Y Intercept Hong Kong Ltd Acquires 13,105 Shares of OFG Bancorp $OFG

by · The Markets Daily

Y Intercept Hong Kong Ltd raised its holdings in OFG Bancorp (NYSE:OFG – Free Report) by 15.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 99,904 shares of the bank’s stock after acquiring an additional 13,105 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in OFG Bancorp were worth $4,042,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of OFG. Quarry LP bought a new stake in shares of OFG Bancorp during the 3rd quarter worth $35,000. EverSource Wealth Advisors LLC raised its holdings in shares of OFG Bancorp by 250.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,533 shares of the bank’s stock valued at $66,000 after buying an additional 1,095 shares in the last quarter. Raymond James Financial Inc. bought a new stake in OFG Bancorp in the 2nd quarter worth approximately $97,000. Quantbot Technologies LP purchased a new stake in OFG Bancorp in the second quarter worth approximately $162,000. Finally, Caxton Associates LLP bought a new position in OFG Bancorp during the third quarter valued at approximately $206,000. 92.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

OFG has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on shares of OFG Bancorp from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 22nd. Truist Financial lifted their target price on shares of OFG Bancorp from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Piper Sandler reiterated a “neutral” rating and issued a $48.00 target price (up from $43.00) on shares of OFG Bancorp in a research report on Wednesday, April 22nd. Finally, Zacks Research downgraded shares of OFG Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $47.20.

View Our Latest Research Report on OFG Bancorp

OFG Bancorp Trading Up 0.0%

NYSE:OFG opened at $49.49 on Monday. The firm has a market capitalization of $2.09 billion, a P/E ratio of 10.22 and a beta of 0.70. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.33. The company has a fifty day moving average of $46.37 and a 200 day moving average of $42.94. OFG Bancorp has a 52 week low of $35.71 and a 52 week high of $50.66.

OFG Bancorp (NYSE:OFG – Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The bank reported $1.26 earnings per share (EPS) for the quarter. OFG Bancorp had a net margin of 23.45% and a return on equity of 15.62%. The business had revenue of $185.80 million for the quarter. On average, research analysts predict that OFG Bancorp will post 4.75 earnings per share for the current year.

OFG Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Tuesday, June 30th. OFG Bancorp’s dividend payout ratio is currently 28.93%.

About OFG Bancorp

(Free Report)

OFG Bancorp, through its principal subsidiary Oriental Bank, is a financial holding company headquartered in San Juan, Puerto Rico. The company provides a wide range of banking services, including commercial and consumer deposit accounts, small business loans, corporate lending, treasury management, and cash management solutions. Its consumer offerings encompass personal checking and savings accounts, credit cards, and electronic banking platforms designed to serve retail customers across its markets.

In addition to traditional banking products, OFG Bancorp offers mortgage origination and servicing, as well as wealth management and trust services for high‐net‐worth individuals and institutional clients.

Further Reading

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