State of Tennessee Department of Treasury Has $1.17 Million Stake in OFG Bancorp (NYSE:OFG)

State of Tennessee Department of Treasury decreased its position in OFG Bancorp (NYSE:OFG - Free Report) by 34.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,624 shares of the bank's stock after selling 14,549 shares during the quarter. State of Tennessee Department of Treasury owned about 0.06% of OFG Bancorp worth $1,169,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OFG. Barclays PLC boosted its position in OFG Bancorp by 83.6% during the third quarter. Barclays PLC now owns 96,045 shares of the bank's stock worth $4,314,000 after purchasing an additional 43,738 shares during the period. GAMMA Investing LLC grew its stake in OFG Bancorp by 48.9% in the 4th quarter. GAMMA Investing LLC now owns 801 shares of the bank's stock valued at $34,000 after buying an additional 263 shares during the last quarter. Diversified Trust Co raised its holdings in OFG Bancorp by 9.5% in the 4th quarter. Diversified Trust Co now owns 15,399 shares of the bank's stock worth $652,000 after acquiring an additional 1,330 shares during the period. Range Financial Group LLC acquired a new position in OFG Bancorp during the 4th quarter worth $1,795,000. Finally, Wedge Capital Management L L P NC boosted its holdings in OFG Bancorp by 9.6% during the fourth quarter. Wedge Capital Management L L P NC now owns 21,959 shares of the bank's stock valued at $929,000 after acquiring an additional 1,931 shares during the period. Institutional investors own 92.73% of the company's stock.

Analysts Set New Price Targets

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

OFG Bancorp Stock Performance

OFG traded up $0.05 on Monday, hitting $41.48. 77,922 shares of the stock traded hands, compared to its average volume of 305,612. The business has a fifty day moving average price of $38.78 and a two-hundred day moving average price of $41.51. 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 has a 52 week low of $33.15 and a 52 week high of $47.66. The firm has a market capitalization of $1.88 billion, a PE ratio of 9.83 and a beta of 0.73.

OFG Bancorp (NYSE:OFG - Get Free Report) last released 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 firm had revenue of $178.30 million for the quarter, compared to the consensus estimate of $175.35 million. OFG Bancorp had a net margin of 22.71% and a return on equity of 15.80%. During the same quarter in the prior year, the firm posted $1.05 earnings per share. On average, research analysts predict that OFG Bancorp will post 4.18 EPS for the current fiscal year.

OFG Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Monday, June 30th. OFG Bancorp's payout ratio is 28.78%.

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.