Geode Capital Management LLC Sells 9,100 Shares of OFG Bancorp (NYSE:OFG)

Geode Capital Management LLC lessened its position in OFG Bancorp (NYSE:OFG - Free Report) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,071,837 shares of the bank's stock after selling 9,100 shares during the period. Geode Capital Management LLC owned 2.34% of OFG Bancorp worth $45,371,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in OFG Bancorp by 48.9% in the 4th quarter. GAMMA Investing LLC now owns 801 shares of the bank's stock worth $34,000 after purchasing an additional 263 shares in the last quarter. Prudential Financial Inc. raised its stake in OFG Bancorp by 0.5% in the fourth quarter. Prudential Financial Inc. now owns 67,999 shares of the bank's stock worth $2,878,000 after buying an additional 370 shares in the last quarter. XTX Topco Ltd lifted its holdings in OFG Bancorp by 5.2% in the third quarter. XTX Topco Ltd now owns 8,387 shares of the bank's stock worth $377,000 after buying an additional 413 shares during the period. Smartleaf Asset Management LLC boosted its position in OFG Bancorp by 196.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank's stock valued at $44,000 after acquiring an additional 680 shares in the last quarter. Finally, KBC Group NV boosted its position in OFG Bancorp by 39.7% during the 4th quarter. KBC Group NV now owns 2,620 shares of the bank's stock valued at $111,000 after acquiring an additional 745 shares in the last quarter. Institutional investors own 92.73% of the company's stock.

Analysts Set New Price Targets

OFG has been the topic of several recent research reports. Keefe, Bruyette & Woods upped their price target on OFG Bancorp from $53.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, January 23rd. Wells Fargo & Company downgraded shares of OFG Bancorp from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $48.00 to $42.00 in a research report on Wednesday, April 9th.

OFG Bancorp Stock Up 0.8 %

OFG stock traded up $0.30 during trading on Friday, hitting $35.72. 502,477 shares of the stock traded hands, compared to its average volume of 298,891. 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 stock has a market cap of $1.62 billion, a price-to-earnings ratio of 8.46 and a beta of 0.74. OFG Bancorp has a 1 year low of $33.15 and a 1 year high of $47.66. The firm's 50 day moving average is $39.49 and its two-hundred day moving average is $41.83.

OFG Bancorp (NYSE:OFG - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.12. OFG Bancorp had a net margin of 22.71% and a return on equity of 15.80%. During the same period last year, the company posted $0.98 earnings per share. On average, sell-side analysts anticipate that OFG Bancorp will post 4.18 EPS for the current year.

OFG Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was 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%.

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.