Teacher Retirement System of Texas Has $3.07 Million Stake in OFG Bancorp (NYSE:OFG)

Teacher Retirement System of Texas cut its holdings in shares of OFG Bancorp (NYSE:OFG - Free Report) by 22.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,531 shares of the bank's stock after selling 21,280 shares during the quarter. Teacher Retirement System of Texas owned about 0.16% of OFG Bancorp worth $3,070,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. GAMMA Investing LLC increased its position in OFG Bancorp by 48.9% during the fourth quarter. GAMMA Investing LLC now owns 801 shares of the bank's stock worth $34,000 after acquiring an additional 263 shares during the period. R Squared Ltd acquired a new stake in OFG Bancorp in the 4th quarter worth $44,000. Smartleaf Asset Management LLC increased its holdings in shares of OFG Bancorp by 196.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank's stock worth $44,000 after purchasing an additional 680 shares during the period. Blue Trust Inc. raised its position in shares of OFG Bancorp by 84.8% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the bank's stock valued at $93,000 after buying an additional 946 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of OFG Bancorp by 736.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,385 shares of the bank's stock valued at $101,000 after buying an additional 2,100 shares during the period. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company boosted 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 boosted their price objective on OFG Bancorp from $53.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd.

Remove Ads

OFG Bancorp Price Performance

NYSE:OFG traded down $0.70 during mid-day trading on Friday, hitting $40.27. The company's stock had a trading volume of 188,585 shares, compared to its average volume of 288,892. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 9.54 and a beta of 0.96. The company has a current ratio of 0.85, a quick ratio of 0.86 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. The stock has a fifty day moving average of $41.92 and a 200-day moving average of $42.74.

OFG Bancorp (NYSE:OFG - Get Free Report) last issued 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 period in the previous year, the firm posted $0.98 earnings per share. As a group, equities analysts forecast that OFG Bancorp will post 4.18 EPS 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. Stockholders of record on Monday, March 31st will be issued a $0.30 dividend. This is a positive change from OFG Bancorp's previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.98%. OFG Bancorp's dividend payout ratio is presently 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.