JPMorgan Chase & Co. Acquires 42,335 Shares of OFG Bancorp (NYSE:OFG)

JPMorgan Chase & Co. increased its stake in shares of OFG Bancorp (NYSE:OFG) by 5.0% in the fourth quarter, Holdings Channel reports. The firm owned 894,049 shares of the bank’s stock after buying an additional 42,335 shares during the quarter. JPMorgan Chase & Co.’s holdings in OFG Bancorp were worth $37,836,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of OFG Bancorp by 48.9% during the 4th quarter. GAMMA Investing LLC now owns 801 shares of the bank’s stock worth $34,000 after buying an additional 263 shares during the period. 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 valued at $44,000 after purchasing an additional 680 shares during the period. R Squared Ltd acquired a new stake in OFG Bancorp in the fourth quarter worth $44,000. Blue Trust Inc. boosted its position 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 in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of OFG Bancorp by 736.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,385 shares of the bank’s stock valued at $101,000 after buying an additional 2,100 shares during the period. Institutional investors own 92.73% of the company’s stock.

OFG Bancorp Stock Performance

Shares of NYSE OFG opened at $34.96 on Monday. OFG Bancorp has a 12 month low of $33.19 and a 12 month high of $47.66. The company has a market capitalization of $1.59 billion, a P/E ratio of 8.28 and a beta of 0.74. The stock has a 50 day moving average of $41.36 and a 200-day moving average of $42.53. 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 (NYSE:OFG) last issued its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.09 EPS for the quarter, beating analysts’ consensus estimates 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 period last year, the business posted $0.98 EPS. As a group, equities research analysts predict 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 represents a $1.20 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Monday, March 31st. This is an increase from OFG Bancorp’s previous quarterly dividend of $0.25. OFG Bancorp’s dividend payout ratio (DPR) is currently 28.44%.

Analyst Ratings Changes

OFG has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lifted their price objective on OFG Bancorp from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Wells Fargo & Company boosted their price target on OFG Bancorp from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd.

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.