OFG Bancorp (NYSE:OFG) Shares Purchased by Raffles Associates LP

Raffles Associates LP raised its holdings in shares of OFG Bancorp (NYSE:OFG - Free Report) by 8.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,067 shares of the bank's stock after acquiring an additional 10,000 shares during the quarter. OFG Bancorp makes up 5.9% of Raffles Associates LP's investment portfolio, making the stock its 5th largest position. Raffles Associates LP owned approximately 0.28% of OFG Bancorp worth $5,504,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of OFG. Empowered Funds LLC acquired a new stake in shares of OFG Bancorp during the fourth quarter worth approximately $4,570,000. Foundry Partners LLC boosted its position in shares of OFG Bancorp by 76.5% during the fourth quarter. Foundry Partners LLC now owns 237,264 shares of the bank's stock worth $10,041,000 after buying an additional 102,841 shares during the period. Tudor Investment Corp ET AL increased its holdings in shares of OFG Bancorp by 139.1% during the fourth 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 during the period. American Century Companies Inc. grew its position in 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 in the last quarter. Finally, Northern Trust Corp raised its holdings in OFG Bancorp by 8.0% during the fourth quarter. Northern Trust Corp now owns 650,844 shares of the bank's stock worth $27,544,000 after purchasing an additional 48,442 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company's stock.

OFG Bancorp Price Performance

Shares of NYSE:OFG traded down $0.21 during midday trading on Monday, reaching $41.22. 196,762 shares of the company's stock were exchanged, compared to its average volume of 306,074. The firm has a market capitalization of $1.87 billion, a PE ratio of 9.77 and a beta of 0.73. The company's 50 day simple moving average is $38.78 and its two-hundred day simple moving average is $41.51. 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 0.26, a quick ratio of 0.86 and a current ratio of 0.85.

OFG Bancorp (NYSE:OFG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.00 earnings per share for the quarter, missing analysts' consensus estimates of $1.02 by ($0.02). OFG Bancorp had a net margin of 22.71% and a return on equity of 15.80%. The company had revenue of $178.30 million during the quarter, compared to the consensus estimate of $175.35 million. During the same quarter last year, the company earned $1.05 earnings per share. Equities research analysts expect 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 Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.20 dividend on an annualized basis and a yield of 2.91%. OFG Bancorp's dividend payout ratio (DPR) is presently 28.78%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on OFG shares. Keefe, Bruyette & Woods lowered their price objective on shares of OFG Bancorp from $53.00 to $48.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Hovde Group lowered their price objective on shares of OFG Bancorp from $53.50 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Piper Sandler cut their price target on OFG Bancorp from $44.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, Wells Fargo & Company cut OFG Bancorp from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $48.00 to $42.00 in a research report on Wednesday, April 9th.

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.