CenterBook Partners LP Purchases 50,508 Shares of OFG Bancorp $OFG

CenterBook Partners LP grew its position in shares of OFG Bancorp (NYSE:OFG) by 83.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 111,190 shares of the bank’s stock after buying an additional 50,508 shares during the quarter. CenterBook Partners LP’s holdings in OFG Bancorp were worth $4,557,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Penn Capital Management Company LLC lifted its position in shares of OFG Bancorp by 1.6% during the 3rd quarter. Penn Capital Management Company LLC now owns 18,870 shares of the bank’s stock worth $821,000 after buying an additional 303 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of OFG Bancorp by 1.2% during the 2nd quarter. California State Teachers Retirement System now owns 42,955 shares of the bank’s stock worth $1,838,000 after buying an additional 506 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of OFG Bancorp by 2.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,719 shares of the bank’s stock worth $1,069,000 after buying an additional 552 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of OFG Bancorp by 1.2% during the 3rd quarter. Alliancebernstein L.P. now owns 50,564 shares of the bank’s stock worth $2,199,000 after buying an additional 600 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of OFG Bancorp by 11.9% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,682 shares of the bank’s stock worth $233,000 after buying an additional 602 shares in the last quarter. Institutional investors own 92.73% of the company’s stock.

OFG Bancorp Trading Up 0.2%

NYSE:OFG opened at $46.35 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $1.96 billion, a PE ratio of 9.58 and a beta of 0.70. The firm’s 50 day moving average is $44.13 and its 200 day moving average is $41.93. OFG Bancorp has a 12 month low of $35.71 and a 12 month high of $46.85.

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

OFG Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 30th. OFG Bancorp’s payout ratio is 28.93%.

Analysts Set New Price Targets

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

OFG Bancorp Company Profile

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.