Sei Investments Co. lowered its holdings in OFG Bancorp (NYSE:OFG - Free Report) by 49.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 22,540 shares of the bank's stock after selling 22,301 shares during the quarter. Sei Investments Co.'s holdings in OFG Bancorp were worth $954,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in OFG. State Street Corp boosted its holdings in OFG Bancorp by 0.9% in the third quarter. State Street Corp now owns 2,177,560 shares of the bank's stock valued at $98,354,000 after purchasing an additional 19,372 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of OFG Bancorp by 0.9% in the 4th 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 in the last quarter. KBC Group NV grew its position in shares of OFG Bancorp by 39.7% in the 4th quarter. KBC Group NV now owns 2,620 shares of the bank's stock valued at $111,000 after buying an additional 745 shares during the last quarter. GAMMA Investing LLC raised its stake in OFG Bancorp by 48.9% during the 4th quarter. GAMMA Investing LLC now owns 801 shares of the bank's stock worth $34,000 after acquiring an additional 263 shares in the last quarter. Finally, Barclays PLC raised its stake in OFG Bancorp by 83.6% during the 3rd quarter. Barclays PLC now owns 96,045 shares of the bank's stock worth $4,314,000 after acquiring an additional 43,738 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company's stock.
OFG Bancorp Stock Performance
Shares of NYSE:OFG traded down $0.20 on Friday, reaching $34.89. The company's stock had a trading volume of 263,605 shares, compared to its average volume of 295,228. 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 has a 52-week low of $33.15 and a 52-week high of $47.66. The stock's 50-day moving average is $40.30 and its two-hundred day moving average is $42.12. The stock has a market capitalization of $1.59 billion, a P/E ratio of 8.27 and a beta of 0.74.
OFG Bancorp (NYSE:OFG - Get Free Report) last posted 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 return on equity of 15.80% and a net margin of 22.71%. During the same quarter in the previous year, the business posted $0.98 earnings per share. As a group, sell-side analysts forecast 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 will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a yield of 3.44%. This is an increase from OFG Bancorp's previous quarterly dividend of $0.25. OFG Bancorp's dividend payout ratio is presently 28.44%.
Wall Street Analyst Weigh In
A number of analysts have recently commented on OFG shares. Keefe, Bruyette & Woods lifted their target price on OFG Bancorp from $53.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Wells Fargo & Company lowered OFG Bancorp from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $48.00 to $42.00 in a research report on Wednesday.
View Our Latest Report on OFG
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.
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