X Square Capital LLC Cuts Position in OFG Bancorp $OFG

X Square Capital LLC decreased its holdings in OFG Bancorp (NYSE:OFG) by 70.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,952 shares of the bank’s stock after selling 114,007 shares during the quarter. X Square Capital LLC owned about 0.11% of OFG Bancorp worth $1,965,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of OFG. CenterBook Partners LP increased its position in shares of OFG Bancorp by 83.2% in the fourth quarter. CenterBook Partners LP now owns 111,190 shares of the bank’s stock valued at $4,557,000 after buying an additional 50,508 shares in the last quarter. Goldman Sachs Group Inc. increased its position in OFG Bancorp by 25.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 281,868 shares of the bank’s stock worth $11,551,000 after purchasing an additional 56,460 shares in the last quarter. Intech Investment Management LLC increased its position in OFG Bancorp by 109.0% during the 4th quarter. Intech Investment Management LLC now owns 148,046 shares of the bank’s stock worth $6,067,000 after purchasing an additional 77,223 shares in the last quarter. New Age Alpha Advisors LLC increased its position in OFG Bancorp by 19.4% during the 4th quarter. New Age Alpha Advisors LLC now owns 43,302 shares of the bank’s stock worth $1,775,000 after purchasing an additional 7,047 shares in the last quarter. Finally, MQS Management LLC purchased a new stake in OFG Bancorp during the 4th quarter worth about $342,000. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the company. Piper Sandler restated a “neutral” rating and issued a $48.00 price target (up from $43.00) on shares of OFG Bancorp in a report on Wednesday, April 22nd. Wells Fargo & Company boosted their price target on OFG Bancorp from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 22nd. Zacks Research upgraded OFG Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Finally, Truist Financial lifted their price objective on OFG Bancorp from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.20.

OFG Bancorp Stock Up 0.2%

NYSE:OFG opened at $46.35 on Tuesday. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 9.58 and a beta of 0.70. OFG Bancorp has a 1-year low of $35.71 and a 1-year high of $46.85. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.33. The business’s fifty day moving average price is $44.13 and its 200 day moving average price is $41.93.

OFG Bancorp (NYSE:OFG) last issued its quarterly earnings data on Tuesday, March 31st. The bank reported $1.26 earnings per share for the quarter. OFG Bancorp had a return on equity of 15.62% and a net margin of 23.45%.The business had revenue of $185.80 million for the quarter. On average, sell-side analysts forecast that OFG Bancorp will post 4.75 earnings per share for the current fiscal year.

OFG Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $0.35 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.0%. OFG Bancorp’s dividend payout ratio (DPR) is currently 28.93%.

OFG Bancorp Company Profile

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.