Foundry Partners LLC Has $10.04 Million Holdings in OFG Bancorp (NYSE:OFG)

Foundry Partners LLC lifted its stake in shares of OFG Bancorp (NYSE:OFG - Free Report) by 76.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 237,264 shares of the bank's stock after purchasing an additional 102,841 shares during the quarter. Foundry Partners LLC owned about 0.52% of OFG Bancorp worth $10,041,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in OFG. FMR LLC boosted its holdings in shares of OFG Bancorp by 8.1% during the third quarter. FMR LLC now owns 205,745 shares of the bank's stock valued at $9,242,000 after acquiring an additional 15,498 shares during the period. BNP Paribas Financial Markets boosted its stake in OFG Bancorp by 109.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 35,302 shares of the bank's stock valued at $1,586,000 after purchasing an additional 18,425 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its position in OFG Bancorp by 56.7% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,559 shares of the bank's stock worth $115,000 after purchasing an additional 926 shares during the last quarter. Paloma Partners Management Co bought a new position in OFG Bancorp in the 3rd quarter worth about $234,000. Finally, Centiva Capital LP increased its stake in shares of OFG Bancorp by 12.9% in the third quarter. Centiva Capital LP now owns 14,592 shares of the bank's stock valued at $655,000 after purchasing an additional 1,665 shares during the period. Institutional investors own 92.73% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on OFG. Wells Fargo & Company boosted their price objective on OFG Bancorp from $45.00 to $48.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods boosted their price target on 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 Price Performance

Shares of NYSE OFG traded down $1.74 during mid-day trading on Friday, reaching $34.96. 402,091 shares of the company traded hands, compared to its average volume of 291,233. OFG Bancorp has a fifty-two week low of $33.19 and a fifty-two week high of $47.66. The firm has a market cap of $1.59 billion, a PE ratio of 8.28 and a beta of 0.74. The stock has a fifty day simple moving average of $41.36 and a 200-day simple moving average of $42.53. 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 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 in the previous year, the firm posted $0.98 EPS. Equities research analysts anticipate that OFG Bancorp will post 4.18 EPS for the current fiscal year.

OFG Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.30 per share. This is a positive change 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 annualized dividend and a dividend yield of 3.43%. OFG Bancorp's dividend payout ratio (DPR) is 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.