Renaissance Technologies LLC raised its position in OFG Bancorp (NYSE:OFG - Free Report) by 61.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,600 shares of the bank's stock after purchasing an additional 32,300 shares during the quarter. Renaissance Technologies LLC owned 0.18% of OFG Bancorp worth $3,580,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in OFG Bancorp by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,652,224 shares of the bank's stock valued at $69,922,000 after buying an additional 14,618 shares during the period. American Century Companies Inc. raised its stake in shares of OFG Bancorp by 8.3% in the 4th quarter. American Century Companies Inc. now owns 1,167,849 shares of the bank's stock valued at $49,423,000 after acquiring an additional 89,450 shares during the period. Geode Capital Management LLC lifted its holdings in shares of OFG Bancorp by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,080,937 shares of the bank's stock valued at $48,565,000 after acquiring an additional 4,398 shares in the last quarter. JPMorgan Chase & Co. boosted its position in OFG Bancorp by 5.0% during the 4th quarter. JPMorgan Chase & Co. now owns 894,049 shares of the bank's stock worth $37,836,000 after purchasing an additional 42,335 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in OFG Bancorp by 1.7% during the 4th quarter. Russell Investments Group Ltd. now owns 259,232 shares of the bank's stock worth $10,971,000 after purchasing an additional 4,353 shares during the period. 92.73% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have commented on OFG. Wells Fargo & Company lowered OFG Bancorp from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $48.00 to $42.00 in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods raised their target price on OFG Bancorp from $53.00 to $55.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd.
Check Out Our Latest Stock Report on OFG Bancorp
OFG Bancorp Stock Performance
NYSE:OFG opened at $36.22 on Wednesday. The firm has a 50-day moving average of $39.19 and a two-hundred day moving average of $41.73. 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 $1.65 billion, a P/E ratio of 8.58 and a beta of 0.74. OFG Bancorp has a 1-year low of $33.15 and a 1-year high of $47.66.
OFG Bancorp (NYSE:OFG - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.09 earnings per share for the quarter, beating 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 quarter last year, the firm posted $0.98 earnings per share. On average, research analysts expect that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.
OFG Bancorp Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.30 per share. This is a positive change from OFG Bancorp's previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Monday, March 31st. OFG Bancorp's dividend payout ratio (DPR) is currently 28.44%.
OFG Bancorp Company Profile
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Free Report)
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.
Read More
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