Voya Investment Management LLC Purchases 16,134 Shares of OFG Bancorp $OFG

Voya Investment Management LLC lifted its position in shares of OFG Bancorp (NYSE:OFG) by 40.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,240 shares of the bank’s stock after acquiring an additional 16,134 shares during the period. Voya Investment Management LLC owned approximately 0.13% of OFG Bancorp worth $2,251,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of OFG Bancorp by 2.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,688,184 shares of the bank’s stock valued at $67,561,000 after acquiring an additional 35,960 shares in the last quarter. American Century Companies Inc. increased its position in shares of OFG Bancorp by 8.8% during the first quarter. American Century Companies Inc. now owns 1,270,604 shares of the bank’s stock valued at $50,850,000 after acquiring an additional 102,755 shares in the last quarter. Nuveen LLC bought a new stake in OFG Bancorp in the 1st quarter worth approximately $44,749,000. Millennium Management LLC grew its position in OFG Bancorp by 73.1% in the 1st quarter. Millennium Management LLC now owns 534,039 shares of the bank’s stock worth $21,372,000 after purchasing an additional 225,472 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in OFG Bancorp by 10.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 491,909 shares of the bank’s stock worth $19,686,000 after purchasing an additional 45,045 shares during the period. Institutional investors own 92.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on OFG shares. Keefe, Bruyette & Woods lifted their target price on shares of OFG Bancorp from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, July 18th. Wall Street Zen raised shares of OFG Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, July 20th. Finally, Wells Fargo & Company lifted their target price on shares of OFG Bancorp from $42.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, OFG Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $47.50.

OFG Bancorp Trading Down 1.3%

Shares of OFG Bancorp stock opened at $44.27 on Monday. The company has a market capitalization of $1.97 billion, a P/E ratio of 10.44 and a beta of 0.81. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.87 and a current ratio of 0.87. The company has a fifty day moving average of $43.72 and a 200 day moving average of $41.58. OFG Bancorp has a fifty-two week low of $33.15 and a fifty-two week high of $47.66.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings results on Thursday, July 17th. The bank reported $1.15 EPS for the quarter, topping the consensus estimate of $1.05 by $0.10. The business had revenue of $182.20 million for the quarter, compared to analysts’ expectations of $181.50 million. OFG Bancorp had a net margin of 22.06% and a return on equity of 14.97%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.08 EPS. On average, sell-side analysts anticipate that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $0.30 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.20 annualized dividend and a yield of 2.7%. OFG Bancorp’s payout ratio is presently 28.30%.

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.