Raffles Associates LP Has $5.50 Million Stock Holdings in OFG Bancorp (NYSE:OFG)

Raffles Associates LP raised its position in OFG Bancorp (NYSE:OFG - Free Report) by 8.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 130,067 shares of the bank's stock after acquiring an additional 10,000 shares during the period. OFG Bancorp comprises 5.9% of Raffles Associates LP's portfolio, making the stock its 5th biggest position. Raffles Associates LP owned about 0.28% of OFG Bancorp worth $5,504,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in OFG Bancorp by 48.9% during the fourth quarter. GAMMA Investing LLC now owns 801 shares of the bank's stock worth $34,000 after purchasing an additional 263 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of OFG Bancorp by 196.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank's stock worth $44,000 after acquiring an additional 680 shares during the last quarter. R Squared Ltd bought a new stake in OFG Bancorp in the 4th quarter valued at $44,000. Meeder Asset Management Inc. acquired a new stake in OFG Bancorp during the 4th quarter valued at $44,000. Finally, Blue Trust Inc. boosted its position in OFG Bancorp by 84.8% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the bank's stock worth $93,000 after purchasing an additional 946 shares during the period. Institutional investors and hedge funds own 92.73% of the company's stock.

OFG Bancorp Trading Down 0.3 %

NYSE:OFG traded down $0.12 during trading hours on Tuesday, hitting $41.11. 79,542 shares of the company were exchanged, compared to its average volume of 305,175. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 9.74 and a beta of 0.73. OFG Bancorp has a one year low of $33.15 and a one year high of $47.66. The company has a fifty day simple moving average of $38.77 and a 200 day simple moving average of $41.52. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26.

OFG Bancorp (NYSE:OFG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.02 by ($0.02). The company had revenue of $178.30 million for the quarter, compared to the consensus estimate of $175.35 million. OFG Bancorp had a return on equity of 15.80% and a net margin of 22.71%. During the same quarter last year, the business earned $1.05 earnings per share. Sell-side analysts expect that OFG Bancorp will post 4.18 EPS for the current fiscal year.

OFG Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Monday, June 30th. OFG Bancorp's dividend payout ratio (DPR) is presently 28.78%.

Analysts Set New Price Targets

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

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.