Quantbot Technologies LP Has $1.24 Million Holdings in OFG Bancorp (NYSE:OFG)

Quantbot Technologies LP grew its stake in OFG Bancorp (NYSE:OFG) by 108.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,232 shares of the bank’s stock after purchasing an additional 15,200 shares during the period. Quantbot Technologies LP owned about 0.06% of OFG Bancorp worth $1,237,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in OFG Bancorp during the third quarter worth about $984,000. State Street Corp grew its holdings in shares of OFG Bancorp by 0.9% during the 3rd quarter. State Street Corp now owns 2,177,560 shares of the bank’s stock worth $98,354,000 after purchasing an additional 19,372 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of OFG Bancorp by 0.9% during 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 purchasing an additional 14,618 shares during the period. KBC Group NV raised its stake in shares of OFG Bancorp by 39.7% in the fourth quarter. KBC Group NV now owns 2,620 shares of the bank’s stock valued at $111,000 after purchasing an additional 745 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in OFG Bancorp by 48.9% in the fourth quarter. GAMMA Investing LLC now owns 801 shares of the bank’s stock worth $34,000 after purchasing an additional 263 shares during the period. Institutional investors own 92.73% of the company’s stock.

Analyst Ratings Changes

OFG has been the topic of several analyst reports. Wells Fargo & Company boosted their price target on shares of OFG Bancorp from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Keefe, Bruyette & Woods increased their price target on shares of OFG Bancorp from $53.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd.

OFG Bancorp Stock Performance

OFG Bancorp stock opened at $41.20 on Wednesday. The firm has a market capitalization of $1.87 billion, a P/E ratio of 9.76 and a beta of 0.96. The stock has a fifty day moving average price of $42.09 and a two-hundred day moving average price of $42.79. OFG Bancorp has a 52-week low of $33.19 and a 52-week 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.

OFG Bancorp (NYSE:OFG) last announced its earnings results on Wednesday, January 22nd. The bank reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 previous year, the company posted $0.98 earnings per share. As a group, analysts anticipate that OFG Bancorp will post 4.18 EPS for the current fiscal year.

OFG Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.30 dividend. This is an increase from OFG Bancorp’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Monday, March 31st. OFG Bancorp’s payout ratio is presently 28.44%.

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.