Victory Capital Management Inc. Has $8.67 Million Stock Holdings in OFG Bancorp (NYSE:OFG)

Victory Capital Management Inc. grew its holdings in shares of OFG Bancorp (NYSE:OFG) by 21.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 204,971 shares of the bank’s stock after buying an additional 35,561 shares during the quarter. Victory Capital Management Inc. owned 0.45% of OFG Bancorp worth $8,674,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in OFG Bancorp by 48.9% in the 4th 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. R Squared Ltd purchased a new position in shares of OFG Bancorp during the fourth quarter valued at approximately $44,000. Smartleaf Asset Management LLC grew its holdings in OFG Bancorp by 196.5% during 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 in the last quarter. Blue Trust Inc. raised its position in OFG Bancorp by 84.8% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the bank’s stock valued at $93,000 after buying an additional 946 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in OFG Bancorp by 736.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,385 shares of the bank’s stock valued at $101,000 after acquiring an additional 2,100 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on OFG shares. Keefe, Bruyette & Woods upped their target price on shares of OFG Bancorp from $53.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Wells Fargo & Company upped 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.

OFG Bancorp Price Performance

Shares of OFG Bancorp stock opened at $39.66 on Friday. The company has a fifty day moving average of $42.31 and a 200-day moving average of $43.09. OFG Bancorp has a 52-week low of $33.19 and a 52-week high of $47.66. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 9.40 and a beta of 0.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.85.

OFG Bancorp (NYSE:OFG) last released its quarterly 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 previous year, the company earned $0.98 EPS. Equities research analysts expect that OFG Bancorp will post 4.18 EPS for the current year.

OFG Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued 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 dividend on an annualized basis and a dividend yield of 3.03%. OFG Bancorp’s dividend payout ratio (DPR) is presently 28.44%.

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.