X Square Capital LLC Has $1.97 Million Stake in OFG Bancorp $OFG

X Square Capital LLC reduced its position in shares of OFG Bancorp (NYSE:OFG) by 70.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,952 shares of the bank’s stock after selling 114,007 shares during the period. X Square Capital LLC’s holdings in OFG Bancorp were worth $1,965,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of OFG. Quarry LP acquired a new position in OFG Bancorp during the third quarter valued at approximately $35,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of OFG Bancorp during the third quarter worth approximately $53,000. EverSource Wealth Advisors LLC increased its stake in shares of OFG Bancorp by 250.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,533 shares of the bank’s stock worth $66,000 after purchasing an additional 1,095 shares during the period. Raymond James Financial Inc. bought a new position in shares of OFG Bancorp during the second quarter worth approximately $97,000. Finally, Quantbot Technologies LP acquired a new stake in OFG Bancorp during the second quarter worth approximately $162,000. 92.73% of the stock is owned by institutional investors and hedge funds.

OFG Bancorp Price Performance

Shares of NYSE OFG opened at $46.35 on Tuesday. OFG Bancorp has a twelve month low of $35.71 and a twelve month high of $46.85. The stock’s 50 day moving average price is $44.13 and its 200-day moving average price is $41.93. The company has a market capitalization of $1.96 billion, a PE ratio of 9.58 and a beta of 0.70. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.33.

OFG Bancorp (NYSE:OFG) last posted its quarterly earnings results on Tuesday, March 31st. The bank reported $1.26 EPS for the quarter. OFG Bancorp had a net margin of 23.45% and a return on equity of 15.62%. The company had revenue of $185.80 million for the quarter. On average, equities analysts anticipate that OFG Bancorp will post 4.75 EPS for the current year.

OFG Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, June 30th. OFG Bancorp’s dividend payout ratio is presently 28.93%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on OFG shares. Truist Financial increased their price target on OFG Bancorp from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Piper Sandler reissued a “neutral” rating and set a $48.00 price objective (up from $43.00) on shares of OFG Bancorp in a report on Wednesday, April 22nd. Zacks Research raised OFG Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company raised their target price on OFG Bancorp from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $47.20.

About OFG Bancorp

OFG Bancorp, through its principal subsidiary Oriental Bank, is a financial holding company headquartered in San Juan, Puerto Rico. The company provides a wide range of banking services, including commercial and consumer deposit accounts, small business loans, corporate lending, treasury management, and cash management solutions. Its consumer offerings encompass personal checking and savings accounts, credit cards, and electronic banking platforms designed to serve retail customers across its markets.

In addition to traditional banking products, OFG Bancorp offers mortgage origination and servicing, as well as wealth management and trust services for high‐net‐worth individuals and institutional clients.