Arrowstreet Capital Limited Partnership Has $3.88 Million Stock Position in OFG Bancorp (NYSE:OFG)

Arrowstreet Capital Limited Partnership lowered its holdings in OFG Bancorp (NYSE:OFG - Free Report) by 78.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,686 shares of the bank's stock after selling 338,596 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.20% of OFG Bancorp worth $3,880,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in OFG Bancorp by 48.9% during the fourth quarter. GAMMA Investing LLC now owns 801 shares of the bank's stock worth $34,000 after buying an additional 263 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of OFG Bancorp by 196.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank's stock valued at $44,000 after purchasing an additional 680 shares during the last quarter. R Squared Ltd purchased a new position in OFG Bancorp in the 4th quarter worth about $44,000. Blue Trust Inc. increased its stake in OFG Bancorp by 84.8% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the bank's stock worth $93,000 after purchasing an additional 946 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in OFG Bancorp by 736.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,385 shares of the bank's stock worth $101,000 after buying an additional 2,100 shares during the period. 92.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on OFG. Keefe, Bruyette & Woods upped their price target 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 cut OFG Bancorp from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $48.00 to $42.00 in a research report on Wednesday, April 9th.

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OFG Bancorp Stock Up 0.6 %

OFG Bancorp stock traded up $0.22 during trading hours on Monday, hitting $35.10. The company had a trading volume of 8,508 shares, compared to its average volume of 410,420. OFG Bancorp has a fifty-two week low of $33.15 and a fifty-two week high of $47.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.85 and a quick ratio of 0.86. The firm has a market capitalization of $1.59 billion, a P/E ratio of 8.32 and a beta of 0.74. The firm's fifty day moving average is $40.30 and its 200-day moving average is $42.10.

OFG Bancorp (NYSE:OFG - Get Free Report) last released its quarterly earnings data 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 return on equity of 15.80% and a net margin of 22.71%. During the same quarter in the previous year, the business earned $0.98 earnings per share. On average, research analysts forecast that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from OFG Bancorp's previous quarterly dividend of $0.25. OFG Bancorp's dividend payout ratio (DPR) 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.