Kennedy Capital Management LLC Purchases 39,094 Shares of OFG Bancorp (NYSE:OFG)

Kennedy Capital Management LLC raised its stake in OFG Bancorp (NYSE:OFGFree Report) by 28.1% in the third quarter, Holdings Channel reports. The firm owned 178,319 shares of the bank’s stock after acquiring an additional 39,094 shares during the quarter. Kennedy Capital Management LLC’s holdings in OFG Bancorp were worth $5,325,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in OFG. BluePath Capital Management LLC bought a new position in shares of OFG Bancorp during the 3rd quarter worth approximately $32,000. Envestnet Asset Management Inc. lifted its holdings in OFG Bancorp by 1,956.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 178,726 shares of the bank’s stock worth $38,000 after purchasing an additional 170,034 shares during the last quarter. Quantbot Technologies LP lifted its holdings in OFG Bancorp by 734.8% during the 2nd quarter. Quantbot Technologies LP now owns 1,678 shares of the bank’s stock worth $42,000 after purchasing an additional 1,477 shares during the last quarter. Quarry LP lifted its holdings in OFG Bancorp by 101.3% during the 1st quarter. Quarry LP now owns 2,562 shares of the bank’s stock worth $64,000 after purchasing an additional 1,289 shares during the last quarter. Finally, Thomas J. Herzfeld Advisors Inc. acquired a new stake in OFG Bancorp during the 1st quarter worth approximately $188,000. 91.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company lifted their price target on OFG Bancorp from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, January 29th.

Read Our Latest Stock Analysis on OFG Bancorp

Insider Buying and Selling at OFG Bancorp

In other news, Director Jesus Nestor De sold 3,000 shares of OFG Bancorp stock in a transaction on Monday, December 18th. The stock was sold at an average price of $36.94, for a total value of $110,820.00. Following the transaction, the director now owns 17,890 shares in the company, valued at approximately $660,856.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Jesus Nestor De sold 3,000 shares of OFG Bancorp stock in a transaction on Monday, December 18th. The stock was sold at an average price of $36.94, for a total value of $110,820.00. Following the transaction, the director now owns 17,890 shares in the company, valued at approximately $660,856.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ganesh Kumar sold 5,689 shares of OFG Bancorp stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $38.00, for a total value of $216,182.00. Following the completion of the transaction, the insider now owns 125,010 shares in the company, valued at approximately $4,750,380. The disclosure for this sale can be found here. Insiders own 3.11% of the company’s stock.

OFG Bancorp Stock Performance

NYSE:OFG opened at $37.50 on Friday. The stock has a market cap of $1.77 billion, a P/E ratio of 9.82 and a beta of 1.08. The stock has a 50 day simple moving average of $36.32 and a 200 day simple moving average of $33.47. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.17. OFG Bancorp has a 1-year low of $22.34 and a 1-year high of $39.04.

OFG Bancorp (NYSE:OFGGet Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The bank reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.05. The firm had revenue of $208.26 million during the quarter, compared to analysts’ expectations of $172.50 million. OFG Bancorp had a return on equity of 16.25% and a net margin of 23.62%. During the same period in the previous year, the firm earned $0.97 EPS. Research analysts anticipate that OFG Bancorp will post 3.73 earnings per share for the current year.

OFG Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This is a boost from OFG Bancorp’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a yield of 2.67%. OFG Bancorp’s payout ratio is currently 23.04%.

About OFG Bancorp

(Free Report)

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, as well as time deposit products; commercial, consumer, auto leasing, and mortgage lending services; financial planning and insurance services; and corporate and individual trust, and retirement services.

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Institutional Ownership by Quarter for OFG Bancorp (NYSE:OFG)

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