Rhumbline Advisers Has $5.78 Million Stake in OFG Bancorp (NYSE:OFG)

Rhumbline Advisers lifted its position in shares of OFG Bancorp (NYSE:OFG) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,503 shares of the bank’s stock after buying an additional 1,785 shares during the period. Rhumbline Advisers owned about 0.30% of OFG Bancorp worth $5,777,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of OFG. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in OFG Bancorp during the 3rd quarter worth approximately $984,000. Foundry Partners LLC bought a new stake in shares of OFG Bancorp in the third quarter worth $6,038,000. State Street Corp lifted its position in OFG Bancorp by 0.9% during the 3rd quarter. State Street Corp now owns 2,177,560 shares of the bank’s stock worth $98,354,000 after buying an additional 19,372 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in OFG Bancorp in the third quarter valued at approximately $759,000. Finally, KBC Group NV raised its position in OFG Bancorp by 39.7% during the fourth quarter. KBC Group NV now owns 2,620 shares of the bank’s stock worth $111,000 after acquiring an additional 745 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Jose Rafael Fernandez sold 50,000 shares of OFG Bancorp stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $45.24, for a total transaction of $2,262,000.00. Following the sale, the chief executive officer now directly owns 284,775 shares of the company’s stock, valued at approximately $12,883,221. The trade was a 14.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.16% of the company’s stock.

OFG Bancorp Trading Down 0.2 %

Shares of OFG Bancorp stock opened at $41.68 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. OFG Bancorp has a 12-month low of $33.19 and a 12-month high of $47.66. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 9.88 and a beta of 1.00. The firm’s 50-day moving average price is $42.67 and its two-hundred day moving average price is $43.24.

OFG Bancorp (NYSE:OFG) last issued its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.09 earnings per share for the quarter, topping 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 firm posted $0.98 earnings per share. On average, analysts forecast that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp Increases Dividend

The firm also recently declared 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. This is a positive change from OFG Bancorp’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.88%. OFG Bancorp’s dividend payout ratio (DPR) is presently 28.44%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of 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 lifted their target price 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 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.