Y Intercept Hong Kong Ltd raised its stake in OFG Bancorp (NYSE:OFG – Free Report) by 15.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 99,904 shares of the bank’s stock after acquiring an additional 13,105 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.24% of OFG Bancorp worth $4,042,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of OFG. Tudor Investment Corp ET AL raised its stake in OFG Bancorp by 23.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 180,897 shares of the bank’s stock valued at $7,867,000 after acquiring an additional 34,653 shares during the period. Gator Capital Management LLC boosted its position in OFG Bancorp by 15.2% during the third quarter. Gator Capital Management LLC now owns 233,170 shares of the bank’s stock worth $10,141,000 after purchasing an additional 30,740 shares during the period. Algert Global LLC boosted its position in OFG Bancorp by 31.0% during the third quarter. Algert Global LLC now owns 300,292 shares of the bank’s stock worth $13,060,000 after purchasing an additional 71,112 shares during the period. Quantbot Technologies LP boosted its position in OFG Bancorp by 358.4% during the third quarter. Quantbot Technologies LP now owns 17,332 shares of the bank’s stock worth $754,000 after purchasing an additional 13,551 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of OFG Bancorp by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 608,572 shares of the bank’s stock worth $26,467,000 after purchasing an additional 28,114 shares in the last quarter. 92.73% of the stock is owned by institutional investors.
OFG Bancorp Trading Up 0.0%
Shares of OFG opened at $49.49 on Monday. The business’s 50-day moving average price is $46.37 and its 200-day moving average price is $42.94. OFG Bancorp has a twelve month low of $35.71 and a twelve month high of $50.66. The stock has a market cap of $2.09 billion, a PE ratio of 10.22 and a beta of 0.70. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.33.
OFG Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Tuesday, June 30th. OFG Bancorp’s payout ratio is 28.93%.
Analyst Upgrades and Downgrades
A number of analysts recently commented on OFG shares. Piper Sandler restated a “neutral” rating and set a $48.00 price target (up from $43.00) on shares of OFG Bancorp in a research note on Wednesday, April 22nd. Truist Financial lifted their price objective on shares of OFG Bancorp from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Zacks Research cut shares of OFG Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Finally, Wells Fargo & Company increased their target price on OFG Bancorp from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 22nd. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $47.20.
View Our Latest Research Report on OFG
About OFG Bancorp
OFG Bancorp, through its principal subsidiary Oriental Bank, is a financial holding company headquartered in San Juan, Puerto Rico. The company provides a wide range of banking services, including commercial and consumer deposit accounts, small business loans, corporate lending, treasury management, and cash management solutions. Its consumer offerings encompass personal checking and savings accounts, credit cards, and electronic banking platforms designed to serve retail customers across its markets.
In addition to traditional banking products, OFG Bancorp offers mortgage origination and servicing, as well as wealth management and trust services for high‐net‐worth individuals and institutional clients.
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