Deutsche Bank AG Purchases 2,849 Shares of OFG Bancorp (NYSE:OFG)

Deutsche Bank AG grew its stake in OFG Bancorp (NYSE:OFGFree Report) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 364,442 shares of the bank’s stock after acquiring an additional 2,849 shares during the quarter. Deutsche Bank AG owned 0.77% of OFG Bancorp worth $10,882,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OFG. Charles Schwab Investment Management Inc. increased its position in OFG Bancorp by 139.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,207,708 shares of the bank’s stock worth $30,120,000 after buying an additional 703,543 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of OFG Bancorp by 236.5% in the 1st quarter. First Trust Advisors LP now owns 529,418 shares of the bank’s stock worth $13,204,000 after purchasing an additional 372,086 shares during the period. Millennium Management LLC boosted its holdings in shares of OFG Bancorp by 54.4% in the 4th quarter. Millennium Management LLC now owns 868,246 shares of the bank’s stock worth $23,929,000 after purchasing an additional 306,065 shares during the period. BlackRock Inc. boosted its holdings in OFG Bancorp by 4.1% during the 1st quarter. BlackRock Inc. now owns 7,044,536 shares of the bank’s stock valued at $175,691,000 after acquiring an additional 279,724 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in OFG Bancorp by 1,956.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 178,726 shares of the bank’s stock valued at $38,000 after acquiring an additional 170,034 shares during the period. 91.61% of the stock is owned by institutional investors.

OFG Bancorp Price Performance

Shares of OFG opened at $36.13 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.17. OFG Bancorp has a twelve month low of $22.34 and a twelve month high of $39.04. The firm has a market capitalization of $1.70 billion, a PE ratio of 9.46 and a beta of 1.08. The stock’s 50 day moving average is $36.21 and its two-hundred day moving average is $33.83.

OFG Bancorp (NYSE:OFGGet Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The bank reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. The company had revenue of $208.26 million during the quarter, compared to analysts’ expectations of $172.50 million. OFG Bancorp had a net margin of 23.62% and a return on equity of 16.25%. During the same period in the prior year, the company posted $0.97 EPS. Research analysts anticipate that OFG Bancorp will post 3.73 earnings per share for the current year.

OFG Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.25 per share. This is an increase from OFG Bancorp’s previous quarterly dividend of $0.22. The ex-dividend date is Wednesday, March 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.77%. OFG Bancorp’s payout ratio is presently 23.04%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company boosted their price target on OFG Bancorp from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, January 29th.

View Our Latest Stock Report on OFG Bancorp

OFG Bancorp Profile

(Free Report)

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.

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Institutional Ownership by Quarter for OFG Bancorp (NYSE:OFG)

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