X Square Capital LLC Boosts Stock Holdings in OFG Bancorp (NYSE:OFG)

X Square Capital LLC raised its holdings in shares of OFG Bancorp (NYSE:OFG) by 0.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,039 shares of the bank’s stock after purchasing an additional 306 shares during the period. OFG Bancorp accounts for about 2.5% of X Square Capital LLC’s holdings, making the stock its 4th largest holding. X Square Capital LLC owned about 0.31% of OFG Bancorp worth $6,053,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of OFG. GAMMA Investing LLC boosted its position in shares of OFG Bancorp by 48.9% in the 4th quarter. GAMMA Investing LLC now owns 801 shares of the bank’s stock worth $34,000 after purchasing an additional 263 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in OFG Bancorp by 196.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank’s stock worth $44,000 after buying an additional 680 shares during the last quarter. R Squared Ltd bought a new position in shares of OFG Bancorp in the fourth quarter worth approximately $44,000. Blue Trust Inc. grew its holdings in shares of OFG Bancorp by 84.8% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the bank’s stock valued at $93,000 after buying an additional 946 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in OFG Bancorp by 736.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,385 shares of the bank’s stock worth $101,000 after acquiring an additional 2,100 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on OFG. Keefe, Bruyette & Woods increased their target price on OFG Bancorp from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Wells Fargo & Company increased their price objective on OFG Bancorp from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd.

OFG Bancorp Stock Down 0.2 %

OFG opened at $40.99 on Friday. OFG Bancorp has a 1-year low of $33.19 and a 1-year high of $47.66. The firm’s 50 day simple moving average is $42.00 and its two-hundred day simple moving average is $42.76. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $1.86 billion, a PE ratio of 9.71 and a beta of 0.96.

OFG Bancorp (NYSE:OFG) last issued its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.12. OFG Bancorp had a return on equity of 15.80% and a net margin of 22.71%. During the same period in the previous year, the business earned $0.98 earnings per share. As a group, equities analysts forecast that OFG Bancorp will post 4.18 EPS for the current year.

OFG Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.30 per share. This is a boost from OFG Bancorp’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.93%. OFG Bancorp’s dividend payout ratio (DPR) is presently 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.