Federated Hermes Inc. Has $5.37 Million Stock Holdings in OFG Bancorp (NYSE:OFG)

Federated Hermes Inc. increased its position in shares of OFG Bancorp (NYSE:OFG) by 13.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,271 shares of the bank’s stock after purchasing an additional 17,384 shares during the quarter. Federated Hermes Inc.’s holdings in OFG Bancorp were worth $5,370,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners increased its holdings in shares of OFG Bancorp by 138.5% in the third quarter. Boston Partners now owns 29,518 shares of the bank’s stock valued at $881,000 after purchasing an additional 17,141 shares in the last quarter. Deutsche Bank AG raised its holdings in OFG Bancorp by 0.8% during the 3rd quarter. Deutsche Bank AG now owns 364,442 shares of the bank’s stock worth $10,882,000 after buying an additional 2,849 shares during the period. Affinity Investment Advisors LLC acquired a new stake in shares of OFG Bancorp during the third quarter worth $695,000. Panagora Asset Management Inc. bought a new stake in shares of OFG Bancorp in the third quarter valued at about $4,205,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in OFG Bancorp by 6.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,920 shares of the bank’s stock valued at $774,000 after acquiring an additional 1,477 shares in the last quarter. 92.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

OFG Bancorp Price Performance

Shares of NYSE OFG opened at $36.46 on Friday. OFG Bancorp has a twelve month low of $22.34 and a twelve month high of $39.04. The company has a market cap of $1.72 billion, a PE ratio of 9.32 and a beta of 1.09. The business’s 50 day moving average price is $35.76 and its two-hundred day moving average price is $34.86. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 0.17.

OFG Bancorp (NYSE:OFG) last announced its earnings results on Thursday, April 18th. The bank reported $1.05 EPS for the quarter, topping the consensus estimate of $0.95 by $0.10. OFG Bancorp had a net margin of 23.00% and a return on equity of 16.10%. The business had revenue of $213.49 million during the quarter, compared to the consensus estimate of $175.20 million. During the same quarter in the previous year, the firm posted $0.96 EPS. On average, analysts predict that OFG Bancorp will post 4.02 EPS for the current year.

OFG Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from OFG Bancorp’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a dividend yield of 2.74%. OFG Bancorp’s dividend payout ratio is 25.58%.

Insiders Place Their Bets

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 shares were sold at an average price of $35.18, for a total transaction of $319,117.78. Following the completion of the sale, the insider now owns 144,502 shares of the company’s stock, valued at approximately $5,083,580.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 34,536 shares of company stock worth $1,238,317 in the last quarter. Corporate insiders own 3.11% 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.