OFG Bancorp $OFG Shares Purchased by Jacobs Asset Management LLC

Jacobs Asset Management LLC grew its stake in shares of OFG Bancorp (NYSE:OFG) by 13.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 90,000 shares of the bank’s stock after buying an additional 10,670 shares during the period. OFG Bancorp accounts for 2.2% of Jacobs Asset Management LLC’s investment portfolio, making the stock its 17th biggest position. Jacobs Asset Management LLC owned approximately 0.21% of OFG Bancorp worth $3,641,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. Tudor Investment Corp ET AL boosted its stake in shares of OFG Bancorp by 23.7% during the third 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 last quarter. Intech Investment Management LLC increased its position in OFG Bancorp by 109.0% during the 4th quarter. Intech Investment Management LLC now owns 148,046 shares of the bank’s stock worth $6,067,000 after purchasing an additional 77,223 shares in the last quarter. Vest Financial LLC raised its stake in OFG Bancorp by 16.5% in the 4th quarter. Vest Financial LLC now owns 141,076 shares of the bank’s stock valued at $5,781,000 after purchasing an additional 20,020 shares during the last quarter. CenterBook Partners LP raised its stake in OFG Bancorp by 83.2% in the 4th quarter. CenterBook Partners LP now owns 111,190 shares of the bank’s stock valued at $4,557,000 after purchasing an additional 50,508 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in OFG Bancorp in the 1st quarter valued at about $777,000. 92.73% of the stock is owned by institutional investors and hedge funds.

OFG Bancorp Stock Performance

NYSE OFG opened at $52.27 on Friday. The business’s 50-day moving average price is $47.96 and its 200 day moving average price is $43.85. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.32. OFG Bancorp has a twelve month low of $35.71 and a twelve month high of $53.20. The company has a market capitalization of $2.21 billion, a PE ratio of 10.29 and a beta of 0.70.

OFG Bancorp (NYSE:OFG) last posted its quarterly earnings results on Tuesday, July 21st. The bank reported $1.39 EPS for the quarter, beating the consensus estimate of $1.17 by $0.22. OFG Bancorp had a return on equity of 15.92% and a net margin of 24.08%.The company had revenue of $190.32 million during the quarter, compared to analysts’ expectations of $182.64 million. During the same quarter in the previous year, the business earned $1.15 EPS. On average, research analysts predict that OFG Bancorp will post 5.05 earnings per share for the current year.

OFG Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.40 annualized dividend and a dividend yield of 2.7%. OFG Bancorp’s dividend payout ratio (DPR) is currently 27.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods raised their price target on shares of OFG Bancorp from $52.00 to $57.00 and gave the stock a “market perform” rating in a research note on Wednesday. Benchmark began coverage on shares of OFG Bancorp in a research report on Tuesday, July 14th. They issued a “hold” rating for the company. Weiss Ratings reissued a “buy (b)” rating on shares of OFG Bancorp in a research note on Friday, July 10th. Zacks Research lowered shares of OFG Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Finally, Truist Financial lifted their target price on shares of OFG Bancorp from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $54.00.

OFG Bancorp Company Profile

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.