PharVision Advisers LLC Invests $335,000 in OFG Bancorp $OFG

Key Points

• PharVision Advisers LLC invested $335,000 in OFG Bancorp, acquiring 8,379 shares in the first quarter, highlighting growing interest from institutional investors.
• OFG Bancorp reported $1.15 EPS for the last quarter, exceeding analysts' estimates and demonstrating a 1.6% revenue increase year-over-year.
• The company declared a quarterly dividend of $0.30, with a yield of 2.7%, reflecting a dividend payout ratio of 28.30%.

PharVision Advisers LLC acquired a new stake in shares of OFG Bancorp (NYSE:OFG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,379 shares of the bank's stock, valued at approximately $335,000.

Other institutional investors also recently made changes to their positions in the company. Quarry LP grew its stake in shares of OFG Bancorp by 458.9% during the 1st quarter. Quarry LP now owns 2,666 shares of the bank's stock valued at $107,000 after buying an additional 2,189 shares during the period. Point72 Asset Management L.P. acquired a new stake in OFG Bancorp in the 4th quarter valued at $172,000. Bridgefront Capital LLC acquired a new stake in OFG Bancorp in the 4th quarter valued at $221,000. Vident Advisory LLC acquired a new stake in OFG Bancorp in the 1st quarter valued at $210,000. Finally, Noesis Capital Mangement Corp acquired a new stake in OFG Bancorp in the 1st quarter valued at $280,000. 92.73% of the stock is owned by hedge funds and other institutional investors.

OFG Bancorp Stock Up 0.4%

NYSE:OFG traded up $0.18 on Wednesday, reaching $44.09. The stock had a trading volume of 151,146 shares, compared to its average volume of 318,582. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average of $43.84 and a 200 day moving average of $41.45. The stock has a market cap of $1.96 billion, a P/E ratio of 10.40 and a beta of 0.81. OFG Bancorp has a 12-month low of $33.15 and a 12-month high of $47.66.

OFG Bancorp (NYSE:OFG - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The bank reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.10. The company had revenue of $182.20 million during the quarter, compared to analysts' expectations 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 period in the prior year, the company posted $1.08 EPS. On average, research analysts predict that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given 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 dividend yield of 2.7%. OFG Bancorp's dividend payout ratio (DPR) is presently 28.30%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wall Street Zen upgraded OFG Bancorp from a "sell" rating to a "hold" rating in a report on Sunday, July 20th. Wells Fargo & Company increased their price target on OFG Bancorp from $42.00 to $48.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Finally, Keefe, Bruyette & Woods increased their price target on OFG Bancorp from $48.00 to $50.00 and gave the company an "outperform" rating in a report on Friday, July 18th. Three research 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, OFG Bancorp presently has a consensus rating of "Moderate Buy" and an average 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.