Trexquant Investment LP Sells 93,631 Shares of OFG Bancorp (NYSE:OFG)

Trexquant Investment LP trimmed its position in shares of OFG Bancorp (NYSE:OFG) by 85.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,575 shares of the bank’s stock after selling 93,631 shares during the quarter. Trexquant Investment LP’s holdings in OFG Bancorp were worth $701,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of OFG. State Street Corp grew its position in OFG Bancorp by 0.9% during the 3rd 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. Wellington Management Group LLP grew its holdings in shares of OFG Bancorp by 2.6% during the third quarter. Wellington Management Group LLP now owns 769,727 shares of the bank’s stock worth $34,576,000 after purchasing an additional 19,599 shares during the last quarter. Jane Street Group LLC increased its stake in shares of OFG Bancorp by 32.1% in the third quarter. Jane Street Group LLC now owns 82,203 shares of the bank’s stock valued at $3,693,000 after buying an additional 19,963 shares in the last quarter. XTX Topco Ltd raised its holdings in shares of OFG Bancorp by 5.2% in the third quarter. XTX Topco Ltd now owns 8,387 shares of the bank’s stock valued at $377,000 after buying an additional 413 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in OFG Bancorp during the 3rd quarter worth about $1,271,000. Institutional investors and hedge funds own 92.73% of the company’s stock.

OFG Bancorp Stock Performance

Shares of NYSE:OFG opened at $34.89 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. OFG Bancorp has a 1-year low of $33.15 and a 1-year high of $47.66. The stock has a market capitalization of $1.59 billion, a P/E ratio of 8.27 and a beta of 0.74. The business has a 50-day moving average price of $40.30 and a two-hundred day moving average price of $42.12.

OFG Bancorp (NYSE:OFG) last posted its quarterly 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 net margin of 22.71% and a return on equity of 15.80%. During the same quarter in the prior year, the business earned $0.98 earnings per share. Equities analysts predict that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.44%. This is an increase from OFG Bancorp’s previous quarterly dividend of $0.25. OFG Bancorp’s dividend payout ratio is 28.44%.

Analyst Ratings Changes

Several research firms have weighed in on OFG. Keefe, Bruyette & Woods raised 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. Wells Fargo & Company lowered shares of OFG Bancorp from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $48.00 to $42.00 in a report on Wednesday.

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.