OFG Bancorp (NYSE:OFG) Stock Position Reduced by Wellington Management Group LLP

Wellington Management Group LLP decreased its stake in OFG Bancorp (NYSE:OFG) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 760,850 shares of the bank’s stock after selling 8,877 shares during the quarter. Wellington Management Group LLP’s holdings in OFG Bancorp were worth $32,199,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OFG. FMR LLC raised its holdings in shares of OFG Bancorp by 8.1% during the third quarter. FMR LLC now owns 205,745 shares of the bank’s stock worth $9,242,000 after acquiring an additional 15,498 shares in the last quarter. BNP Paribas Financial Markets raised its stake 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 worth $1,586,000 after purchasing an additional 18,425 shares in the last quarter. State Street Corp lifted its holdings in shares of OFG Bancorp by 0.9% during the 3rd quarter. State Street Corp now owns 2,177,560 shares of the bank’s stock valued at $98,354,000 after buying an additional 19,372 shares during the last quarter. Jane Street Group LLC grew its stake in shares of OFG Bancorp by 32.1% in the 3rd quarter. Jane Street Group LLC now owns 82,203 shares of the bank’s stock valued at $3,693,000 after buying an additional 19,963 shares in the last quarter. Finally, XTX Topco Ltd increased its holdings in OFG Bancorp by 5.2% in the third quarter. XTX Topco Ltd now owns 8,387 shares of the bank’s stock worth $377,000 after buying an additional 413 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on OFG. Wells Fargo & Company lifted their target price on shares of OFG Bancorp from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods upped their price objective on shares of OFG Bancorp from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd.

OFG Bancorp Trading Down 4.7 %

Shares of OFG stock opened at $34.96 on Monday. The business’s 50 day moving average is $41.36 and its two-hundred day moving average is $42.53. 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 12 month low of $33.19 and a 12 month high of $47.66. The company has a market cap of $1.59 billion, a PE ratio of 8.28 and a beta of 0.74.

OFG Bancorp (NYSE:OFG) last announced its earnings results on Wednesday, January 22nd. The bank reported $1.09 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 in the prior year, the firm posted $0.98 EPS. Equities 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. The ex-dividend date is Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a yield of 3.43%. This is a positive change from OFG Bancorp’s previous quarterly dividend of $0.25. OFG Bancorp’s dividend payout ratio (DPR) is 28.44%.

OFG Bancorp 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.