Gator Capital Management LLC Has $8.57 Million Stock Holdings in OFG Bancorp (NYSE:OFG)

Gator Capital Management LLC trimmed its holdings in shares of OFG Bancorp (NYSE:OFG) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,430 shares of the bank’s stock after selling 345 shares during the quarter. OFG Bancorp accounts for about 3.2% of Gator Capital Management LLC’s portfolio, making the stock its 11th largest position. Gator Capital Management LLC owned 0.44% of OFG Bancorp worth $8,567,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. State Street Corp increased its holdings in OFG Bancorp by 0.9% in the third quarter. State Street Corp now owns 2,177,560 shares of the bank’s stock valued at $98,354,000 after purchasing an additional 19,372 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of OFG Bancorp by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,652,224 shares of the bank’s stock valued at $69,922,000 after buying an additional 14,618 shares during the period. American Century Companies Inc. raised its position in shares of OFG Bancorp by 8.3% during the fourth quarter. American Century Companies Inc. now owns 1,167,849 shares of the bank’s stock worth $49,423,000 after acquiring an additional 89,450 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of OFG Bancorp by 0.4% in the third quarter. Geode Capital Management LLC now owns 1,080,937 shares of the bank’s stock worth $48,565,000 after acquiring an additional 4,398 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in OFG Bancorp by 5.0% in the fourth quarter. JPMorgan Chase & Co. now owns 894,049 shares of the bank’s stock valued at $37,836,000 after acquiring an additional 42,335 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on OFG shares. Wells Fargo & Company boosted their price target on shares of OFG Bancorp from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods lifted their target price on shares of OFG Bancorp from $53.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd.

OFG Bancorp Trading Down 4.7 %

NYSE OFG opened at $34.96 on Friday. OFG Bancorp has a one year low of $33.19 and a one year high of $47.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.85 and a quick ratio of 0.86. The business has a 50 day simple moving average of $41.36 and a 200 day simple moving average of $42.55. The stock has a market capitalization of $1.59 billion, a P/E ratio of 8.28 and a beta of 0.74.

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

OFG Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Monday, March 31st. This is a boost from OFG Bancorp’s previous quarterly dividend of $0.25. OFG Bancorp’s dividend payout ratio is 28.44%.

About OFG Bancorp

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.