Elizabeth Park Capital Advisors Ltd. Decreases Position in OFG Bancorp (NYSE:OFG)

Elizabeth Park Capital Advisors Ltd. trimmed its holdings in OFG Bancorp (NYSE:OFG) by 30.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,719 shares of the bank’s stock after selling 21,977 shares during the quarter. Elizabeth Park Capital Advisors Ltd. owned about 0.11% of OFG Bancorp worth $2,104,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in OFG. FMR LLC lifted its holdings in shares of 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 purchasing an additional 15,498 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in OFG Bancorp by 109.2% in the third quarter. BNP Paribas Financial Markets now owns 35,302 shares of the bank’s stock valued at $1,586,000 after buying an additional 18,425 shares during the last quarter. Paloma Partners Management Co purchased a new position in shares of OFG Bancorp during the third quarter worth approximately $234,000. Centiva Capital LP increased its holdings in shares of OFG Bancorp by 12.9% in the 3rd quarter. Centiva Capital LP now owns 14,592 shares of the bank’s stock valued at $655,000 after acquiring an additional 1,665 shares during the period. Finally, State Street Corp increased its holdings in shares of OFG Bancorp by 0.9% in the 3rd quarter. State Street Corp now owns 2,177,560 shares of the bank’s stock valued at $98,354,000 after acquiring an additional 19,372 shares during the period. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OFG has been the topic of a number of research reports. Keefe, Bruyette & Woods raised their price target on OFG Bancorp from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Wells Fargo & Company boosted 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.

OFG Bancorp Trading Down 4.7 %

Shares of OFG Bancorp stock opened at $34.96 on Friday. The company has a 50-day moving average of $41.36 and a two-hundred day moving average of $42.55. OFG Bancorp has a 12-month low of $33.19 and a 12-month high of $47.66. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The stock has a market cap of $1.59 billion, a PE ratio of 8.28 and a beta of 0.74.

OFG Bancorp (NYSE:OFG) last posted its earnings results on Wednesday, January 22nd. The bank reported $1.09 EPS 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 earned $0.98 EPS. On average, research analysts anticipate that OFG Bancorp will post 4.18 EPS for the current fiscal 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. This is an increase from OFG Bancorp’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Monday, March 31st. OFG Bancorp’s dividend payout ratio (DPR) is 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.