Mirae Asset Global Investments Co. Ltd. Has $1.04 Million Stock Holdings in OFG Bancorp (NYSE:OFG)

Mirae Asset Global Investments Co. Ltd. increased its position in OFG Bancorp (NYSE:OFG) by 6.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,645 shares of the bank’s stock after purchasing an additional 1,725 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.06% of OFG Bancorp worth $1,036,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its stake in shares of OFG Bancorp by 1.5% in the 4th quarter. SG Americas Securities LLC now owns 22,002 shares of the bank’s stock valued at $825,000 after acquiring an additional 329 shares during the last quarter. Vest Financial LLC acquired a new position in OFG Bancorp during the fourth quarter valued at approximately $241,000. Diversified Trust Co increased its stake in OFG Bancorp by 6.3% in the fourth quarter. Diversified Trust Co now owns 13,308 shares of the bank’s stock valued at $499,000 after purchasing an additional 787 shares in the last quarter. American Century Companies Inc. raised its holdings in OFG Bancorp by 9.9% in the third quarter. American Century Companies Inc. now owns 568,693 shares of the bank’s stock worth $16,981,000 after purchasing an additional 51,391 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of OFG Bancorp by 0.8% during the third quarter. Deutsche Bank AG now owns 364,442 shares of the bank’s stock worth $10,882,000 after purchasing an additional 2,849 shares in the last quarter. 92.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company decreased their target price on OFG Bancorp from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th.

Insider Transactions at OFG Bancorp

In related news, insider Ganesh Kumar sold 9,697 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $36.40, for a total transaction of $352,970.80. Following the sale, the insider now owns 134,805 shares in the company, valued at $4,906,902. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 34,536 shares of company stock worth $1,238,317 in the last three months. Insiders own 2.16% of the company’s stock.

OFG Bancorp Stock Up 1.6 %

NYSE:OFG opened at $36.26 on Wednesday. The company has a market cap of $1.71 billion, a PE ratio of 9.27 and a beta of 1.09. The stock has a 50-day simple moving average of $35.75 and a 200 day simple moving average of $34.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.83 and a current ratio of 0.87. OFG Bancorp has a 52-week low of $22.34 and a 52-week high of $39.04.

OFG Bancorp (NYSE:OFG) last issued its quarterly earnings results on Thursday, April 18th. The bank reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.10. The company had revenue of $213.49 million during the quarter, compared to analysts’ expectations of $175.20 million. OFG Bancorp had a net margin of 23.00% and a return on equity of 16.10%. During the same period last year, the business earned $0.96 EPS. On average, sell-side analysts expect that OFG Bancorp will post 4.02 EPS for the current fiscal year.

OFG Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from OFG Bancorp’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a yield of 2.76%. OFG Bancorp’s payout ratio is 25.58%.

About OFG Bancorp

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.