OFG Bancorp (NYSE:OFG) Holdings Raised by American Century Companies Inc.

American Century Companies Inc. grew its stake in shares of OFG Bancorp (NYSE:OFG - Free Report) by 8.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,167,849 shares of the bank's stock after buying an additional 89,450 shares during the quarter. American Century Companies Inc. owned about 2.54% of OFG Bancorp worth $49,423,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC bought a new stake in OFG Bancorp during the fourth quarter worth approximately $4,570,000. Barclays PLC increased its position in shares of OFG Bancorp by 83.6% during the 3rd quarter. Barclays PLC now owns 96,045 shares of the bank's stock valued at $4,314,000 after purchasing an additional 43,738 shares during the period. Range Financial Group LLC bought a new stake in shares of OFG Bancorp in the 4th quarter worth $1,795,000. Victory Capital Management Inc. lifted its holdings in shares of OFG Bancorp by 21.0% in the fourth quarter. Victory Capital Management Inc. now owns 204,971 shares of the bank's stock valued at $8,674,000 after buying an additional 35,561 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in OFG Bancorp during the third quarter worth about $1,271,000. 92.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on OFG shares. Wells Fargo & Company raised their price objective on shares of 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 lifted their price target on shares of OFG Bancorp from $53.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd.

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OFG Bancorp Trading Down 1.7 %

NYSE OFG traded down $0.70 on Friday, hitting $40.27. 188,585 shares of the company were exchanged, compared to its average volume of 288,892. OFG Bancorp has a twelve month low of $33.19 and a twelve month high of $47.66. The company's 50 day moving average price is $41.92 and its 200-day moving average price is $42.73. The firm has a market capitalization of $1.83 billion, a P/E ratio of 9.54 and a beta of 0.96. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.85 and a quick ratio of 0.86.

OFG Bancorp (NYSE:OFG - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.09 earnings per share (EPS) for the quarter, beating 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 last year, the company earned $0.98 EPS. Analysts predict that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued 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 2.98%. This is a positive change from OFG Bancorp's previous quarterly dividend of $0.25. OFG Bancorp's dividend payout ratio is presently 28.44%.

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.