18,138 Shares in OFG Bancorp $OFG Purchased by Penn Capital Management Company LLC

Key Points

• Penn Capital Management has acquired 18,138 shares of OFG Bancorp, valued at approximately $726,000, in the 1st quarter, reflecting significant interest from institutional investors who now hold 92.73% of the stock.
• OFG Bancorp's stock price is currently up 4.7%, with recent earnings showing a profit of $1.15 per share, beating analysts' expectations, and a slight revenue increase from the previous year.
• A quarterly dividend of $0.30 per share has been announced, set to be paid on October 15th, representing a 2.7% dividend yield, with a payout ratio of 28.30%.

Penn Capital Management Company LLC bought a new stake in shares of OFG Bancorp (NYSE:OFG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 18,138 shares of the bank's stock, valued at approximately $726,000.

Other large investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new stake in OFG Bancorp during the 4th quarter valued at $172,000. Bridgefront Capital LLC acquired a new stake in OFG Bancorp during the 4th quarter valued at $221,000. Oxford Asset Management LLP acquired a new stake in OFG Bancorp during the 4th quarter valued at $225,000. Caxton Associates LP acquired a new stake in OFG Bancorp during the 4th quarter valued at $225,000. Finally, Noesis Capital Mangement Corp acquired a new stake in OFG Bancorp during the 1st quarter valued at $280,000. 92.73% of the stock is owned by institutional investors and hedge funds.

OFG Bancorp Stock Performance

Shares of OFG traded up $0.29 during trading hours on Friday, reaching $45.06. 32,126 shares of the company traded hands, compared to its average volume of 322,874. The stock's fifty day moving average is $43.52 and its 200 day moving average is $41.33. The stock has a market cap of $2.01 billion, a P/E ratio of 10.63 and a beta of 0.77. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.87 and a current ratio of 0.87. OFG Bancorp has a 1-year low of $33.15 and a 1-year high of $47.66.

OFG Bancorp (NYSE:OFG - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The bank reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.10. The business had revenue of $182.20 million during the quarter, compared to analyst estimates of $181.50 million. OFG Bancorp had a net margin of 22.06% and a return on equity of 14.97%. The firm's revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 earnings per share. Equities research analysts anticipate that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 30th. OFG Bancorp's dividend payout ratio is 28.30%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on OFG shares. Wells Fargo & Company boosted their target price on shares of OFG Bancorp from $42.00 to $48.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods boosted their price target on shares of OFG Bancorp from $48.00 to $50.00 and gave the company an "outperform" rating in a report on Friday, July 18th. Finally, Wall Street Zen upgraded shares of OFG Bancorp from a "sell" rating to a "hold" rating in a report on Sunday, July 20th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, OFG Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $47.50.

OFG Bancorp 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.