Bank of New York Mellon Corp Has $19.18 Million Holdings in OFG Bancorp (NYSE:OFG)

Bank of New York Mellon Corp decreased its position in shares of OFG Bancorp (NYSE:OFG - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 453,258 shares of the bank's stock after selling 12,208 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.99% of OFG Bancorp worth $19,182,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Ieq Capital LLC acquired a new position in OFG Bancorp during the 4th quarter worth $210,000. Principal Financial Group Inc. lifted its holdings in OFG Bancorp by 2.6% during the 4th quarter. Principal Financial Group Inc. now owns 251,774 shares of the bank's stock worth $10,655,000 after buying an additional 6,392 shares in the last quarter. Rhumbline Advisers lifted its holdings in OFG Bancorp by 1.3% during the 4th quarter. Rhumbline Advisers now owns 136,503 shares of the bank's stock worth $5,777,000 after buying an additional 1,785 shares in the last quarter. Empowered Funds LLC acquired a new position in OFG Bancorp during the 4th quarter worth $4,570,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in OFG Bancorp by 17.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,701 shares of the bank's stock worth $1,456,000 after buying an additional 5,041 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on OFG shares. Wells Fargo & Company increased their price target on OFG Bancorp from $45.00 to $48.00 and gave the company an "overweight" rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods increased their price target on OFG Bancorp from $53.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, January 23rd.

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OFG Bancorp Trading Up 2.4 %

Shares of OFG traded up $0.94 during trading hours on Friday, reaching $40.60. The stock had a trading volume of 359,510 shares, compared to its average volume of 254,205. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. OFG Bancorp has a 52 week low of $33.19 and a 52 week high of $47.66. The firm has a 50-day moving average of $42.31 and a 200 day moving average of $43.09. The company has a market cap of $1.84 billion, a P/E ratio of 9.62 and a beta of 0.96.

OFG Bancorp (NYSE:OFG - Get Free Report) last released its earnings results on Wednesday, January 22nd. The bank reported $1.09 earnings per share (EPS) for the quarter, topping 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 firm posted $0.98 earnings per share. On average, sell-side analysts expect that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Monday, March 31st. This is a boost from OFG Bancorp's previous quarterly dividend of $0.25. OFG Bancorp's dividend payout ratio is 28.44%.

OFG Bancorp Company Profile

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.