after buying an additional 31,816 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of OFG Bancorp by 250.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,533 shares of the bank’s stock valued at $66,000 after buying an additional 1,095 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

OFG Bancorp Price Performance

Shares of NYSE OFG opened at $48.91 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market cap of $2.07 billion, a PE ratio of 10.10 and a beta of 0.70. The business has a 50-day simple moving average of $46.59 and a two-hundred day simple moving average of $43.09. OFG Bancorp has a fifty-two week low of $35.71 and a fifty-two week high of $50.66.

OFG Bancorp (NYSE:OFG) last posted its quarterly earnings data on Tuesday, March 31st. The bank reported $1.26 earnings per share (EPS) for the quarter. The firm had revenue of $185.80 million for the quarter. OFG Bancorp had a net margin of 23.45% and a return on equity of 15.62%. As a group, equities analysts expect that OFG Bancorp will post 4.75 EPS for the current fiscal year.

OFG Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.40 dividend on an annualized basis and a yield of 2.9%. OFG Bancorp’s dividend payout ratio is presently 28.93%.

Wall Street Analyst Weigh In

OFG has been the topic of a number of analyst reports. Truist Financial lifted their price objective on shares of OFG Bancorp from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Zacks Research cut shares of OFG Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Wells Fargo & Company raised their target price on shares of OFG Bancorp from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $48.00 price target (up from $43.00) on shares of OFG Bancorp in a report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $48.00.

OFG Bancorp Profile

OFG Bancorp, through its principal subsidiary Oriental Bank, is a financial holding company headquartered in San Juan, Puerto Rico. The company provides a wide range of banking services, including commercial and consumer deposit accounts, small business loans, corporate lending, treasury management, and cash management solutions. Its consumer offerings encompass personal checking and savings accounts, credit cards, and electronic banking platforms designed to serve retail customers across its markets.

In addition to traditional banking products, OFG Bancorp offers mortgage origination and servicing, as well as wealth management and trust services for high‐net‐worth individuals and institutional clients.