Thrivent Financial for Lutherans Grows Position in OFG Bancorp (NYSE:OFG)

Thrivent Financial for Lutherans grew its position in shares of OFG Bancorp (NYSE:OFG - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 137,103 shares of the bank's stock after buying an additional 8,589 shares during the quarter. Thrivent Financial for Lutherans owned 0.30% of OFG Bancorp worth $5,802,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in OFG. Empowered Funds LLC purchased a new stake in OFG Bancorp during the 4th quarter valued at $4,570,000. Barclays PLC grew its position in OFG Bancorp by 83.6% during the third quarter. Barclays PLC now owns 96,045 shares of the bank's stock valued at $4,314,000 after buying an additional 43,738 shares during the period. Range Financial Group LLC purchased a new stake in OFG Bancorp during the fourth quarter valued at approximately $1,795,000. Victory Capital Management Inc. increased its holdings in OFG Bancorp by 21.0% during the fourth quarter. Victory Capital Management Inc. now owns 204,971 shares of the bank's stock valued at $8,674,000 after buying an additional 35,561 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in OFG Bancorp in the third quarter worth approximately $1,271,000. Institutional investors own 92.73% of the company's stock.

OFG Bancorp Price Performance

NYSE:OFG traded down $0.70 during trading hours on Friday, reaching $40.27. The stock had a trading volume of 188,585 shares, compared to its average volume of 289,030. The company has a 50 day moving average price of $42.00 and a two-hundred day moving average price of $42.76. OFG Bancorp has a 52 week low of $33.19 and a 52 week high of $47.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.85. The stock has a market capitalization of $1.83 billion, a PE ratio of 9.54 and a beta of 0.96.

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OFG Bancorp (NYSE:OFG - Get Free Report) last released its earnings results on Wednesday, January 22nd. The bank reported $1.09 earnings per share for the quarter, beating the consensus estimate 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 prior year, the company posted $0.98 EPS. As a group, sell-side analysts anticipate 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 will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.30 per share. 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 dividend on an annualized basis and a yield of 2.98%. OFG Bancorp's dividend payout ratio (DPR) is presently 28.44%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on OFG. Keefe, Bruyette & Woods upped their price target 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 upped their target price on shares of OFG Bancorp from $45.00 to $48.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd.

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.