American Century Companies Inc. Acquires 89,450 Shares of OFG Bancorp (NYSE:OFG)

American Century Companies Inc. raised its holdings in OFG Bancorp (NYSE:OFG) by 8.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,167,849 shares of the bank’s stock after buying an additional 89,450 shares during the period. American Century Companies Inc. owned about 2.54% of OFG Bancorp worth $49,423,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in OFG. Quantbot Technologies LP lifted its holdings in shares of OFG Bancorp by 108.3% in the fourth quarter. Quantbot Technologies LP now owns 29,232 shares of the bank’s stock valued at $1,237,000 after purchasing an additional 15,200 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in OFG Bancorp by 6.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 137,103 shares of the bank’s stock valued at $5,802,000 after acquiring an additional 8,589 shares in the last quarter. Picton Mahoney Asset Management boosted its holdings in OFG Bancorp by 54.2% during the 4th quarter. Picton Mahoney Asset Management now owns 13,820 shares of the bank’s stock worth $585,000 after acquiring an additional 4,857 shares during the last quarter. Vestcor Inc bought a new stake in shares of OFG Bancorp in the 4th quarter worth $107,000. Finally, Amundi raised its holdings in shares of OFG Bancorp by 186.4% in the fourth quarter. Amundi now owns 23,479 shares of the bank’s stock valued at $987,000 after purchasing an additional 15,282 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

OFG Bancorp Price Performance

OFG opened at $41.06 on Thursday. OFG Bancorp has a fifty-two week low of $33.19 and a fifty-two week high of $47.66. The firm has a 50-day moving average of $42.04 and a 200 day moving average of $42.77. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.85. The firm has a market cap of $1.87 billion, a P/E ratio of 9.73 and a beta of 0.96.

OFG Bancorp (NYSE:OFG) last released its earnings results on Wednesday, January 22nd. The bank reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.12. 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 company posted $0.98 earnings per share. On average, research analysts expect that OFG Bancorp will post 4.18 EPS for the current year.

OFG Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.30 dividend. This is an increase from OFG Bancorp’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Monday, March 31st. OFG Bancorp’s dividend payout ratio (DPR) is currently 28.44%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on OFG. Keefe, Bruyette & Woods boosted their price target on shares of OFG Bancorp from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Wells Fargo & Company upped their target price on OFG Bancorp from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd.

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.