Quantbot Technologies LP Has $1.24 Million Stock Position in OFG Bancorp (NYSE:OFG)

Quantbot Technologies LP boosted its stake in shares of OFG Bancorp (NYSE:OFG) by 108.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,232 shares of the bank’s stock after acquiring an additional 15,200 shares during the quarter. Quantbot Technologies LP’s holdings in OFG Bancorp were worth $1,237,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OFG. GAMMA Investing LLC raised its position in shares of OFG Bancorp by 48.9% during the fourth quarter. GAMMA Investing LLC now owns 801 shares of the bank’s stock worth $34,000 after acquiring an additional 263 shares during the last quarter. R Squared Ltd bought a new stake in OFG Bancorp during the 4th quarter worth about $44,000. Smartleaf Asset Management LLC lifted its position in OFG Bancorp by 196.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank’s stock valued at $44,000 after purchasing an additional 680 shares during the period. Blue Trust Inc. boosted its stake in shares of OFG Bancorp by 84.8% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the bank’s stock valued at $93,000 after purchasing an additional 946 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of OFG Bancorp by 736.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,385 shares of the bank’s stock valued at $101,000 after purchasing an additional 2,100 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Wall Street Analyst Weigh In

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

OFG Bancorp Stock Performance

Shares of NYSE:OFG opened at $41.20 on Wednesday. The firm’s 50 day simple moving average is $42.09 and its 200 day simple moving average is $42.79. OFG Bancorp has a fifty-two week low of $33.19 and a fifty-two week high of $47.66. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 9.76 and a beta of 0.96. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.85 and a quick ratio of 0.86.

OFG Bancorp (NYSE:OFG) last posted its 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 net margin of 22.71% and a return on equity of 15.80%. During the same period last year, the firm earned $0.98 EPS. As a group, sell-side analysts forecast that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, March 31st. This is a positive change from OFG Bancorp’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.91%. OFG Bancorp’s payout ratio is currently 28.44%.

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.