US Bancorp DE Purchases 4,780 Shares of OFG Bancorp (NYSE:OFG)

US Bancorp DE lifted its position in OFG Bancorp (NYSE:OFG) by 156.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 7,827 shares of the bank’s stock after acquiring an additional 4,780 shares during the period. US Bancorp DE’s holdings in OFG Bancorp were worth $313,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in OFG. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of OFG Bancorp in the fourth quarter worth approximately $7,289,000. Bridgeway Capital Management LLC bought a new position in shares of OFG Bancorp in the fourth quarter worth approximately $5,205,000. Tudor Investment Corp ET AL lifted its stake in shares of OFG Bancorp by 139.1% in the fourth quarter. Tudor Investment Corp ET AL now owns 176,517 shares of the bank’s stock worth $7,470,000 after buying an additional 102,680 shares in the last quarter. Voloridge Investment Management LLC lifted its stake in shares of OFG Bancorp by 138.8% in the fourth quarter. Voloridge Investment Management LLC now owns 149,709 shares of the bank’s stock worth $6,336,000 after buying an additional 87,024 shares in the last quarter. Finally, Vest Financial LLC bought a new position in shares of OFG Bancorp in the first quarter worth approximately $3,093,000. Institutional investors own 92.73% of the company’s stock.

OFG Bancorp Stock Up 1.2%

Shares of OFG Bancorp stock opened at $43.64 on Thursday. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 10.29 and a beta of 0.77. The company’s 50 day moving average is $42.95 and its 200 day moving average is $41.28. OFG Bancorp has a twelve month low of $33.15 and a twelve month high of $47.66. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.34.

OFG Bancorp (NYSE:OFG) last released its quarterly earnings results on Thursday, July 17th. The bank reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.10. OFG Bancorp had a net margin of 22.06% and a return on equity of 14.97%. The business had revenue of $182.20 million for the quarter, compared to the consensus estimate of $181.50 million. During the same period last year, the firm earned $1.08 earnings per share. The company’s quarterly revenue was up 1.6% on a year-over-year basis. Research analysts anticipate that OFG Bancorp will post 4.18 EPS for the current year.

OFG Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.30 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.20 annualized dividend and a yield of 2.7%. OFG Bancorp’s dividend payout ratio (DPR) is presently 28.30%.

Analyst Ratings Changes

OFG has been the topic of several analyst reports. Keefe, Bruyette & Woods upped their target price on shares of OFG Bancorp from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, July 18th. Wells Fargo & Company increased their price objective on shares of OFG Bancorp from $42.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. Wall Street Zen upgraded shares of OFG Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, July 20th. 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 report on Thursday, April 24th. Finally, Hovde Group lowered their price objective on shares of OFG Bancorp from $53.50 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.50.

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.