Boston Partners Sells 16,732 Shares of OFG Bancorp (NYSE:OFG)

Boston Partners cut its stake in shares of OFG Bancorp (NYSE:OFG) by 46.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 18,938 shares of the bank’s stock after selling 16,732 shares during the period. Boston Partners’ holdings in OFG Bancorp were worth $801,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Thrivent Financial for Lutherans raised its stake in shares of OFG Bancorp by 26.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 128,514 shares of the bank’s stock worth $5,773,000 after purchasing an additional 26,654 shares during the period. Intech Investment Management LLC raised its stake in shares of OFG Bancorp by 411.3% during the 3rd quarter. Intech Investment Management LLC now owns 64,391 shares of the bank’s stock worth $2,892,000 after purchasing an additional 51,798 shares during the period. Citigroup Inc. raised its stake in shares of OFG Bancorp by 7.9% during the 3rd quarter. Citigroup Inc. now owns 91,216 shares of the bank’s stock worth $4,097,000 after purchasing an additional 6,716 shares during the period. Algert Global LLC raised its stake in shares of OFG Bancorp by 3.2% during the 3rd quarter. Algert Global LLC now owns 166,804 shares of the bank’s stock worth $7,493,000 after purchasing an additional 5,120 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of OFG Bancorp during the 3rd quarter worth $915,000. 92.73% of the stock is currently owned by institutional investors.

OFG Bancorp Trading Up 0.1 %

Shares of OFG opened at $40.25 on Friday. The business has a 50-day moving average of $42.12 and a 200 day moving average of $42.84. OFG Bancorp has a fifty-two week low of $33.19 and a fifty-two week high of $47.66. The firm has a market cap of $1.83 billion, a P/E ratio of 9.54 and a beta of 0.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.85.

OFG Bancorp (NYSE:OFG) last posted its earnings results on Wednesday, January 22nd. The bank reported $1.09 earnings per share 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 quarter last year, the firm posted $0.98 earnings per share. As a group, research analysts forecast that OFG Bancorp will post 4.18 EPS for the current year.

OFG Bancorp Increases Dividend

The business 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 dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Monday, March 31st. This is a positive change from OFG Bancorp’s previous quarterly dividend of $0.25. OFG Bancorp’s payout ratio is presently 28.44%.

Analysts Set New Price Targets

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

About OFG Bancorp

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.