Boston Partners Has $801,000 Stock Position in OFG Bancorp (NYSE:OFG)

Boston Partners cut its position in OFG Bancorp (NYSE:OFG - Free Report) by 46.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,938 shares of the bank's stock after selling 16,732 shares during the quarter. Boston Partners' holdings in OFG Bancorp were worth $801,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OFG. Empowered Funds LLC acquired a new position in shares of OFG Bancorp during the fourth quarter worth approximately $4,570,000. Intech Investment Management LLC raised its stake in OFG Bancorp by 411.3% during the 3rd quarter. Intech Investment Management LLC now owns 64,391 shares of the bank's stock valued at $2,892,000 after acquiring an additional 51,798 shares in the last quarter. Barclays PLC boosted its position in OFG Bancorp by 83.6% during the 3rd quarter. Barclays PLC now owns 96,045 shares of the bank's stock worth $4,314,000 after acquiring an additional 43,738 shares during the period. Range Financial Group LLC bought a new position in shares of OFG Bancorp in the fourth quarter worth $1,795,000. Finally, Victory Capital Management Inc. increased its holdings in shares of OFG Bancorp by 21.0% during the fourth quarter. Victory Capital Management Inc. now owns 204,971 shares of the bank's stock valued at $8,674,000 after purchasing an additional 35,561 shares during the period. 92.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on OFG. Wells Fargo & Company raised their target price on shares of 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 Price Performance

OFG stock traded up $0.16 on Tuesday, hitting $41.20. 296,936 shares of the company's stock traded hands, compared to its average volume of 267,974. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 9.76 and a beta of 0.96. OFG Bancorp has a 1-year low of $33.19 and a 1-year high of $47.66. The stock has a fifty day moving average of $42.09 and a 200-day moving average of $42.79.

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 for the quarter, topping the consensus estimate 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 last year, the firm posted $0.98 earnings per share. On average, analysts forecast that OFG Bancorp will post 4.18 EPS for the current fiscal year.

OFG Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, March 31st. This is a positive change from OFG Bancorp's previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 2.91%. OFG Bancorp's dividend payout ratio is currently 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.