Bailard Inc. Buys 4,730 Shares of OFG Bancorp (NYSE:OFG)

Bailard Inc. grew its stake in shares of OFG Bancorp (NYSE:OFG) by 39.4% in the fourth quarter, Holdings Channel reports. The fund owned 16,741 shares of the bank’s stock after acquiring an additional 4,730 shares during the quarter. Bailard Inc.’s holdings in OFG Bancorp were worth $708,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its holdings in OFG Bancorp by 4,014.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,975 shares of the bank’s stock worth $89,000 after buying an additional 1,927 shares during the period. Janney Montgomery Scott LLC bought a new position in OFG Bancorp in the 3rd quarter worth approximately $759,000. Robeco Institutional Asset Management B.V. bought a new position in OFG Bancorp in the 3rd quarter worth approximately $209,000. Olympiad Research LP boosted its stake in OFG Bancorp by 15.3% in the 3rd quarter. Olympiad Research LP now owns 8,256 shares of the bank’s stock worth $371,000 after purchasing an additional 1,095 shares during the period. Finally, Summit Global Investments boosted its stake in OFG Bancorp by 14.6% in the 3rd quarter. Summit Global Investments now owns 34,604 shares of the bank’s stock worth $1,554,000 after purchasing an additional 4,417 shares during the period. Institutional investors own 92.73% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, CEO Jose Rafael Fernandez sold 50,000 shares of OFG Bancorp stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $45.24, for a total value of $2,262,000.00. Following the completion of the sale, the chief executive officer now directly owns 284,775 shares in the company, valued at $12,883,221. The trade was a 14.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.11% of the stock is owned by company insiders.

OFG Bancorp Stock Performance

Shares of NYSE:OFG opened at $42.10 on Tuesday. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 9.98 and a beta of 1.00. The company has a 50-day moving average price of $42.70 and a 200-day moving average price of $43.25. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. OFG Bancorp has a 12 month low of $33.19 and a 12 month high of $47.66.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.09 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the company earned $0.98 EPS. As a group, equities analysts anticipate that OFG Bancorp will post 4.18 EPS for the current year.

OFG Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.85%. This is a positive change from OFG Bancorp’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. OFG Bancorp’s dividend payout ratio (DPR) is presently 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.