Barrow Hanley Mewhinney & Strauss LLC Cuts Holdings in OFG Bancorp (NYSE:OFG)

Barrow Hanley Mewhinney & Strauss LLC decreased its holdings in OFG Bancorp (NYSE:OFG) by 3.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,529,727 shares of the bank’s stock after selling 61,784 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC’s holdings in OFG Bancorp were worth $64,738,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of OFG Bancorp by 48.9% in the 4th quarter. GAMMA Investing LLC now owns 801 shares of the bank’s stock worth $34,000 after acquiring an additional 263 shares in the last quarter. R Squared Ltd purchased a new position in OFG Bancorp in the fourth quarter valued at about $44,000. Smartleaf Asset Management LLC grew its stake in OFG Bancorp by 196.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank’s stock valued at $44,000 after purchasing an additional 680 shares during the last quarter. Blue Trust Inc. raised its holdings in OFG Bancorp by 84.8% in the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the bank’s stock worth $93,000 after purchasing an additional 946 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of OFG Bancorp by 736.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,385 shares of the bank’s stock valued at $101,000 after buying an additional 2,100 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

OFG Bancorp Price Performance

Shares of OFG stock opened at $40.27 on Friday. OFG Bancorp has a fifty-two week low of $33.19 and a fifty-two week high of $47.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.85. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 9.54 and a beta of 0.96. The stock’s 50-day simple moving average is $41.92 and its 200-day simple moving average is $42.74.

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

OFG Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.30 dividend. This is a positive change from OFG Bancorp’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.98%. OFG Bancorp’s dividend payout ratio (DPR) is 28.44%.

Analysts Set New Price Targets

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