Thomas J. Herzfeld Advisors Inc. Sells 10,000 Shares of OFG Bancorp (NYSE:OFG)

Thomas J. Herzfeld Advisors Inc. trimmed its holdings in shares of OFG Bancorp (NYSE:OFG) by 18.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 43,454 shares of the bank’s stock after selling 10,000 shares during the period. Thomas J. Herzfeld Advisors Inc.’s holdings in OFG Bancorp were worth $1,839,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake in OFG Bancorp by 48.9% during the fourth quarter. GAMMA Investing LLC now owns 801 shares of the bank’s stock valued at $34,000 after buying an additional 263 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of OFG Bancorp by 0.5% during the fourth quarter. Prudential Financial Inc. now owns 67,999 shares of the bank’s stock valued at $2,878,000 after acquiring an additional 370 shares in the last quarter. XTX Topco Ltd increased its holdings in shares of OFG Bancorp by 5.2% during the third quarter. XTX Topco Ltd now owns 8,387 shares of the bank’s stock valued at $377,000 after acquiring an additional 413 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of OFG Bancorp by 196.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank’s stock worth $44,000 after purchasing an additional 680 shares during the last quarter. Finally, KBC Group NV boosted its stake in OFG Bancorp by 39.7% in the 4th quarter. KBC Group NV now owns 2,620 shares of the bank’s stock worth $111,000 after purchasing an additional 745 shares in the last quarter. 92.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Keefe, Bruyette & Woods lifted their target price on shares of OFG Bancorp from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Wells Fargo & Company boosted their price objective on shares of OFG Bancorp from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd.

OFG Bancorp Price Performance

Shares of NYSE:OFG opened at $40.02 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.85. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 9.48 and a beta of 0.96. The business has a 50-day simple moving average of $41.83 and a two-hundred day simple moving average of $42.71. 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 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.12. OFG Bancorp had a net margin of 22.71% and a return on equity of 15.80%. During the same quarter in the previous year, the business earned $0.98 earnings per share. On average, analysts expect that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.00%. This is a boost from OFG Bancorp’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. OFG Bancorp’s dividend payout ratio is presently 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.