Brandywine Global Investment Management LLC Sells 5,410 Shares of OFG Bancorp (NYSE:OFG)

Brandywine Global Investment Management LLC trimmed its stake in shares of OFG Bancorp (NYSE:OFG) by 4.5% in the 4th quarter, Holdings Channel reports. The firm owned 114,227 shares of the bank’s stock after selling 5,410 shares during the period. Brandywine Global Investment Management LLC’s holdings in OFG Bancorp were worth $4,834,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OFG. GAMMA Investing LLC raised its stake in OFG Bancorp by 48.9% during the 4th 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. R Squared Ltd purchased a new stake in OFG Bancorp during the fourth quarter valued at $44,000. Smartleaf Asset Management LLC lifted its holdings in OFG Bancorp by 196.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank’s stock valued at $44,000 after acquiring an additional 680 shares during the period. Blue Trust Inc. boosted its position in OFG Bancorp by 84.8% in the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the bank’s stock worth $93,000 after purchasing an additional 946 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of OFG Bancorp by 736.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,385 shares of the bank’s stock valued at $101,000 after purchasing an additional 2,100 shares during the period. Institutional investors own 92.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on OFG shares. Keefe, Bruyette & Woods raised their price objective 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 company an “overweight” rating in a research report on Thursday, January 23rd.

OFG Bancorp Stock Down 0.1 %

OFG stock opened at $39.99 on Wednesday. The business’s 50-day moving average price is $41.74 and its 200-day moving average price is $42.68. The stock has a market cap of $1.82 billion, a P/E ratio of 9.48 and a beta of 0.96. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. OFG Bancorp has a twelve month low of $33.19 and a twelve month high of $47.66.

OFG Bancorp (NYSE:OFG) last posted its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.09 earnings per share 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 earned $0.98 earnings per share. On average, equities research analysts forecast that OFG Bancorp will post 4.18 EPS for the current year.

OFG Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.30 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.20 annualized dividend and a yield of 3.00%. This is an increase from OFG Bancorp’s previous quarterly dividend of $0.25. OFG Bancorp’s dividend payout ratio is currently 28.44%.

OFG Bancorp 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.