Louisiana State Employees Retirement System Makes New $777,000 Investment in OFG Bancorp $OFG

Louisiana State Employees Retirement System bought a new position in shares of OFG Bancorp (NYSE:OFG) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 19,200 shares of the bank’s stock, valued at approximately $777,000.

A number of other large investors have also recently made changes to their positions in the stock. First Trust Advisors LP lifted its holdings in OFG Bancorp by 8.8% during the 4th quarter. First Trust Advisors LP now owns 2,040,331 shares of the bank’s stock valued at $83,613,000 after buying an additional 164,818 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in OFG Bancorp by 31.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 554,208 shares of the bank’s stock worth $23,720,000 after acquiring an additional 133,046 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in OFG Bancorp in the 4th quarter worth about $4,224,000. Squarepoint Ops LLC increased its position in shares of OFG Bancorp by 990.9% during the fourth quarter. Squarepoint Ops LLC now owns 101,746 shares of the bank’s stock worth $4,170,000 after acquiring an additional 92,419 shares during the period. Finally, Jane Street Group LLC raised its stake in shares of OFG Bancorp by 518.1% during the second quarter. Jane Street Group LLC now owns 109,427 shares of the bank’s stock valued at $4,683,000 after acquiring an additional 91,723 shares in the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OFG has been the topic of several research analyst reports. Piper Sandler reissued a “neutral” rating and issued a $48.00 price objective (up from $43.00) on shares of OFG Bancorp in a research note on Wednesday, April 22nd. Truist Financial lifted their price objective on OFG Bancorp from $44.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Wells Fargo & Company raised their target price on shares of OFG Bancorp from $45.00 to $49.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Zacks Research lowered OFG Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $48.00.

OFG Bancorp Stock Performance

Shares of OFG traded up $0.01 during trading hours on Tuesday, hitting $49.70. The stock had a trading volume of 4,438 shares, compared to its average volume of 342,221. The firm has a 50-day moving average price of $46.44 and a 200 day moving average price of $43.00. OFG Bancorp has a fifty-two week low of $35.71 and a fifty-two week high of $50.66. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 10.27 and a beta of 0.70. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.86 and a current ratio of 0.87.

OFG Bancorp (NYSE:OFG) last posted its quarterly earnings data on Tuesday, March 31st. The bank reported $1.26 EPS for the quarter. The firm had revenue of $185.80 million during the quarter. OFG Bancorp had a return on equity of 15.62% and a net margin of 23.45%. As a group, research analysts anticipate that OFG Bancorp will post 4.75 EPS for the current year.

OFG Bancorp Dividend Announcement

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