Oxford Asset Management LLP Invests $225,000 in OFG Bancorp (NYSE:OFG)

by · The Cerbat Gem

Oxford Asset Management LLP bought a new stake in shares of OFG Bancorp (NYSE:OFG – Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,305 shares of the bank’s stock, valued at approximately $225,000.

A number of other hedge funds have also recently made changes to their positions in OFG. GAMMA Investing LLC raised its position in shares of OFG Bancorp by 48.9% in the 4th quarter. GAMMA Investing LLC now owns 801 shares of the bank’s stock worth $34,000 after purchasing an additional 263 shares during the last quarter. TD Waterhouse Canada Inc. increased its stake in OFG Bancorp by 1.8% during the 4th quarter. TD Waterhouse Canada Inc. now owns 21,041 shares of the bank’s stock valued at $890,000 after purchasing an additional 369 shares in the last quarter. Prudential Financial Inc. raised its holdings in OFG Bancorp by 0.5% in the fourth quarter. Prudential Financial Inc. now owns 67,999 shares of the bank’s stock worth $2,878,000 after buying an additional 370 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of OFG Bancorp by 9.0% in the fourth quarter. Bank of Montreal Can now owns 5,295 shares of the bank’s stock worth $224,000 after buying an additional 438 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of OFG Bancorp by 196.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank’s stock worth $44,000 after buying an additional 680 shares in the last quarter. 92.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on OFG shares. Piper Sandler lowered their price objective on OFG Bancorp from $44.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday. Wells Fargo & Company downgraded OFG Bancorp from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $48.00 to $42.00 in a report on Wednesday, April 9th. Keefe, Bruyette & Woods reduced their price objective on OFG Bancorp from $53.00 to $48.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Hovde Group lowered their target price on shares of OFG Bancorp from $53.50 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday.

Check Out Our Latest Report on OFG

OFG Bancorp Stock Performance

OFG stock opened at $38.01 on Monday. 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 1 year low of $33.15 and a 1 year high of $47.66. The company has a market cap of $1.73 billion, a P/E ratio of 9.01 and a beta of 0.74. The stock’s fifty day moving average price is $38.94 and its 200-day moving average price is $41.62.

OFG Bancorp (NYSE:OFG – Get Free Report) last announced its earnings results on Wednesday, April 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.02). OFG Bancorp had a return on equity of 15.80% and a net margin of 22.71%. The firm had revenue of $178.30 million during the quarter, compared to analysts’ expectations of $175.35 million. On average, equities analysts forecast that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.30 per share. This is a boost from OFG Bancorp’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend was Monday, March 31st. OFG Bancorp’s dividend payout ratio is currently 28.78%.

OFG Bancorp Company Profile

(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, 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.

Further Reading

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