Charles Schwab Investment Management Inc. Boosts Stock Holdings in OFG Bancorp (NYSE:OFG)

Charles Schwab Investment Management Inc. raised its holdings in OFG Bancorp (NYSE:OFG) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,652,224 shares of the bank’s stock after purchasing an additional 14,618 shares during the period. Charles Schwab Investment Management Inc. owned 3.60% of OFG Bancorp worth $69,922,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of OFG. GAMMA Investing LLC grew its stake in OFG Bancorp by 48.9% during 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 in the last quarter. XTX Topco Ltd grew its stake 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 acquiring an additional 413 shares in the last quarter. Martingale Asset Management L P grew its stake in 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 acquiring an additional 460 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in OFG Bancorp by 196.5% during the fourth 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. Finally, KBC Group NV grew its stake in OFG Bancorp by 39.7% during the fourth quarter. KBC Group NV now owns 2,620 shares of the bank’s stock valued at $111,000 after acquiring an additional 745 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on OFG shares. Wells Fargo & Company boosted their price objective on shares of OFG Bancorp from $45.00 to $48.00 and gave the company an “overweight” rating in a research note 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 note on Thursday, January 23rd.

OFG Bancorp Trading Down 0.8 %

Shares of OFG Bancorp stock opened at $38.86 on Wednesday. OFG Bancorp has a 1 year low of $33.19 and a 1 year high of $47.66. The firm has a market cap of $1.76 billion, a PE ratio of 9.21 and a beta of 0.96. 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 50 day simple moving average of $42.37 and a two-hundred day simple moving average of $43.12.

OFG Bancorp (NYSE:OFG) last announced its earnings results on Wednesday, January 22nd. The bank reported $1.09 earnings per share (EPS) 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 quarter last year, the firm earned $0.98 earnings per share. Analysts expect that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp Increases Dividend

The firm 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. This is a boost from OFG Bancorp’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.09%. OFG Bancorp’s dividend payout ratio is 28.44%.

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.