Cerity Partners LLC Raises Stake in OFG Bancorp (NYSE:OFG)

Cerity Partners LLC boosted its holdings in OFG Bancorp (NYSE:OFG) by 98.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,602 shares of the bank’s stock after buying an additional 4,772 shares during the period. Cerity Partners LLC’s holdings in OFG Bancorp were worth $411,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OFG. GAMMA Investing LLC lifted its position in OFG Bancorp by 48.9% during the 4th quarter. GAMMA Investing LLC now owns 801 shares of the bank’s stock worth $34,000 after acquiring an additional 263 shares in the last quarter. R Squared Ltd acquired a new position in shares of OFG Bancorp during the fourth quarter worth $44,000. Smartleaf Asset Management LLC boosted its stake in shares of OFG Bancorp by 196.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank’s stock valued at $44,000 after purchasing an additional 680 shares during the period. Meeder Asset Management Inc. acquired a new stake in OFG Bancorp during the 4th quarter valued at $44,000. Finally, Blue Trust Inc. increased its stake in OFG Bancorp by 84.8% during the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the bank’s stock worth $93,000 after buying an additional 946 shares during the period. 92.73% of the stock is owned by institutional investors and hedge funds.

OFG Bancorp Price Performance

OFG opened at $36.22 on Wednesday. The company has a market capitalization of $1.65 billion, a P/E ratio of 8.58 and a beta of 0.74. The company has a 50-day moving average of $39.19 and a 200-day moving average of $41.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.85. OFG Bancorp has a 1-year low of $33.15 and a 1-year high of $47.66.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.12. OFG Bancorp had a return on equity of 15.80% and a net margin of 22.71%. During the same period last year, the company earned $0.98 earnings per share. Equities analysts expect that OFG Bancorp will post 4.18 EPS for the current fiscal year.

OFG Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Monday, March 31st. This is an increase from OFG Bancorp’s previous quarterly dividend of $0.25. OFG Bancorp’s dividend payout ratio is currently 28.44%.

Analysts Set New Price Targets

OFG has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of OFG Bancorp from $53.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Wells Fargo & Company lowered OFG Bancorp from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $48.00 to $42.00 in a research note on Wednesday, April 9th.

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.