Integrated Quantitative Investments LLC Takes Position in OFG Bancorp (NYSE:OFG)

Integrated Quantitative Investments LLC bought a new position in shares of OFG Bancorp (NYSE:OFG) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,600 shares of the bank’s stock, valued at approximately $237,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in 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 worth $34,000 after acquiring an additional 263 shares during the period. R Squared Ltd acquired a new position in shares of OFG Bancorp in the 4th quarter worth approximately $44,000. Smartleaf Asset Management LLC boosted its stake in OFG Bancorp by 196.5% in 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 in the last quarter. Meeder Asset Management Inc. bought a new stake in OFG Bancorp in the fourth quarter valued at $44,000. Finally, Blue Trust Inc. raised its stake in OFG Bancorp by 84.8% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the bank’s stock worth $93,000 after acquiring an additional 946 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors.

OFG Bancorp Stock Down 4.7 %

Shares of OFG opened at $34.96 on Friday. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 8.28 and a beta of 0.74. 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 business’s fifty day moving average price is $41.36 and its two-hundred day moving average price is $42.55.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.09 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the firm earned $0.98 EPS. On average, analysts predict that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on OFG shares. Keefe, Bruyette & Woods increased their target price 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 boosted their target price on OFG Bancorp from $45.00 to $48.00 and gave the stock an “overweight” rating in a report 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.