OFG Bancorp (NYSE:OFG) Shares Purchased by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC lifted its stake in OFG Bancorp (NYSE:OFG) by 196.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,026 shares of the bank’s stock after acquiring an additional 680 shares during the period. Smartleaf Asset Management LLC’s holdings in OFG Bancorp were worth $44,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ieq Capital LLC bought a new stake in OFG Bancorp during the fourth quarter worth approximately $210,000. Principal Financial Group Inc. raised its stake in shares of OFG Bancorp by 2.6% in 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 in the last quarter. Rhumbline Advisers raised its stake in shares of OFG Bancorp by 1.3% in the 4th quarter. Rhumbline Advisers now owns 136,503 shares of the bank’s stock worth $5,777,000 after buying an additional 1,785 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of OFG Bancorp in the 4th quarter worth $4,570,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of OFG Bancorp by 17.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,701 shares of the bank’s stock worth $1,456,000 after buying an additional 5,041 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors.

OFG Bancorp Stock Down 0.8 %

Shares of OFG Bancorp stock opened at $38.86 on Wednesday. The stock’s fifty day moving average is $42.37 and its 200-day moving average is $43.12. The firm has a market capitalization of $1.76 billion, a PE ratio of 9.21 and a beta of 0.96. 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.

OFG Bancorp (NYSE:OFG) last posted its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the firm posted $0.98 EPS. Equities analysts anticipate that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.30 per share. 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%. This is a positive change from OFG Bancorp’s previous quarterly dividend of $0.25. OFG Bancorp’s payout ratio is currently 28.44%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wells Fargo & Company boosted their price target 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 boosted 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 Company 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.