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

Boston Partners lessened its stake in OFG Bancorp (NYSE:OFG - Free Report) by 46.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC bought a new position in OFG Bancorp in the fourth quarter worth about $4,570,000. Intech Investment Management LLC grew its holdings in OFG Bancorp by 411.3% during the third quarter. Intech Investment Management LLC now owns 64,391 shares of the bank's stock worth $2,892,000 after acquiring an additional 51,798 shares during the period. Barclays PLC lifted its stake in OFG Bancorp by 83.6% during the third 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 last quarter. Range Financial Group LLC bought a new stake in shares of OFG Bancorp during the 4th quarter worth $1,795,000. Finally, Victory Capital Management Inc. boosted its position in shares of OFG Bancorp by 21.0% in the 4th 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. Institutional investors and hedge funds own 92.73% of the company's stock.

Wall Street Analyst Weigh In

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

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OFG Bancorp Stock Performance

Shares of OFG stock traded down $0.11 during trading hours on Wednesday, reaching $41.06. 233,883 shares of the company's stock were exchanged, compared to its average volume of 267,889. The business has a fifty day moving average price of $42.09 and a 200-day moving average price of $42.79. The stock has a market capitalization of $1.87 billion, a P/E ratio of 9.73 and a beta of 0.96. 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 fifty-two week low of $33.19 and a fifty-two week high of $47.66.

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

OFG Bancorp Increases Dividend

The firm also recently declared 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. This is a boost from OFG Bancorp's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.92%. OFG Bancorp's dividend payout ratio (DPR) is currently 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.