Gallacher Capital Management LLC Has $364,000 Stock Position in OFG Bancorp (NYSE:OFG)

Gallacher Capital Management LLC reduced its position in shares of OFG Bancorp (NYSE:OFG) by 15.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,597 shares of the bank’s stock after selling 1,586 shares during the period. Gallacher Capital Management LLC’s holdings in OFG Bancorp were worth $364,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in OFG. GAMMA Investing LLC raised 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 purchasing an additional 263 shares in the last quarter. R Squared Ltd acquired a new position in OFG Bancorp during the fourth quarter valued at approximately $44,000. Smartleaf Asset Management LLC raised its position in OFG Bancorp by 196.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank’s stock valued at $44,000 after purchasing an additional 680 shares in the last quarter. Blue Trust Inc. grew its stake 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 worth $93,000 after buying an additional 946 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of OFG Bancorp by 736.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,385 shares of the bank’s stock worth $101,000 after buying an additional 2,100 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

OFG Bancorp Stock Performance

Shares of OFG Bancorp stock opened at $40.60 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. OFG Bancorp has a twelve month low of $33.19 and a twelve month high of $47.66. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 9.62 and a beta of 0.96. The company’s fifty day moving average is $42.23 and its 200 day moving average is $43.02.

OFG Bancorp (NYSE:OFG) last issued its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.09 earnings per share for the quarter, topping 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 period in the previous year, the business earned $0.98 EPS. Sell-side analysts forecast that OFG Bancorp will post 4.18 EPS for the current year.

OFG Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.30 dividend. 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 annualized dividend and a dividend yield of 2.96%. OFG Bancorp’s payout ratio is currently 28.44%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of OFG Bancorp from $53.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Wells Fargo & Company boosted their target price on shares of OFG Bancorp from $45.00 to $48.00 and gave the stock an “overweight” 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.