Maryland State Retirement & Pension System Has $535,000 Stock Position in OFG Bancorp (NYSE:OFG)

Maryland State Retirement & Pension System lessened its stake in OFG Bancorp (NYSE:OFG) by 13.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,361 shares of the bank’s stock after selling 2,096 shares during the quarter. Maryland State Retirement & Pension System’s holdings in OFG Bancorp were worth $535,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in OFG. Wells Fargo & Company MN boosted its holdings in shares of OFG Bancorp by 14.1% in the 4th quarter. Wells Fargo & Company MN now owns 57,540 shares of the bank’s stock valued at $2,435,000 after buying an additional 7,106 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of OFG Bancorp by 98.8% in the 4th quarter. Cerity Partners LLC now owns 9,602 shares of the bank’s stock valued at $411,000 after buying an additional 4,772 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of OFG Bancorp by 9.0% in the 4th quarter. Bank of Montreal Can now owns 5,295 shares of the bank’s stock valued at $224,000 after buying an additional 438 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of OFG Bancorp by 61.8% in the 4th quarter. Renaissance Technologies LLC now owns 84,600 shares of the bank’s stock valued at $3,580,000 after buying an additional 32,300 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in shares of OFG Bancorp by 7.7% in the 4th quarter. Sterling Capital Management LLC now owns 18,122 shares of the bank’s stock valued at $767,000 after buying an additional 1,289 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

OFG Bancorp Stock Down 0.0%

OFG stock opened at $43.45 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 10.25 and a beta of 0.77. The business’s fifty day moving average price is $43.00 and its two-hundred day moving average price is $41.29. OFG Bancorp has a fifty-two week low of $33.15 and a fifty-two week high of $47.66.

OFG Bancorp (NYSE:OFG) last posted its quarterly earnings data 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. The firm had revenue of $182.20 million for the quarter, compared to analysts’ expectations of $181.50 million. OFG Bancorp had a return on equity of 14.97% and a net margin of 22.06%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.08 EPS. On average, equities analysts anticipate that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors 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 dividend on an annualized basis and a dividend yield of 2.8%. OFG Bancorp’s dividend payout ratio (DPR) is presently 28.30%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on OFG shares. Keefe, Bruyette & Woods increased their price objective on OFG Bancorp from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, July 18th. Wells Fargo & Company increased their price target on OFG Bancorp from $42.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Hovde Group dropped their price target on OFG Bancorp from $53.50 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Piper Sandler dropped their price target on OFG Bancorp from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Finally, Wall Street Zen upgraded OFG Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, July 20th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus 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.