OFG Bancorp (NYSE:OFG) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its holdings in shares of OFG Bancorp (NYSE:OFG) by 22.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,531 shares of the bank’s stock after selling 21,280 shares during the quarter. Teacher Retirement System of Texas owned about 0.16% of OFG Bancorp worth $3,070,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp increased its position in shares of OFG Bancorp by 0.9% during the 3rd quarter. State Street Corp now owns 2,177,560 shares of the bank’s stock worth $98,354,000 after purchasing an additional 19,372 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of OFG Bancorp by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,652,224 shares of the bank’s stock valued at $69,922,000 after acquiring an additional 14,618 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of OFG Bancorp by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,080,937 shares of the bank’s stock valued at $48,565,000 after acquiring an additional 4,398 shares during the period. Wellington Management Group LLP lifted its holdings in shares of OFG Bancorp by 2.6% in the 3rd quarter. Wellington Management Group LLP now owns 769,727 shares of the bank’s stock worth $34,576,000 after acquiring an additional 19,599 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of OFG Bancorp by 2.6% during the 4th quarter. Principal Financial Group Inc. now owns 251,774 shares of the bank’s stock worth $10,655,000 after purchasing an additional 6,392 shares during the period. Hedge funds and other institutional investors own 92.73% of the company’s stock.

OFG Bancorp Stock Performance

NYSE:OFG opened at $41.20 on Wednesday. OFG Bancorp has a 52 week low of $33.19 and a 52 week high of $47.66. The company has a fifty day simple moving average of $42.09 and a two-hundred day simple moving average of $42.79. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 9.76 and a beta of 0.96.

OFG Bancorp (NYSE:OFG) last issued its quarterly earnings results 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 return on equity of 15.80% and a net margin of 22.71%. During the same quarter in the prior year, the business posted $0.98 EPS. As a group, equities analysts anticipate that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp Increases Dividend

The company also recently declared 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. 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 2.91%. This is an increase from OFG Bancorp’s previous quarterly dividend of $0.25. OFG Bancorp’s payout ratio is currently 28.44%.

Analyst Ratings Changes

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

OFG Bancorp Company 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.