First Trust Advisors LP Acquires 100,661 Shares of OFG Bancorp (NYSE:OFG)

First Trust Advisors LP increased its holdings in OFG Bancorp (NYSE:OFGFree Report) by 15.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 752,740 shares of the bank’s stock after buying an additional 100,661 shares during the quarter. First Trust Advisors LP owned about 1.60% of OFG Bancorp worth $28,213,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of OFG. Quantbot Technologies LP bought a new stake in shares of OFG Bancorp in the third quarter worth approximately $72,000. Vest Financial LLC bought a new stake in OFG Bancorp in the 4th quarter worth approximately $241,000. MQS Management LLC bought a new position in shares of OFG Bancorp during the 3rd quarter valued at $268,000. Gallacher Capital Management LLC purchased a new position in shares of OFG Bancorp in the 3rd quarter worth $362,000. Finally, Diversified Trust Co bought a new stake in shares of OFG Bancorp in the third quarter worth $374,000. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Read Our Latest Research Report on OFG Bancorp

OFG Bancorp Stock Down 1.3 %

Shares of OFG stock opened at $35.99 on Tuesday. The company has a 50 day simple moving average of $36.39 and a two-hundred day simple moving average of $36.25. The stock has a market cap of $1.69 billion, a P/E ratio of 9.20 and a beta of 1.08. OFG Bancorp has a 12 month low of $25.25 and a 12 month high of $39.04. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.17.

OFG Bancorp (NYSE:OFGGet Free Report) last posted its quarterly earnings data on Thursday, April 18th. The bank reported $1.05 EPS for the quarter, topping the consensus estimate of $0.95 by $0.10. The firm had revenue of $213.49 million during the quarter, compared to analyst estimates of $175.20 million. OFG Bancorp had a return on equity of 16.10% and a net margin of 23.00%. During the same period in the prior year, the business posted $0.96 EPS. On average, research analysts expect that OFG Bancorp will post 4.02 earnings per share for the current year.

OFG Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.78%. OFG Bancorp’s payout ratio is currently 25.58%.

Insider Activity

In related news, insider Ganesh Kumar sold 9,697 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $36.40, for a total value of $352,970.80. Following the completion of the sale, the insider now directly owns 134,805 shares of the company’s stock, valued at approximately $4,906,902. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 61,305 shares of company stock valued at $2,255,071 in the last ninety days. Corporate insiders own 2.16% of the company’s stock.

OFG Bancorp Profile

(Free Report)

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.

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Institutional Ownership by Quarter for OFG Bancorp (NYSE:OFG)

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