OFG Bancorp (NYSE:OFG) Shares Bought by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC grew its holdings in shares of OFG Bancorp (NYSE:OFG) by 94.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 196,042 shares of the bank’s stock after purchasing an additional 95,282 shares during the period. Knights of Columbus Asset Advisors LLC owned approximately 0.42% of OFG Bancorp worth $7,348,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. lifted its position in shares of OFG Bancorp by 0.3% during the 1st quarter. BlackRock Inc. now owns 7,235,843 shares of the bank’s stock valued at $192,763,000 after acquiring an additional 21,245 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of OFG Bancorp by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,837,923 shares of the bank’s stock worth $102,243,000 after purchasing an additional 37,270 shares during the period. State Street Corp lifted its holdings in shares of OFG Bancorp by 6.9% during the first quarter. State Street Corp now owns 2,301,099 shares of the bank’s stock valued at $61,646,000 after purchasing an additional 148,014 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of OFG Bancorp by 5.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,442,422 shares of the bank’s stock valued at $35,973,000 after purchasing an additional 68,968 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in OFG Bancorp by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,295,820 shares of the bank’s stock worth $38,693,000 after purchasing an additional 19,117 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Ganesh Kumar sold 9,071 shares of OFG Bancorp stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $35.18, for a total value of $319,117.78. Following the transaction, the insider now owns 144,502 shares of the company’s stock, valued at $5,083,580.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold 34,536 shares of company stock valued at $1,238,317 over the last 90 days. 3.11% of the stock is currently owned by company insiders.

OFG Bancorp Stock Up 3.2 %

Shares of OFG Bancorp stock traded up $1.08 during midday trading on Friday, reaching $34.52. 39,205 shares of the company’s stock traded hands, compared to its average volume of 240,523. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 8.97 and a beta of 1.09. OFG Bancorp has a 52 week low of $22.34 and a 52 week high of $39.04. The company’s 50 day simple moving average is $35.79 and its 200 day simple moving average is $34.65. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.83 and a current ratio of 0.84.

OFG Bancorp (NYSE:OFG) last posted its earnings results on Thursday, April 18th. The bank reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.10. The company had revenue of $213.49 million for the quarter, compared to analyst estimates of $175.20 million. OFG Bancorp had a return on equity of 16.25% and a net margin of 23.62%. During the same period last year, the company earned $0.96 earnings per share. Equities analysts expect that OFG Bancorp will post 3.75 earnings per share for the current fiscal year.

OFG Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.25 dividend. This is a positive change from OFG Bancorp’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Wednesday, March 27th. OFG Bancorp’s payout ratio is 26.18%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company reduced their price target on shares of OFG Bancorp from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th.

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.