OFG Bancorp (NYSE:OFG) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP cut its position in shares of OFG Bancorp (NYSE:OFG - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,200,849 shares of the bank's stock after selling 139,321 shares during the quarter. Dimensional Fund Advisors LP owned approximately 6.97% of OFG Bancorp worth $135,462,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC lifted its position in OFG Bancorp by 48.9% during the fourth quarter. GAMMA Investing LLC now owns 801 shares of the bank's stock valued at $34,000 after purchasing an additional 263 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in OFG Bancorp by 196.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank's stock worth $44,000 after buying an additional 680 shares during the period. R Squared Ltd purchased a new position in OFG Bancorp during the fourth quarter valued at $44,000. Meeder Asset Management Inc. bought a new stake in OFG Bancorp during the fourth quarter worth about $44,000. Finally, Blue Trust Inc. grew its stake in shares of OFG Bancorp by 84.8% in the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the bank's stock worth $93,000 after acquiring an additional 946 shares during the last quarter. 92.73% of the stock is owned by institutional investors.

OFG Bancorp Stock Up 2.6 %

OFG Bancorp stock traded up $1.01 during midday trading on Thursday, hitting $40.36. 63,463 shares of the company's stock were exchanged, compared to its average volume of 301,496. The company has a market cap of $1.83 billion, a PE ratio of 9.59 and a beta of 0.74. 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 has a 12 month low of $33.15 and a 12 month high of $47.66. The firm has a 50-day moving average of $38.79 and a two-hundred day moving average of $41.56.

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 the consensus estimate of $1.02 by ($0.02). The company had revenue of $178.30 million during the quarter, compared to analyst estimates of $175.35 million. OFG Bancorp had a net margin of 22.71% and a return on equity of 15.80%. During the same period last year, the firm earned $1.05 EPS. As a group, analysts expect that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.97%. OFG Bancorp's dividend payout ratio (DPR) is 28.78%.

Analyst Upgrades and Downgrades

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

OFG Bancorp 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.