OFG Bancorp (NYSE:OFG) Shares Acquired by Bank of Montreal Can

Bank of Montreal Can increased its holdings in shares of OFG Bancorp (NYSE:OFG) by 9.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,295 shares of the bank’s stock after acquiring an additional 438 shares during the period. Bank of Montreal Can’s holdings in OFG Bancorp were worth $224,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of OFG. Barclays PLC grew its stake in shares of OFG Bancorp by 83.6% during the 3rd quarter. Barclays PLC now owns 96,045 shares of the bank’s stock worth $4,314,000 after purchasing an additional 43,738 shares during the period. GAMMA Investing LLC boosted its holdings in 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 buying an additional 263 shares in the last quarter. Diversified Trust Co grew its position in OFG Bancorp by 9.5% during the fourth quarter. Diversified Trust Co now owns 15,399 shares of the bank’s stock worth $652,000 after buying an additional 1,330 shares during the period. Range Financial Group LLC purchased a new position in OFG Bancorp in the fourth quarter valued at about $1,795,000. Finally, Wedge Capital Management L L P NC increased its holdings in OFG Bancorp by 9.6% in the fourth quarter. Wedge Capital Management L L P NC now owns 21,959 shares of the bank’s stock valued at $929,000 after buying an additional 1,931 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on OFG. Hovde Group lowered their price target on OFG Bancorp from $53.50 to $50.00 and set an “outperform” rating on the stock in a report on Thursday. Wells Fargo & Company lowered OFG Bancorp from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $48.00 to $42.00 in a report on Wednesday, April 9th. Keefe, Bruyette & Woods dropped their price target on OFG Bancorp from $53.00 to $48.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Piper Sandler lowered their price objective on shares of OFG Bancorp from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday.

OFG Bancorp Stock Performance

NYSE OFG opened at $37.79 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. OFG Bancorp has a fifty-two week low of $33.15 and a fifty-two week high of $47.66. The business has a fifty day moving average of $39.01 and a 200-day moving average of $41.67. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 8.95 and a beta of 0.74.

OFG Bancorp (NYSE:OFG) last announced its earnings results on Wednesday, April 23rd. The bank reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.02). OFG Bancorp had a net margin of 22.71% and a return on equity of 15.80%. The firm had revenue of $178.30 million during the quarter, compared to analyst estimates of $175.35 million. As a group, analysts predict that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.30 per share. This is an increase from OFG Bancorp’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.20 annualized dividend and a dividend yield of 3.18%. 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.