Russell Investments Group Ltd. Buys 4,353 Shares of OFG Bancorp (NYSE:OFG)

Russell Investments Group Ltd. grew its position in shares of OFG Bancorp (NYSE:OFGFree Report) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 259,232 shares of the bank’s stock after buying an additional 4,353 shares during the quarter. Russell Investments Group Ltd. owned 0.56% of OFG Bancorp worth $10,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC increased its position in OFG Bancorp by 48.9% during the fourth quarter. GAMMA Investing LLC now owns 801 shares of the bank’s stock valued at $34,000 after acquiring an additional 263 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of OFG Bancorp by 0.5% during the 4th quarter. Prudential Financial Inc. now owns 67,999 shares of the bank’s stock valued at $2,878,000 after purchasing an additional 370 shares during the period. XTX Topco Ltd increased its position in shares of OFG Bancorp by 5.2% during the 3rd quarter. XTX Topco Ltd now owns 8,387 shares of the bank’s stock valued at $377,000 after purchasing an additional 413 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of OFG Bancorp by 196.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank’s stock worth $44,000 after purchasing an additional 680 shares during the period. Finally, KBC Group NV boosted its holdings 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 worth $111,000 after buying an additional 745 shares during the last quarter. 92.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. 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. Wells Fargo & Company cut OFG Bancorp from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $48.00 to $42.00 in a report on Wednesday.

View Our Latest Report on OFG Bancorp

OFG Bancorp Price Performance

NYSE OFG opened at $34.89 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. OFG Bancorp has a 12 month low of $33.15 and a 12 month high of $47.66. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 8.27 and a beta of 0.74. The company’s 50 day moving average is $40.30 and its two-hundred day moving average is $42.12.

OFG Bancorp (NYSE:OFGGet Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.09 EPS for the quarter, beating 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 EPS. As a group, research analysts anticipate that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Increases Dividend

The firm 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 $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.44%. This is an increase from OFG Bancorp’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. OFG Bancorp’s payout ratio is presently 28.44%.

About OFG Bancorp

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for OFG Bancorp (NYSE:OFG)

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