OFG Bancorp (NYSE:OFG) Stock Position Trimmed by Wellington Management Group LLP

Wellington Management Group LLP decreased its position in OFG Bancorp (NYSE:OFG) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 760,850 shares of the bank’s stock after selling 8,877 shares during the period. Wellington Management Group LLP owned approximately 1.66% of OFG Bancorp worth $32,199,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. State Street Corp grew its holdings 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 buying an additional 19,372 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of OFG Bancorp by 0.9% in 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. American Century Companies Inc. increased its holdings in shares of OFG Bancorp by 8.3% during the fourth quarter. American Century Companies Inc. now owns 1,167,849 shares of the bank’s stock valued at $49,423,000 after purchasing an additional 89,450 shares during the period. Geode Capital Management LLC raised its stake in shares of OFG Bancorp by 0.4% during the third quarter. Geode Capital Management LLC now owns 1,080,937 shares of the bank’s stock valued at $48,565,000 after purchasing an additional 4,398 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in OFG Bancorp by 5.0% in the fourth 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 period. Institutional investors and hedge funds own 92.73% of the company’s stock.

OFG Bancorp Price Performance

Shares of NYSE OFG opened at $34.96 on Monday. OFG Bancorp has a twelve month low of $33.19 and a twelve month high of $47.66. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average of $41.36 and a two-hundred day moving average of $42.53. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 8.28 and a beta of 0.74.

OFG Bancorp (NYSE:OFG) last released its earnings results on Wednesday, January 22nd. The bank reported $1.09 EPS 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 quarter last year, the firm earned $0.98 earnings per share. As a group, analysts expect that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from OFG Bancorp’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.43%. OFG Bancorp’s payout ratio is 28.44%.

Wall Street Analyst Weigh In

A number of research firms have commented on OFG. Wells Fargo & Company boosted their price target on shares of OFG Bancorp from $45.00 to $48.00 and gave the stock 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 stock an “outperform” rating in a report on Thursday, January 23rd.

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.