Mirae Asset Global Investments Co. Ltd. Has $1.04 Million Stake in OFG Bancorp (NYSE:OFG)

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of OFG Bancorp (NYSE:OFG) by 6.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,645 shares of the bank’s stock after buying an additional 1,725 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in OFG Bancorp were worth $1,036,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. BluePath Capital Management LLC acquired a new stake in shares of OFG Bancorp during the third quarter worth $32,000. Quantbot Technologies LP acquired a new stake in OFG Bancorp during the 3rd quarter worth about $72,000. Everence Capital Management Inc. bought a new position in shares of OFG Bancorp in the 3rd quarter worth about $216,000. Vest Financial LLC acquired a new position in shares of OFG Bancorp in the 4th quarter valued at about $241,000. Finally, MQS Management LLC bought a new stake in shares of OFG Bancorp during the 3rd quarter valued at about $268,000. Institutional investors own 92.73% of the company’s stock.

OFG Bancorp Stock Up 1.6 %

Shares of NYSE OFG opened at $36.26 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.71 billion, a PE ratio of 9.27 and a beta of 1.09. The company’s fifty day simple moving average is $35.75 and its 200 day simple moving average is $34.83. OFG Bancorp has a 12-month low of $22.34 and a 12-month high of $39.04.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings data on Thursday, April 18th. The bank reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.10. The firm had revenue of $213.49 million for the quarter, compared to analyst estimates of $175.20 million. OFG Bancorp had a net margin of 23.00% and a return on equity of 16.10%. During the same quarter in the prior year, the business earned $0.96 earnings per share. As a group, sell-side analysts forecast that OFG Bancorp will post 4.02 earnings per share for the current fiscal year.

OFG Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.00 annualized dividend and a yield of 2.76%. This is a positive change from OFG Bancorp’s previous quarterly dividend of $0.22. OFG Bancorp’s dividend payout ratio is presently 25.58%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company lowered their target price on OFG Bancorp from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th.

Insider Buying and Selling at OFG Bancorp

In other news, insider Ganesh Kumar sold 9,071 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $35.18, for a total transaction of $319,117.78. Following the transaction, the insider now directly owns 144,502 shares of the company’s stock, valued at $5,083,580.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 34,536 shares of company stock valued at $1,238,317. Company insiders own 2.16% of the company’s stock.

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.