Elizabeth Park Capital Advisors Ltd. Trims Holdings in OFG Bancorp (NYSE:OFG)

Elizabeth Park Capital Advisors Ltd. cut its position in shares of OFG Bancorp (NYSE:OFG) by 30.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,719 shares of the bank’s stock after selling 21,977 shares during the quarter. Elizabeth Park Capital Advisors Ltd.’s holdings in OFG Bancorp were worth $2,104,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of OFG. FMR LLC lifted its holdings in shares of OFG Bancorp by 8.1% during the 3rd quarter. FMR LLC now owns 205,745 shares of the bank’s stock worth $9,242,000 after acquiring an additional 15,498 shares during the period. BNP Paribas Financial Markets raised its stake in OFG Bancorp by 109.2% during the third quarter. BNP Paribas Financial Markets now owns 35,302 shares of the bank’s stock worth $1,586,000 after purchasing an additional 18,425 shares during the period. Paloma Partners Management Co acquired a new position in shares of OFG Bancorp in the 3rd quarter valued at $234,000. Centiva Capital LP grew its stake in shares of OFG Bancorp by 12.9% during the 3rd quarter. Centiva Capital LP now owns 14,592 shares of the bank’s stock valued at $655,000 after buying an additional 1,665 shares during the period. Finally, State Street Corp increased its holdings in shares of OFG Bancorp by 0.9% during the 3rd quarter. State Street Corp now owns 2,177,560 shares of the bank’s stock worth $98,354,000 after buying an additional 19,372 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

OFG Bancorp Price Performance

Shares of NYSE OFG opened at $34.96 on Friday. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 8.28 and a beta of 0.74. The business has a 50-day moving average of $41.36 and a 200-day moving average of $42.55. 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 $33.19 and a 1-year high of $47.66.

OFG Bancorp (NYSE:OFG) last issued its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.09 EPS for the quarter, topping analysts’ consensus estimates 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 period last year, the company posted $0.98 EPS. On average, equities analysts anticipate that OFG Bancorp will post 4.18 EPS for the current fiscal year.

OFG Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.43%. This is a positive change 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%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OFG. Wells Fargo & Company lifted their target price on OFG Bancorp from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Keefe, Bruyette & Woods raised their price target on shares of OFG Bancorp from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd.

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.