Victory Capital Management Inc. Increases Position in OFG Bancorp (NYSE:OFG)

Victory Capital Management Inc. raised its position in shares of OFG Bancorp (NYSE:OFG - Free Report) by 21.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 204,971 shares of the bank's stock after purchasing an additional 35,561 shares during the period. Victory Capital Management Inc. owned approximately 0.45% of OFG Bancorp worth $8,674,000 at the end of the most recent reporting period.

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% 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 during the last quarter. XTX Topco Ltd boosted its position in OFG Bancorp by 5.2% during the third quarter. XTX Topco Ltd now owns 8,387 shares of the bank's stock valued at $377,000 after buying an additional 413 shares during the period. Martingale Asset Management L P grew its stake in shares of OFG Bancorp by 0.5% during the third quarter. Martingale Asset Management L P now owns 87,215 shares of the bank's stock valued at $3,918,000 after buying an additional 460 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings 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 worth $44,000 after buying an additional 680 shares during the period. Finally, KBC Group NV lifted its stake in shares of OFG Bancorp by 39.7% in the 4th quarter. KBC Group NV now owns 2,620 shares of the bank's stock valued at $111,000 after acquiring an additional 745 shares during the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

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OFG Bancorp Trading Up 0.6 %

NYSE OFG traded up $0.24 on Monday, hitting $40.88. The company's stock had a trading volume of 590,395 shares, compared to its average volume of 249,379. The firm has a market cap of $1.86 billion, a P/E ratio of 9.69 and a beta of 0.96. OFG Bancorp has a 52-week low of $33.19 and a 52-week high of $47.66. The company's 50-day simple moving average is $42.23 and its 200 day simple moving average is $43.00. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26.

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, topping 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 last year, the business earned $0.98 earnings per share. Research analysts predict that OFG Bancorp will post 4.18 EPS for the current fiscal year.

OFG Bancorp Increases Dividend

The business 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 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 of this dividend is Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.94%. OFG Bancorp's payout ratio is presently 28.44%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wells Fargo & Company lifted their price target on OFG Bancorp from $45.00 to $48.00 and gave the stock an "overweight" rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods increased their price target 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.