Amundi Raises Position in OFG Bancorp (NYSE:OFG)

Amundi increased its stake in OFG Bancorp (NYSE:OFG) by 186.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,479 shares of the bank’s stock after purchasing an additional 15,282 shares during the quarter. Amundi owned approximately 0.05% of OFG Bancorp worth $987,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of OFG Bancorp during the 3rd quarter valued at $984,000. Foundry Partners LLC bought a new stake in OFG Bancorp in the 3rd quarter valued at about $6,038,000. State Street Corp lifted its holdings in OFG Bancorp by 0.9% during the third quarter. State Street Corp now owns 2,177,560 shares of the bank’s stock valued at $98,354,000 after purchasing an additional 19,372 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in OFG Bancorp by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,652,224 shares of the bank’s stock worth $69,922,000 after purchasing an additional 14,618 shares during the period. Finally, KBC Group NV increased its stake in shares of OFG Bancorp by 39.7% in the fourth quarter. KBC Group NV now owns 2,620 shares of the bank’s stock worth $111,000 after purchasing an additional 745 shares in the last quarter. 92.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

OFG has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their price target 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. Wells Fargo & Company increased their target price on 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 Trading Down 0.1 %

Shares of OFG Bancorp stock opened at $40.58 on Thursday. The company’s 50-day moving average price is $42.16 and its 200-day moving average price is $42.92. 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 has a 12-month low of $33.19 and a 12-month high of $47.66. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 9.62 and a beta of 0.96.

OFG Bancorp (NYSE:OFG) last posted its earnings results 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 net margin of 22.71% and a return on equity of 15.80%. During the same period in the previous year, the firm posted $0.98 EPS. On average, equities 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.96%. This is a boost from OFG Bancorp’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 31st. OFG Bancorp’s payout ratio 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.