OFG Bancorp (NYSE:OFG) Shares Sold by Elizabeth Park Capital Advisors Ltd.

Elizabeth Park Capital Advisors Ltd. lowered its stake in OFG Bancorp (NYSE:OFG - Free Report) by 30.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,719 shares of the bank's stock after selling 21,977 shares during the period. Elizabeth Park Capital Advisors Ltd. owned approximately 0.11% of OFG Bancorp worth $2,104,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State Street Corp lifted its position in OFG Bancorp by 0.9% in the third quarter. State Street Corp now owns 2,177,560 shares of the bank's stock valued at $98,354,000 after purchasing an additional 19,372 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of OFG Bancorp by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,652,224 shares of the bank's stock worth $69,922,000 after buying an additional 14,618 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of OFG Bancorp by 8.3% in the 4th quarter. American Century Companies Inc. now owns 1,167,849 shares of the bank's stock valued at $49,423,000 after buying an additional 89,450 shares during the period. Geode Capital Management LLC boosted its stake in shares of OFG Bancorp by 0.4% in the third quarter. Geode Capital Management LLC now owns 1,080,937 shares of the bank's stock valued at $48,565,000 after buying an additional 4,398 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in OFG Bancorp by 5.0% during the fourth quarter. JPMorgan Chase & Co. now owns 894,049 shares of the bank's stock worth $37,836,000 after acquiring an additional 42,335 shares during the period. Institutional investors and hedge funds own 92.73% of the company's stock.

Analyst Ratings Changes

A number of equities 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 company an "outperform" rating in a report on Thursday, January 23rd. Wells Fargo & Company downgraded shares of OFG Bancorp from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $48.00 to $42.00 in a report on Wednesday.

OFG Bancorp Price Performance

OFG Bancorp stock traded down $0.50 during trading hours on Friday, hitting $34.58. The stock had a trading volume of 76,113 shares, compared to its average volume of 293,890. OFG Bancorp has a 1-year low of $33.15 and a 1-year high of $47.66. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 8.15 and a beta of 0.74. The stock's fifty day moving average is $40.46 and its two-hundred day moving average is $42.18. 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 - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.09 EPS for the quarter, topping 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 period last year, the firm posted $0.98 EPS. As a group, analysts predict that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.47%. This is a boost 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 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.