Victory Capital Management Inc. Grows Stock Holdings in OFG Bancorp (NYSE:OFG)

Victory Capital Management Inc. boosted its holdings in OFG Bancorp (NYSE:OFG) by 21.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 204,971 shares of the bank’s stock after purchasing an additional 35,561 shares during the quarter. Victory Capital Management Inc.’s holdings in OFG Bancorp were worth $8,674,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OFG. Janney Montgomery Scott LLC bought a new position in OFG Bancorp during the third quarter valued at $759,000. Los Angeles Capital Management LLC increased its holdings in OFG Bancorp by 26.1% during the 3rd quarter. Los Angeles Capital Management LLC now owns 19,931 shares of the bank’s stock worth $895,000 after purchasing an additional 4,124 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of OFG Bancorp by 26.2% during the third quarter. Thrivent Financial for Lutherans now owns 128,514 shares of the bank’s stock valued at $5,773,000 after buying an additional 26,654 shares during the period. Intech Investment Management LLC raised its holdings in shares of OFG Bancorp by 411.3% in the 3rd quarter. Intech Investment Management LLC now owns 64,391 shares of the bank’s stock valued at $2,892,000 after purchasing an additional 51,798 shares in the last quarter. Finally, Foundry Partners LLC bought a new position in OFG Bancorp in the third quarter worth approximately $6,038,000. Institutional investors own 92.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OFG. Wells Fargo & Company increased their target price 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 lifted their price target on OFG Bancorp from $53.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd.

OFG Bancorp Stock Performance

NYSE OFG opened at $39.66 on Friday. The firm has a market capitalization of $1.80 billion, a P/E ratio of 9.40 and a beta of 0.96. The stock has a 50-day simple moving average of $42.31 and a two-hundred day simple moving average of $43.09. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.85. OFG Bancorp has a fifty-two week low of $33.19 and a fifty-two week high of $47.66.

OFG Bancorp (NYSE:OFG) last released its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.09 EPS for the quarter, topping the consensus estimate of $0.97 by $0.12. OFG Bancorp had a return on equity of 15.80% and a net margin of 22.71%. During the same period last year, the firm posted $0.98 EPS. On average, equities analysts forecast that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.30 dividend. 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 yield of 3.03%. OFG Bancorp’s dividend payout ratio (DPR) is currently 28.44%.

OFG Bancorp Company 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.