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

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

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

OFG Bancorp Trading Down 4.7 %

Shares of OFG Bancorp stock opened at $34.96 on Friday. The firm has a market capitalization of $1.59 billion, a PE ratio of 8.28 and a beta of 0.74. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The firm's 50 day moving average is $41.36 and its 200 day moving average is $42.55. OFG Bancorp has a 1 year low of $33.19 and a 1 year high of $47.66.

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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 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 period in the previous year, the business posted $0.98 earnings per share. Equities research analysts forecast 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. Stockholders of record on Monday, March 31st will be paid a $0.30 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.20 annualized dividend and a dividend yield of 3.43%. This is an increase from OFG Bancorp's previous quarterly dividend of $0.25. OFG Bancorp's dividend payout ratio is currently 28.44%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of OFG Bancorp from $45.00 to $48.00 and gave the company an "overweight" rating in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of OFG Bancorp from $53.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd.

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.

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