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

Boston Partners lessened its holdings in OFG Bancorp (NYSE:OFG) by 46.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,938 shares of the bank’s stock after selling 16,732 shares during the quarter. Boston Partners’ holdings in OFG Bancorp were worth $801,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its position in OFG Bancorp by 6.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 137,103 shares of the bank’s stock valued at $5,802,000 after purchasing an additional 8,589 shares during the period. Picton Mahoney Asset Management increased its position in OFG Bancorp by 54.2% during the 4th quarter. Picton Mahoney Asset Management now owns 13,820 shares of the bank’s stock valued at $585,000 after purchasing an additional 4,857 shares during the period. Vestcor Inc acquired a new stake in OFG Bancorp during the 4th quarter valued at approximately $107,000. Amundi increased its position in OFG Bancorp by 186.4% during the 4th quarter. Amundi now owns 23,479 shares of the bank’s stock valued at $987,000 after purchasing an additional 15,282 shares during the period. Finally, Victory Capital Management Inc. increased its position in OFG Bancorp by 21.0% during the 4th quarter. Victory Capital Management Inc. now owns 204,971 shares of the bank’s stock valued at $8,674,000 after purchasing an additional 35,561 shares during the period. Institutional investors and hedge funds own 92.73% of the company’s stock.

OFG Bancorp Stock Performance

Shares of OFG stock opened at $40.25 on Friday. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 9.54 and a beta of 0.96. OFG Bancorp has a 52 week low of $33.19 and a 52 week high of $47.66. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average of $42.12 and a 200-day moving average of $42.84.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings data 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 quarter in the prior year, the business posted $0.98 earnings per share. On average, equities analysts forecast that OFG Bancorp will post 4.18 earnings per share for the current 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 issued a $0.30 dividend. This is a boost from OFG Bancorp’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Monday, March 31st. OFG Bancorp’s dividend payout ratio (DPR) is currently 28.44%.

Wall Street Analysts Forecast Growth

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