Thomas J. Herzfeld Advisors Inc. Sells 10,000 Shares of OFG Bancorp (NYSE:OFG)

Thomas J. Herzfeld Advisors Inc. decreased its position in shares of OFG Bancorp (NYSE:OFG - Free Report) by 18.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,454 shares of the bank's stock after selling 10,000 shares during the quarter. Thomas J. Herzfeld Advisors Inc. owned 0.09% of OFG Bancorp worth $1,839,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of OFG Bancorp during the 3rd quarter worth $984,000. State Street Corp grew its position 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 acquiring an additional 19,372 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in OFG Bancorp by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,652,224 shares of the bank's stock worth $69,922,000 after acquiring an additional 14,618 shares in the last quarter. KBC Group NV lifted its holdings in shares of OFG Bancorp by 39.7% in the fourth quarter. KBC Group NV now owns 2,620 shares of the bank's stock worth $111,000 after acquiring an additional 745 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of OFG Bancorp by 48.9% in the 4th quarter. GAMMA Investing LLC now owns 801 shares of the bank's stock valued at $34,000 after purchasing an additional 263 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of 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 boosted their target price on shares of OFG Bancorp from $45.00 to $48.00 and gave the stock an "overweight" rating in a research note on Thursday, January 23rd.

OFG Bancorp Trading Down 4.7 %

Shares of OFG stock traded down $1.74 during mid-day trading on Friday, reaching $34.96. 402,091 shares of the stock traded hands, compared to its average volume of 291,233. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 8.28 and a beta of 0.74. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. The stock's fifty day simple moving average is $41.36 and its two-hundred day simple moving average is $42.55. OFG Bancorp has a 1-year low of $33.19 and a 1-year high of $47.66.

OFG Bancorp (NYSE:OFG - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The bank reported $1.09 EPS for the quarter, topping 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 prior year, the firm posted $0.98 EPS. On average, research analysts anticipate that OFG Bancorp will post 4.18 EPS for the current fiscal year.

OFG Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.43%. This is an increase from OFG Bancorp's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 31st. OFG Bancorp's dividend payout ratio is presently 28.44%.

OFG Bancorp 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.