Versor Investments LP Sells 22,100 Shares of OFG Bancorp (NYSE:OFG)

Versor Investments LP cut its position in OFG Bancorp (NYSE:OFG - Free Report) by 62.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,519 shares of the bank's stock after selling 22,100 shares during the quarter. Versor Investments LP's holdings in OFG Bancorp were worth $572,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. State Street Corp boosted its holdings in OFG Bancorp by 0.9% during the 3rd 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 period. Geode Capital Management LLC grew its holdings in shares of OFG Bancorp by 0.4% in the third quarter. Geode Capital Management LLC now owns 1,080,937 shares of the bank's stock valued at $48,565,000 after purchasing an additional 4,398 shares in the last quarter. Wellington Management Group LLP increased its stake in OFG Bancorp by 2.6% during the 3rd quarter. Wellington Management Group LLP now owns 769,727 shares of the bank's stock worth $34,576,000 after buying an additional 19,599 shares during the period. Principal Financial Group Inc. increased its stake in OFG Bancorp by 2.6% during the 4th quarter. Principal Financial Group Inc. now owns 251,774 shares of the bank's stock worth $10,655,000 after buying an additional 6,392 shares during the period. Finally, FMR LLC lifted its holdings in OFG Bancorp by 8.1% during the 3rd quarter. FMR LLC now owns 205,745 shares of the bank's stock worth $9,242,000 after buying an additional 15,498 shares in the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

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

OFG Bancorp Price Performance

Shares of OFG stock traded up $0.09 during midday trading on Wednesday, reaching $40.96. 306,125 shares of the company traded hands, compared to its average volume of 344,851. The firm's 50 day simple moving average is $42.61 and its two-hundred day simple moving average is $43.22. The firm has a market cap of $1.88 billion, a PE ratio of 9.71 and a beta of 1.00. OFG Bancorp has a 1-year low of $33.19 and a 1-year high of $47.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.85 and a quick ratio of 0.86.

OFG Bancorp (NYSE:OFG - Get Free Report) last announced 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 net margin of 22.71% and a return on equity of 15.80%. During the same period in the prior year, the business posted $0.98 earnings per share. On average, equities research analysts expect that OFG Bancorp will post 4.18 EPS for the current fiscal year.

OFG Bancorp Increases Dividend

The company also recently announced 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 of this dividend is Monday, March 31st. This is an increase from OFG Bancorp's previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 2.93%. OFG Bancorp's dividend payout ratio is 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.