Natixis Advisors LLC lowered its stake in shares of OFG Bancorp (NYSE:OFG – Free Report) by 3.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 28,087 shares of the bank’s stock after selling 891 shares during the period. Natixis Advisors LLC’s holdings in OFG Bancorp were worth $1,124,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new position in OFG Bancorp during the fourth quarter valued at about $172,000. Bridgefront Capital LLC bought a new position in OFG Bancorp during the fourth quarter valued at about $221,000. Bank of Montreal Can boosted its position in OFG Bancorp by 9.0% during the fourth quarter. Bank of Montreal Can now owns 5,295 shares of the bank’s stock worth $224,000 after purchasing an additional 438 shares during the period. Oxford Asset Management LLP bought a new position in OFG Bancorp during the fourth quarter worth about $225,000. Finally, Caxton Associates LP bought a new position in OFG Bancorp during the fourth quarter worth about $225,000. Institutional investors own 92.73% of the company’s stock.
Analyst Upgrades and Downgrades
OFG has been the subject of a number of research reports. Hovde Group cut their target price on shares of OFG Bancorp from $53.50 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Piper Sandler cut their target price on shares of OFG Bancorp from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Keefe, Bruyette & Woods increased 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. Wells Fargo & Company increased 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. Finally, Wall Street Zen upgraded shares of OFG Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, July 20th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.50.
OFG Bancorp Trading Down 0.3%
Shares of OFG Bancorp stock opened at $41.73 on Friday. OFG Bancorp has a 12-month low of $33.15 and a 12-month high of $47.66. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 9.84 and a beta of 0.77. The company has a current ratio of 0.87, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34. The company’s 50-day moving average price is $42.86 and its 200-day moving average price is $41.28.
OFG Bancorp (NYSE:OFG – Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The bank reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.10. OFG Bancorp had a net margin of 22.06% and a return on equity of 14.97%. The firm had revenue of $182.20 million for the quarter, compared to the consensus estimate of $181.50 million. During the same period in the prior year, the firm posted $1.08 earnings per share. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities analysts expect that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.
OFG Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 30th. OFG Bancorp’s dividend payout ratio (DPR) is currently 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.
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