OFG Bancorp (NYSE:OFG) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its holdings in shares of OFG Bancorp (NYSE:OFG) by 22.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 72,531 shares of the bank’s stock after selling 21,280 shares during the quarter. Teacher Retirement System of Texas’ holdings in OFG Bancorp were worth $3,070,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. State Street Corp boosted its holdings in OFG Bancorp by 0.9% in the third quarter. State Street Corp now owns 2,177,560 shares of the bank’s stock valued at $98,354,000 after purchasing an additional 19,372 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in OFG Bancorp by 0.9% during the fourth 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of OFG Bancorp by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,080,937 shares of the bank’s stock worth $48,565,000 after buying an additional 4,398 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of OFG Bancorp by 2.6% in the 3rd quarter. Wellington Management Group LLP now owns 769,727 shares of the bank’s stock valued at $34,576,000 after buying an additional 19,599 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of OFG Bancorp by 2.6% in the 4th quarter. Principal Financial Group Inc. now owns 251,774 shares of the bank’s stock valued at $10,655,000 after buying an additional 6,392 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Analyst Ratings Changes

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

OFG Bancorp Stock Up 0.4 %

OFG stock opened at $41.20 on Wednesday. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 9.76 and a beta of 0.96. The company has a fifty day moving average price of $42.09 and a 200 day moving average price of $42.79. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.85 and a quick ratio of 0.86. OFG Bancorp has a 12 month low of $33.19 and a 12 month high of $47.66.

OFG Bancorp (NYSE:OFG) last announced its earnings results on Wednesday, January 22nd. The bank reported $1.09 EPS 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 period in the previous year, the business earned $0.98 earnings per share. Sell-side analysts expect that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.91%. This is a boost from OFG Bancorp’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 31st. OFG Bancorp’s dividend payout ratio (DPR) is presently 28.44%.

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.