Thrivent Financial for Lutherans Has $5.80 Million Stake in OFG Bancorp (NYSE:OFG)

Thrivent Financial for Lutherans boosted its holdings in shares of OFG Bancorp (NYSE:OFG - Free Report) by 6.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 137,103 shares of the bank's stock after acquiring an additional 8,589 shares during the quarter. Thrivent Financial for Lutherans owned about 0.30% of OFG Bancorp worth $5,802,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of OFG Bancorp by 48.9% in the 4th quarter. GAMMA Investing LLC now owns 801 shares of the bank's stock worth $34,000 after acquiring an additional 263 shares during the period. Smartleaf Asset Management LLC raised its position in shares of OFG Bancorp by 196.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank's stock valued at $44,000 after buying an additional 680 shares during the last quarter. R Squared Ltd purchased a new position in OFG Bancorp during the fourth quarter worth about $44,000. Blue Trust Inc. raised its stake in OFG Bancorp by 84.8% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the bank's stock worth $93,000 after purchasing an additional 946 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of OFG Bancorp by 736.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,385 shares of the bank's stock worth $101,000 after buying an additional 2,100 shares during the period. 92.73% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

OFG has been the topic of several analyst reports. Wells Fargo & Company lifted their price objective on OFG Bancorp from $45.00 to $48.00 and gave the stock an "overweight" rating in a report on Thursday, January 23rd. Keefe, Bruyette & Woods increased their price objective on shares of OFG Bancorp from $53.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, January 23rd.

OFG Bancorp Stock Performance

Shares of NYSE OFG traded up $0.16 during trading hours on Tuesday, hitting $41.20. 296,936 shares of the company's stock were exchanged, compared to its average volume of 267,356. 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 capitalization of $1.87 billion, a price-to-earnings ratio of 9.76 and a beta of 0.96. The company's 50-day moving average price is $42.12 and its 200-day moving average price is $42.81. 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 announced its quarterly 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 return on equity of 15.80% and a net margin of 22.71%. During the same period last year, the business posted $0.98 EPS. On average, sell-side analysts expect that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.30 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.91%. This is a boost from OFG Bancorp's previous quarterly dividend of $0.25. OFG Bancorp's dividend payout ratio is currently 28.44%.

About OFG Bancorp

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.