KLP Kapitalforvaltning AS Purchases Shares of 10,100 OFG Bancorp (NYSE:OFG)

KLP Kapitalforvaltning AS acquired a new stake in shares of OFG Bancorp (NYSE:OFG) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 10,100 shares of the bank’s stock, valued at approximately $430,000.

A number of other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its stake in OFG Bancorp by 8.1% during the third quarter. FMR LLC now owns 205,745 shares of the bank’s stock valued at $9,242,000 after buying an additional 15,498 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of OFG Bancorp by 109.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 35,302 shares of the bank’s stock valued at $1,586,000 after acquiring an additional 18,425 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of OFG Bancorp by 56.7% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,559 shares of the bank’s stock valued at $115,000 after acquiring an additional 926 shares during the last quarter. Paloma Partners Management Co purchased a new position in shares of OFG Bancorp in the third quarter valued at $234,000. Finally, Centiva Capital LP increased its position in OFG Bancorp by 12.9% in the third quarter. Centiva Capital LP now owns 14,592 shares of the bank’s stock worth $655,000 after purchasing an additional 1,665 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

OFG Bancorp Stock Down 4.7 %

Shares of OFG opened at $34.96 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average of $41.36 and a 200 day moving average of $42.56. The company has a market cap of $1.59 billion, a PE ratio of 8.28 and a beta of 0.74. OFG Bancorp has a 52-week low of $33.19 and a 52-week high of $47.66.

OFG Bancorp (NYSE:OFG) last released 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 last year, the firm posted $0.98 earnings per share. On average, sell-side analysts expect that OFG Bancorp will post 4.18 EPS for the current 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 issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.43%. This is an increase from OFG Bancorp’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. OFG Bancorp’s dividend payout ratio is presently 28.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods lifted their price objective 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 lifted their price target on OFG Bancorp from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd.

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.