Martingale Asset Management L P Purchases 2,900 Shares of OFG Bancorp (NYSE:OFG)

Martingale Asset Management L P grew its position in OFG Bancorp (NYSE:OFG) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 90,115 shares of the bank’s stock after acquiring an additional 2,900 shares during the period. Martingale Asset Management L P owned 0.20% of OFG Bancorp worth $3,814,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. State Street Corp raised its position in OFG Bancorp by 0.9% in the 3rd quarter. State Street Corp now owns 2,177,560 shares of the bank’s stock worth $98,354,000 after purchasing an additional 19,372 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in OFG Bancorp by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,652,224 shares of the bank’s stock worth $69,922,000 after purchasing an additional 14,618 shares during the last quarter. American Century Companies Inc. raised 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 worth $49,423,000 after purchasing an additional 89,450 shares during the last quarter. Geode Capital Management LLC raised its position in OFG Bancorp by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,080,937 shares of the bank’s stock worth $48,565,000 after purchasing an additional 4,398 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in OFG Bancorp by 5.0% in the 4th quarter. JPMorgan Chase & Co. now owns 894,049 shares of the bank’s stock worth $37,836,000 after purchasing an additional 42,335 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

OFG Bancorp Stock Up 6.1 %

OFG Bancorp stock opened at $36.91 on Thursday. The stock has a market cap of $1.68 billion, a P/E ratio of 8.75 and a beta of 0.74. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. OFG Bancorp has a twelve month low of $33.15 and a twelve month high of $47.66. The company’s 50-day moving average price is $40.61 and its two-hundred day moving average price is $42.25.

OFG Bancorp (NYSE:OFG) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.09 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the company posted $0.98 EPS. As a group, analysts expect that OFG Bancorp will post 4.18 EPS for the current year.

OFG Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.30 per share. This is a positive change from OFG Bancorp’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. This represents a $1.20 annualized dividend and a dividend yield of 3.25%. OFG Bancorp’s dividend payout ratio (DPR) is currently 28.44%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of OFG Bancorp from $53.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Wells Fargo & Company cut shares of OFG Bancorp from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $48.00 to $42.00 in a research report on Wednesday.

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.