Thomas J. Herzfeld Advisors Inc. Sells 10,000 Shares of OFG Bancorp (NYSE:OFG)

Thomas J. Herzfeld Advisors Inc. reduced its stake in OFG Bancorp (NYSE:OFG) by 18.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,454 shares of the bank’s stock after selling 10,000 shares during the period. Thomas J. Herzfeld Advisors Inc. owned about 0.09% of OFG Bancorp worth $1,839,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of OFG Bancorp by 48.9% in the fourth quarter. GAMMA Investing LLC now owns 801 shares of the bank’s stock worth $34,000 after buying an additional 263 shares during the period. R Squared Ltd bought a new stake in OFG Bancorp in the 4th quarter worth $44,000. Smartleaf Asset Management LLC increased its position in shares of OFG Bancorp by 196.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank’s stock valued at $44,000 after acquiring an additional 680 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of OFG Bancorp in the fourth quarter valued at about $44,000. Finally, Blue Trust Inc. raised its stake in shares of OFG Bancorp by 84.8% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the bank’s stock valued at $93,000 after acquiring an additional 946 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on OFG shares. Keefe, Bruyette & Woods boosted their price target on 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 lifted their price objective on OFG Bancorp from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd.

OFG Bancorp Price Performance

Shares of NYSE OFG opened at $40.02 on Tuesday. OFG Bancorp has a 1 year low of $33.19 and a 1 year high of $47.66. The stock has a market capitalization of $1.82 billion, a P/E ratio of 9.48 and a beta of 0.96. The company’s 50-day moving average is $41.83 and its 200 day moving average is $42.71. 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 analysts’ consensus estimates 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. On average, sell-side analysts expect that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.30 dividend. This is an increase from OFG Bancorp’s previous quarterly dividend of $0.25. 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 3.00%. OFG Bancorp’s dividend payout ratio is 28.44%.

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.