Vanguard Group Inc. Sells 110,293 Shares of OFG Bancorp (NYSE:OFG)

Vanguard Group Inc. lessened its stake in shares of OFG Bancorp (NYSE:OFG - Free Report) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,790,714 shares of the bank's stock after selling 110,293 shares during the quarter. Vanguard Group Inc. owned about 12.62% of OFG Bancorp worth $245,063,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OFG. GAMMA Investing LLC boosted its position in shares of OFG Bancorp by 48.9% during 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. Smartleaf Asset Management LLC grew its stake in OFG Bancorp by 196.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank's stock valued at $44,000 after acquiring an additional 680 shares in the last quarter. R Squared Ltd acquired a new position in shares of OFG Bancorp in the 4th quarter valued at about $44,000. Blue Trust Inc. lifted its position in shares of OFG Bancorp by 84.8% in 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 in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of OFG Bancorp by 736.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,385 shares of the bank's stock worth $101,000 after purchasing an additional 2,100 shares during the period. Institutional investors own 92.73% of the company's stock.

OFG Bancorp Stock Down 5.3 %

OFG traded down $1.98 during midday trading on Thursday, hitting $35.00. 315,503 shares of the company's stock traded hands, compared to its average volume of 294,700. 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 company has a market cap of $1.59 billion, a PE ratio of 8.29 and a beta of 0.74. The stock's fifty day simple moving average is $40.46 and its 200-day simple moving average is $42.18. OFG Bancorp has a one year low of $33.15 and a one year high of $47.66.

OFG Bancorp (NYSE:OFG - Get Free Report) last released its quarterly earnings results 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 net margin of 22.71% and a return on equity of 15.80%. During the same quarter in the prior year, the company posted $0.98 EPS. As a group, equities 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 3.43%. This is a boost from OFG Bancorp's previous quarterly dividend of $0.25. OFG Bancorp's payout ratio is currently 28.44%.

Wall Street Analysts Forecast Growth

OFG has been the subject of a number of research analyst reports. Wells Fargo & Company downgraded shares of OFG Bancorp from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $48.00 to $42.00 in a research report on Wednesday. Keefe, Bruyette & Woods increased their price objective on OFG Bancorp from $53.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, January 23rd.

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.