1620 Investment Advisors Inc. Sells 495 Shares of OFG Bancorp (NYSE:OFG)

1620 Investment Advisors Inc. trimmed its position in shares of OFG Bancorp (NYSE:OFG) by 20.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,909 shares of the bank’s stock after selling 495 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in OFG Bancorp were worth $81,000 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 OFG. GAMMA Investing LLC lifted its holdings in shares of OFG Bancorp by 48.9% during the 4th quarter. GAMMA Investing LLC now owns 801 shares of the bank’s stock valued at $34,000 after buying an additional 263 shares during the period. R Squared Ltd bought a new position in shares of OFG Bancorp during the 4th quarter valued at $44,000. Smartleaf Asset Management LLC lifted its holdings in shares of OFG Bancorp by 196.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank’s stock valued at $44,000 after buying an additional 680 shares during the period. Blue Trust Inc. lifted its holdings in shares of OFG Bancorp by 84.8% during the 4th 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 period. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of OFG Bancorp by 736.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,385 shares of the bank’s stock valued at $101,000 after buying an additional 2,100 shares during the period. 92.73% of the stock is owned by institutional investors.

OFG Bancorp Trading Up 0.1 %

Shares of OFG stock opened at $40.25 on Friday. 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 quick ratio of 0.86 and a current ratio of 0.85. The firm has a market capitalization of $1.83 billion, a PE ratio of 9.54 and a beta of 0.96. The stock has a fifty day simple moving average of $42.12 and a two-hundred day simple moving average of $42.86.

OFG Bancorp (NYSE:OFG) last issued its quarterly 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 return on equity of 15.80% and a net margin of 22.71%. During the same period last year, the firm posted $0.98 earnings per share. On average, analysts predict that OFG Bancorp will post 4.18 EPS for the current fiscal year.

OFG Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Monday, March 31st. This is a positive change from OFG Bancorp’s previous quarterly dividend of $0.25. OFG Bancorp’s dividend payout ratio is presently 28.44%.

Analysts Set New Price Targets

Several research firms have recently commented on OFG. Wells Fargo & Company upped their price objective on OFG Bancorp from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods upped their price objective on 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 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.