Canada Pension Plan Investment Board Invests $1.36 Million in OFG Bancorp (NYSE:OFG)

Canada Pension Plan Investment Board purchased a new position in OFG Bancorp (NYSE:OFG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 32,200 shares of the bank's stock, valued at approximately $1,363,000. Canada Pension Plan Investment Board owned about 0.07% of OFG Bancorp at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OFG. GAMMA Investing LLC boosted its stake in shares of 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 acquiring an additional 263 shares during the last quarter. R Squared Ltd bought a new stake in shares of OFG Bancorp during the 4th quarter valued at $44,000. Smartleaf Asset Management LLC lifted its stake in shares of 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 buying an additional 680 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of OFG Bancorp during the 4th quarter valued at $44,000. Finally, Blue Trust Inc. grew its position 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 worth $93,000 after purchasing an additional 946 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Hovde Group dropped their price objective on shares of OFG Bancorp from $53.50 to $50.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company downgraded shares of OFG Bancorp from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $48.00 to $42.00 in a research note on Wednesday, April 9th. Keefe, Bruyette & Woods lowered their target price on OFG Bancorp from $53.00 to $48.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, Piper Sandler dropped 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.

OFG Bancorp Price Performance

Shares of OFG Bancorp stock traded up $0.40 during trading hours on Tuesday, reaching $39.38. The stock had a trading volume of 43,084 shares, compared to its average volume of 299,982. The firm has a market capitalization of $1.79 billion, a PE ratio of 9.32 and a beta of 0.74. The stock's 50 day moving average is $38.88 and its 200 day moving average is $41.59. 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 twelve month low of $33.15 and a twelve month high of $47.66.

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

OFG Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.30 dividend. This is a positive change from OFG Bancorp's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a yield of 3.05%. OFG Bancorp's payout ratio is presently 28.78%.

OFG Bancorp Company 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.