Quantbot Technologies LP Has $1.24 Million Position in OFG Bancorp (NYSE:OFG)

Quantbot Technologies LP increased its position in shares of OFG Bancorp (NYSE:OFG - Free Report) by 108.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,232 shares of the bank's stock after acquiring an additional 15,200 shares during the period. Quantbot Technologies LP owned about 0.06% of OFG Bancorp worth $1,237,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of OFG. Citigroup Inc. lifted its stake in shares of OFG Bancorp by 7.9% in the 3rd quarter. Citigroup Inc. now owns 91,216 shares of the bank's stock valued at $4,097,000 after purchasing an additional 6,716 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of OFG Bancorp during the 3rd quarter worth about $915,000. FMR LLC increased its holdings in shares of OFG Bancorp by 8.1% during the 3rd 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 last quarter. BNP Paribas Financial Markets raised its stake in shares of OFG Bancorp by 109.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 35,302 shares of the bank's stock valued at $1,586,000 after acquiring an additional 18,425 shares in the last quarter. Finally, Cynosure Group LLC acquired a new stake in OFG Bancorp in the 3rd quarter worth approximately $366,000. Institutional investors and hedge funds own 92.73% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on OFG shares. Keefe, Bruyette & Woods lifted their price target on shares of OFG Bancorp from $53.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. Wells Fargo & Company lifted their target price 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 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 stock's 50-day moving average is $41.92 and its two-hundred day moving average is $42.74. The firm has a market capitalization of $1.83 billion, a PE ratio of 9.54 and a beta of 0.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.85. OFG Bancorp has a one year low of $33.19 and a one year high of $47.66.

OFG Bancorp (NYSE:OFG - Get Free Report) last released its earnings results on Wednesday, January 22nd. The bank reported $1.09 EPS for the quarter, beating the consensus estimate 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 quarter in the previous year, the company posted $0.98 earnings per share. As a group, sell-side analysts anticipate that OFG Bancorp will post 4.18 EPS for the current year.

OFG Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.30 per share. The ex-dividend date is Monday, March 31st. This is an increase from OFG Bancorp's previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 2.98%. OFG Bancorp's dividend payout ratio (DPR) is 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.