Bridgeway Capital Management LLC Invests $5.21 Million in OFG Bancorp (NYSE:OFG)

Bridgeway Capital Management LLC purchased a new position in shares of OFG Bancorp (NYSE:OFG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 122,985 shares of the bank's stock, valued at approximately $5,205,000. Bridgeway Capital Management LLC owned approximately 0.27% of OFG Bancorp at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OFG. Barclays PLC lifted its position in OFG Bancorp by 83.6% during the 3rd quarter. Barclays PLC now owns 96,045 shares of the bank's stock worth $4,314,000 after buying an additional 43,738 shares in the last quarter. GAMMA Investing LLC lifted its position in OFG Bancorp by 48.9% during the 4th quarter. GAMMA Investing LLC now owns 801 shares of the bank's stock worth $34,000 after buying an additional 263 shares in the last quarter. Diversified Trust Co increased its stake in shares of OFG Bancorp by 9.5% during the 4th quarter. Diversified Trust Co now owns 15,399 shares of the bank's stock worth $652,000 after purchasing an additional 1,330 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in shares of OFG Bancorp by 9.6% during the 4th quarter. Wedge Capital Management L L P NC now owns 21,959 shares of the bank's stock worth $929,000 after purchasing an additional 1,931 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of OFG Bancorp by 736.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,385 shares of the bank's stock worth $101,000 after purchasing an additional 2,100 shares during the last quarter. 92.73% of the stock is owned by institutional investors.

OFG Bancorp Stock Performance

OFG traded up $1.19 on Monday, reaching $42.45. The company had a trading volume of 110,443 shares, compared to its average volume of 307,527. OFG Bancorp has a fifty-two week low of $33.15 and a fifty-two week high of $47.66. The stock has a market cap of $1.93 billion, a P/E ratio of 10.05 and a beta of 0.73. The company's fifty day moving average is $38.71 and its 200 day moving average is $41.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.85.

OFG Bancorp (NYSE:OFG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.02 by ($0.02). The business had revenue of $178.30 million during the quarter, compared to the consensus estimate of $175.35 million. OFG Bancorp had a net margin of 22.71% and a return on equity of 15.80%. During the same period in the prior year, the firm earned $1.05 EPS. As a group, analysts predict that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Monday, June 30th. OFG Bancorp's dividend payout ratio is currently 28.78%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OFG. Wells Fargo & Company lowered shares of OFG Bancorp from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $48.00 to $42.00 in a research note on Wednesday, April 9th. Hovde Group lowered their price objective on shares of OFG Bancorp from $53.50 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Keefe, Bruyette & Woods lowered their price objective on shares of OFG Bancorp from $53.00 to $48.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, Piper Sandler lowered their price objective on shares of OFG Bancorp from $44.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th.

Insider Buying and Selling at OFG Bancorp

In other OFG Bancorp news, CFO Maritza Arizmendi sold 5,000 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $41.44, for a total value of $207,200.00. Following the completion of the sale, the chief financial officer now owns 63,470 shares of the company's stock, valued at $2,630,196.80. The trade was a 7.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.11% of the company's stock.

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.