TD Waterhouse Canada Inc. Purchases 369 Shares of OFG Bancorp (NYSE:OFG)

TD Waterhouse Canada Inc. boosted its holdings in shares of OFG Bancorp (NYSE:OFG) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,041 shares of the bank’s stock after acquiring an additional 369 shares during the period. TD Waterhouse Canada Inc.’s holdings in OFG Bancorp were worth $890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of OFG Bancorp by 48.9% during the fourth quarter. GAMMA Investing LLC now owns 801 shares of the bank’s stock valued at $34,000 after purchasing an additional 263 shares in the last quarter. R Squared Ltd bought a new stake in OFG Bancorp during the 4th quarter valued at $44,000. Smartleaf Asset Management LLC increased its holdings in shares of OFG Bancorp by 196.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank’s stock valued at $44,000 after acquiring an additional 680 shares during the period. Meeder Asset Management Inc. bought a new position in shares of OFG Bancorp in the 4th quarter worth $44,000. Finally, Blue Trust Inc. raised its position in shares of OFG Bancorp by 84.8% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the bank’s stock worth $93,000 after acquiring an additional 946 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Hovde Group cut their target price on OFG Bancorp from $53.50 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday. Keefe, Bruyette & Woods reduced their price objective on shares of OFG Bancorp from $53.00 to $48.00 and set an “outperform” rating for the company in a research note on Thursday. Wells Fargo & Company cut shares of OFG Bancorp from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $48.00 to $42.00 in a research report on Wednesday, April 9th. Finally, Piper Sandler cut their price target on shares of OFG Bancorp from $44.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday.

OFG Bancorp Stock Performance

Shares of OFG Bancorp stock opened at $37.79 on Friday. The company has a 50 day moving average price of $39.01 and a 200 day moving average price of $41.67. The firm has a market capitalization of $1.72 billion, a P/E ratio of 8.95 and a beta of 0.74. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. OFG Bancorp has a 52 week low of $33.15 and a 52 week high of $47.66.

OFG Bancorp (NYSE:OFG) last posted its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.02). OFG Bancorp had a return on equity of 15.80% and a net margin of 22.71%. The company had revenue of $178.30 million during the quarter, compared to analysts’ expectations of $175.35 million. Sell-side analysts expect that OFG Bancorp will post 4.18 EPS for the current year.

OFG Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a yield of 3.18%. This is a boost from OFG Bancorp’s previous quarterly dividend of $0.25. OFG Bancorp’s payout ratio is currently 28.44%.

OFG Bancorp Company 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.