OFG Bancorp (NYSE:OFG) Position Increased by Lido Advisors LLC

Lido Advisors LLC raised its stake in OFG Bancorp (NYSE:OFG) by 36.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,166 shares of the bank’s stock after buying an additional 2,162 shares during the period. Lido Advisors LLC’s holdings in OFG Bancorp were worth $348,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of OFG. Empowered Funds LLC purchased a new stake in shares of OFG Bancorp in the 4th quarter valued at approximately $4,570,000. Foundry Partners LLC lifted its holdings in shares of OFG Bancorp by 76.5% in the fourth quarter. Foundry Partners LLC now owns 237,264 shares of the bank’s stock valued at $10,041,000 after purchasing an additional 102,841 shares in the last quarter. Tudor Investment Corp ET AL boosted its position in shares of OFG Bancorp by 139.1% in the fourth quarter. Tudor Investment Corp ET AL now owns 176,517 shares of the bank’s stock worth $7,470,000 after buying an additional 102,680 shares during the period. American Century Companies Inc. grew its holdings in shares of OFG Bancorp by 8.3% during the fourth quarter. American Century Companies Inc. now owns 1,167,849 shares of the bank’s stock valued at $49,423,000 after buying an additional 89,450 shares in the last quarter. Finally, Northern Trust Corp raised its position in OFG Bancorp by 8.0% during the fourth quarter. Northern Trust Corp now owns 650,844 shares of the bank’s stock valued at $27,544,000 after buying an additional 48,442 shares during the period. 92.73% of the stock is owned by institutional investors.

OFG Bancorp Stock Down 0.5 %

Shares of OFG Bancorp stock opened at $41.22 on Tuesday. The stock has a 50-day simple moving average of $38.77 and a 200-day simple moving average of $41.52. OFG Bancorp has a 52-week low of $33.15 and a 52-week high of $47.66. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 9.77 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.85 and a quick ratio of 0.86.

OFG Bancorp (NYSE:OFG) last posted its earnings results on Wednesday, April 23rd. The bank reported $1.00 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.02). The business had revenue of $178.30 million during the quarter, compared to the consensus estimate of $175.35 million. OFG Bancorp had a return on equity of 15.80% and a net margin of 22.71%. During the same period in the prior year, the firm earned $1.05 earnings per share. On average, equities research analysts expect that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.30 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.91%. OFG Bancorp’s dividend payout ratio is currently 28.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Piper Sandler decreased their price objective on OFG Bancorp from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Keefe, Bruyette & Woods lowered their price objective on shares of OFG Bancorp from $53.00 to $48.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company downgraded shares of OFG Bancorp from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $48.00 to $42.00 in a research report on Wednesday, April 9th. Finally, Hovde Group decreased their target price on shares of OFG Bancorp from $53.50 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th.

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.