Knights of Columbus Asset Advisors LLC Sells 912 Shares of OFG Bancorp $OFG

Knights of Columbus Asset Advisors LLC decreased its holdings in OFG Bancorp (NYSE:OFG) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 52,121 shares of the bank’s stock after selling 912 shares during the quarter. Knights of Columbus Asset Advisors LLC owned 0.12% of OFG Bancorp worth $2,231,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its position in OFG Bancorp by 2.2% in the 1st 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 stake in OFG Bancorp by 8.8% in the 1st quarter. American Century Companies Inc. now owns 1,270,604 shares of the bank’s stock valued at $50,850,000 after buying an additional 102,755 shares during the last quarter. Nuveen LLC purchased a new stake in OFG Bancorp in the 1st quarter valued at about $44,749,000. Millennium Management LLC increased its stake in OFG Bancorp by 73.1% in the 1st quarter. Millennium Management LLC now owns 534,039 shares of the bank’s stock valued at $21,372,000 after buying an additional 225,472 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake 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 valued at $19,686,000 after buying an additional 45,045 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on OFG shares. Weiss Ratings reiterated a “buy (b)” rating on shares of OFG Bancorp in a research note on Saturday, September 27th. Keefe, Bruyette & Woods increased their price objective on shares of OFG Bancorp from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, July 18th. Wells Fargo & Company increased their price objective on shares of OFG Bancorp from $42.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Finally, Wall Street Zen upgraded shares of OFG Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, July 20th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.50.

OFG Bancorp Trading Up 1.1%

Shares of OFG stock opened at $43.12 on Tuesday. The company has a 50 day moving average of $43.60 and a 200-day moving average of $41.85. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.34. OFG Bancorp has a 12-month low of $33.15 and a 12-month high of $47.66. The firm has a market cap of $1.92 billion, a P/E ratio of 10.17 and a beta of 0.80.

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

OFG Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. OFG Bancorp’s dividend payout ratio (DPR) is presently 28.30%.

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.