Louisiana State Employees Retirement System Buys Shares of 19,200 OFG Bancorp $OFG

Louisiana State Employees Retirement System bought a new position in shares of OFG Bancorp (NYSE:OFG) during the 1st quarter, HoldingsChannel.com reports. The fund bought 19,200 shares of the bank’s stock, valued at approximately $777,000.

Several other institutional investors have also modified their holdings of OFG. Apella Capital LLC purchased a new position in OFG Bancorp in the first quarter valued at $245,000. Diversified Trust Co acquired a new position in OFG Bancorp during the 1st quarter worth approximately $217,000. Invesco Ltd. raised its stake in OFG Bancorp by 3.1% in the fourth quarter. Invesco Ltd. now owns 243,356 shares of the bank’s stock valued at $9,973,000 after buying an additional 7,337 shares in the last quarter. XTX Topco Ltd lifted its stake in OFG Bancorp by 274.4% during the fourth quarter. XTX Topco Ltd now owns 20,787 shares of the bank’s stock worth $852,000 after purchasing an additional 15,235 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its holdings in shares of OFG Bancorp by 15.4% in the 4th quarter. Voloridge Investment Management LLC now owns 149,259 shares of the bank’s stock valued at $6,117,000 after buying an additional 19,865 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Analysts Set New Price Targets

OFG has been the topic of a number of recent research reports. Zacks Research lowered OFG Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Wells Fargo & Company boosted their price target on OFG Bancorp from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Monday. Piper Sandler reaffirmed a “neutral” rating and set a $48.00 price target (up from $43.00) on shares of OFG Bancorp in a research note on Wednesday, April 22nd. Finally, Truist Financial lifted their price target on shares of OFG Bancorp from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, OFG Bancorp presently has an average rating of “Hold” and a consensus price target of $48.00.

OFG Bancorp Stock Up 0.0%

Shares of NYSE OFG traded up $0.01 during trading on Tuesday, reaching $49.70. 4,438 shares of the stock were exchanged, compared to its average volume of 342,221. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 10.27 and a beta of 0.70. The business’s 50-day moving average price is $46.44 and its 200 day moving average price is $43.00. 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 has a twelve month low of $35.71 and a twelve month high of $50.66.

OFG Bancorp (NYSE:OFG) last issued its quarterly earnings data 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 firm had revenue of $185.80 million for the quarter. As a group, equities analysts forecast that OFG Bancorp will post 4.75 EPS for the current fiscal year.

OFG Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Tuesday, June 30th. OFG Bancorp’s dividend payout ratio is 28.93%.

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.