Bank of New York Mellon Corp cut its position in OFG Bancorp (NYSE:OFG) by 0.1% during the third quarter, Holdings Channel reports. The fund owned 468,938 shares of the company’s stock after selling 671 shares during the period. Bank of New York Mellon Corp owned approximately 1.07% of OFG Bancorp worth $4,741,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fox Run Management L.L.C. acquired a new position in OFG Bancorp during the third quarter worth $102,000. Algert Global LLC acquired a new position in OFG Bancorp during the third quarter worth $105,000. BNP Paribas Arbitrage SA raised its position in OFG Bancorp by 116.5% in the second quarter. BNP Paribas Arbitrage SA now owns 13,488 shares of the company’s stock worth $112,000 after buying an additional 7,258 shares during the period. Profund Advisors LLC raised its position in OFG Bancorp by 6.1% in the second quarter. Profund Advisors LLC now owns 14,618 shares of the company’s stock worth $121,000 after buying an additional 844 shares during the period. Finally, Wells Fargo & Company MN raised its position in OFG Bancorp by 27.0% in the third quarter. Wells Fargo & Company MN now owns 17,672 shares of the company’s stock worth $179,000 after buying an additional 3,755 shares during the period. 94.59% of the stock is currently owned by hedge funds and other institutional investors.
OFG Bancorp (NYSE:OFG) traded down 3.99% on Friday, hitting $13.25. 59,437 shares of the company’s stock were exchanged. The stock has a market cap of $581.85 million, a P/E ratio of 20.20 and a beta of 1.46. OFG Bancorp has a 52-week low of $4.56 and a 52-week high of $14.48. The firm has a 50 day moving average price of $13.42 and a 200-day moving average price of $11.47.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th were issued a $0.06 dividend. The ex-dividend date was Wednesday, December 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.74%. OFG Bancorp’s payout ratio is 36.92%.
In related news, General Counsel Carlos Souffront sold 18,702 shares of the company’s stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $13.68, for a total transaction of $255,843.36. Following the completion of the sale, the general counsel now directly owns 56,058 shares in the company, valued at approximately $766,873.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jose Rafael Fernandez sold 32,980 shares of the company’s stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $13.86, for a total transaction of $457,102.80. Following the sale, the chief executive officer now owns 223,565 shares of the company’s stock, valued at $3,098,610.90. The disclosure for this sale can be found here. Insiders own 2.63% of the company’s stock.
About OFG Bancorp
OFG Bancorp is a financial holding company. The Company is engaged in providing banking and financial services through its subsidiaries. The Company provides banking and financial services to its clients through a range of banking and financial solutions, including commercial, consumer, auto, and mortgage lending; checking and savings accounts; financial planning, insurance, financial service, and investment brokerage, and corporate and individual trust and retirement services.
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