Caisse DE Depot ET Placement DU Quebec Invests $1.24 Million in OFG Bancorp $OFG

Key Points

• Caisse DE Depot ET Placement DU Quebec acquired 30,900 shares of OFG Bancorp, valued at approximately $1.24 million, representing about 0.07% ownership of the bank's stock.
• OFG Bancorp reported quarterly earnings of $1.15 per share, exceeding analysts' expectations, with a revenue of $182.20 million, reflecting a 1.6% increase year-over-year.
• The company announced a quarterly dividend of $0.30 per share, with an annualized dividend yield of 2.7%, and a payout ratio currently at 28.30%.

Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of OFG Bancorp (NYSE:OFG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 30,900 shares of the bank's stock, valued at approximately $1,237,000. Caisse DE Depot ET Placement DU Quebec owned 0.07% of OFG Bancorp as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OFG. MetLife Investment Management LLC grew its position in OFG Bancorp by 5.1% during the fourth quarter. MetLife Investment Management LLC now owns 28,202 shares of the bank's stock valued at $1,194,000 after buying an additional 1,368 shares during the period. Hsbc Holdings PLC grew its position in OFG Bancorp by 28.1% during the fourth quarter. Hsbc Holdings PLC now owns 15,358 shares of the bank's stock valued at $652,000 after buying an additional 3,365 shares during the period. Northern Trust Corp grew its position in OFG Bancorp by 8.0% during the fourth quarter. Northern Trust Corp now owns 650,844 shares of the bank's stock valued at $27,544,000 after buying an additional 48,442 shares during the period. Lido Advisors LLC grew its position in OFG Bancorp by 36.0% during the fourth quarter. Lido Advisors LLC now owns 8,166 shares of the bank's stock valued at $348,000 after buying an additional 2,162 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in OFG Bancorp during the fourth quarter valued at $512,000. Institutional investors and hedge funds own 92.73% of the company's stock.

OFG Bancorp Price Performance

Shares of NYSE OFG traded up $0.80 during trading on Thursday, hitting $45.28. The company had a trading volume of 162,459 shares, compared to its average volume of 200,707. The stock has a fifty day simple moving average of $43.77 and a two-hundred day simple moving average of $41.40. OFG Bancorp has a fifty-two week low of $33.15 and a fifty-two week high of $47.66. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 10.68 and a beta of 0.81. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.34.

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

OFG Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently commented on OFG. Keefe, Bruyette & Woods raised their price target on shares of OFG Bancorp from $48.00 to $50.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Wells Fargo & Company lifted 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 report on Thursday, July 10th. Finally, Wall Street Zen upgraded shares of OFG Bancorp from a "sell" rating to a "hold" rating in a research 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. According to data from MarketBeat.com, OFG Bancorp presently has an average rating of "Moderate Buy" and a consensus target price of $47.50.

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.