Amalgamated Bank Sells 285 Shares of OFG Bancorp (NYSE:OFG)

Amalgamated Bank lowered its position in shares of OFG Bancorp (NYSE:OFG) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,381 shares of the bank’s stock after selling 285 shares during the quarter. Amalgamated Bank’s holdings in OFG Bancorp were worth $566,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in OFG. GAMMA Investing LLC raised its position in shares of OFG Bancorp by 48.9% during the fourth quarter. GAMMA Investing LLC now owns 801 shares of the bank’s stock worth $34,000 after acquiring an additional 263 shares during the last quarter. R Squared Ltd acquired a new stake in shares of OFG Bancorp during the fourth quarter worth $44,000. Farther Finance Advisors LLC grew its stake in shares of OFG Bancorp by 4,014.6% during the third quarter. Farther Finance Advisors LLC now owns 1,975 shares of the bank’s stock worth $89,000 after purchasing an additional 1,927 shares during the period. Blue Trust Inc. grew its stake in shares of OFG Bancorp by 84.8% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the bank’s stock worth $93,000 after purchasing an additional 946 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of OFG Bancorp by 736.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,385 shares of the bank’s stock worth $101,000 after purchasing an additional 2,100 shares during the period. Institutional investors own 92.73% of the company’s stock.

Wall Street Analysts Forecast Growth

OFG has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lifted their price objective on 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 objective on OFG Bancorp from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd.

OFG Bancorp Stock Down 2.7 %

NYSE:OFG opened at $40.95 on Wednesday. OFG Bancorp has a 1 year low of $33.19 and a 1 year high of $47.66. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 9.70 and a beta of 1.00. The stock has a 50-day moving average price of $42.65 and a two-hundred day moving average price of $43.23.

OFG Bancorp (NYSE:OFG) last posted its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.09 earnings per share 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 previous year, the company earned $0.98 earnings per share. As a group, equities analysts expect that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.93%. The ex-dividend date is Monday, March 31st. This is a positive change from OFG Bancorp’s previous quarterly dividend of $0.25. OFG Bancorp’s dividend 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.