Gator Capital Management LLC Sells 345 Shares of OFG Bancorp (NYSE:OFG)

Gator Capital Management LLC cut its stake in OFG Bancorp (NYSE:OFG) by 0.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 202,430 shares of the bank’s stock after selling 345 shares during the quarter. OFG Bancorp comprises 3.2% of Gator Capital Management LLC’s investment portfolio, making the stock its 11th largest position. Gator Capital Management LLC’s holdings in OFG Bancorp were worth $8,567,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. FMR LLC raised its position in OFG Bancorp by 8.1% in the 3rd quarter. FMR LLC now owns 205,745 shares of the bank’s stock valued at $9,242,000 after buying an additional 15,498 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of OFG Bancorp by 109.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 35,302 shares of the bank’s stock worth $1,586,000 after acquiring an additional 18,425 shares in the last quarter. Paloma Partners Management Co purchased a new stake in shares of OFG Bancorp in the third quarter valued at about $234,000. Centiva Capital LP lifted its position in shares of OFG Bancorp by 12.9% during the third quarter. Centiva Capital LP now owns 14,592 shares of the bank’s stock valued at $655,000 after purchasing an additional 1,665 shares in the last quarter. Finally, State Street Corp boosted its holdings in OFG Bancorp by 0.9% during the third 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. Institutional investors own 92.73% of the company’s stock.

OFG Bancorp Price Performance

OFG opened at $34.96 on Friday. OFG Bancorp has a fifty-two week low of $33.19 and a fifty-two week high of $47.66. The firm has a 50-day moving average of $41.36 and a 200 day moving average of $42.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.85. The firm has a market cap of $1.59 billion, a P/E ratio of 8.28 and a beta of 0.74.

OFG Bancorp (NYSE:OFG) last released its earnings results on Wednesday, January 22nd. The bank reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the company posted $0.98 earnings per share. On average, research analysts expect that OFG Bancorp will post 4.18 EPS for the current year.

OFG Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.30 dividend. This is an increase from OFG Bancorp’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Monday, March 31st. OFG Bancorp’s dividend payout ratio (DPR) is currently 28.44%.

Analyst Ratings Changes

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