OFG Bancorp $OFG Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP reduced its holdings in OFG Bancorp by 8.0%, now owning approximately 6.48% of the company after selling 256,083 shares.
• OFG Bancorp's recent quarterly earnings report showed an EPS of $1.15, exceeding analyst estimates and reflecting a 1.6% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.30, representing an annualized yield of 2.7%, with a dividend payout ratio of 28.30%.

Dimensional Fund Advisors LP lowered its stake in OFG Bancorp (NYSE:OFG - Free Report) by 8.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,944,766 shares of the bank's stock after selling 256,083 shares during the quarter. Dimensional Fund Advisors LP owned about 6.48% of OFG Bancorp worth $117,849,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of OFG. Nuveen LLC acquired a new stake in shares of OFG Bancorp in the first quarter valued at about $44,749,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in OFG Bancorp during the 4th quarter valued at approximately $7,289,000. Bridgeway Capital Management LLC acquired a new stake in OFG Bancorp during the 4th quarter valued at approximately $5,205,000. Tudor Investment Corp ET AL grew its stake in OFG Bancorp by 139.1% during the 4th quarter. Tudor Investment Corp ET AL now owns 176,517 shares of the bank's stock valued at $7,470,000 after purchasing an additional 102,680 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its stake in OFG Bancorp by 138.8% during the 4th quarter. Voloridge Investment Management LLC now owns 149,709 shares of the bank's stock valued at $6,336,000 after purchasing an additional 87,024 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on OFG shares. Keefe, Bruyette & Woods raised their price objective on OFG Bancorp from $48.00 to $50.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Wells Fargo & Company increased their target price on OFG Bancorp from $42.00 to $48.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Finally, Wall Street Zen raised 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 given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $47.50.

OFG Bancorp Stock Performance

Shares of NYSE OFG traded down $0.01 during mid-day trading on Thursday, hitting $44.85. The company had a trading volume of 288,179 shares, compared to its average volume of 216,376. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 10.58 and a beta of 0.77. OFG Bancorp has a 12 month low of $33.15 and a 12 month high of $47.66. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.87 and a quick ratio of 0.87. The firm's 50 day simple moving average is $43.52 and its two-hundred day simple moving average is $41.33.

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

OFG Bancorp Announces Dividend

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

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.