Knights of Columbus Asset Advisors LLC Has $7.35 Million Stake in OFG Bancorp (NYSE:OFG)

Knights of Columbus Asset Advisors LLC increased its holdings in shares of OFG Bancorp (NYSE:OFG) by 94.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 196,042 shares of the bank’s stock after acquiring an additional 95,282 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in OFG Bancorp were worth $7,348,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in OFG. Federated Hermes Inc. raised its position in shares of OFG Bancorp by 13.8% in the fourth quarter. Federated Hermes Inc. now owns 143,271 shares of the bank’s stock valued at $5,370,000 after purchasing an additional 17,384 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in OFG Bancorp by 7.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,890 shares of the bank’s stock valued at $483,000 after acquiring an additional 931 shares during the period. Louisiana State Employees Retirement System acquired a new stake in OFG Bancorp during the fourth quarter worth approximately $881,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of OFG Bancorp by 6.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,645 shares of the bank’s stock worth $1,036,000 after acquiring an additional 1,725 shares during the period. Finally, SG Americas Securities LLC boosted its stake in OFG Bancorp by 1.5% in the 4th quarter. SG Americas Securities LLC now owns 22,002 shares of the bank’s stock valued at $825,000 after purchasing an additional 329 shares during the period. Institutional investors own 92.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company lowered their price target on shares of OFG Bancorp from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th.

OFG Bancorp Price Performance

Shares of OFG stock traded up $1.08 during trading on Friday, hitting $34.52. The company had a trading volume of 39,205 shares, compared to its average volume of 240,523. The firm has a market capitalization of $1.63 billion, a P/E ratio of 8.97 and a beta of 1.09. OFG Bancorp has a one year low of $22.34 and a one year high of $39.04. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.83 and a current ratio of 0.84. The stock’s 50-day moving average price is $35.79 and its 200 day moving average price is $34.65.

OFG Bancorp (NYSE:OFG) last released its earnings results on Thursday, April 18th. The bank reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.10. OFG Bancorp had a return on equity of 16.25% and a net margin of 23.62%. The firm had revenue of $213.49 million during the quarter, compared to the consensus estimate of $175.20 million. During the same period in the prior year, the company posted $0.96 EPS. Equities analysts expect that OFG Bancorp will post 3.75 EPS for the current fiscal year.

OFG Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.90%. This is an increase from OFG Bancorp’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, March 27th. OFG Bancorp’s dividend payout ratio is presently 26.18%.

Insiders Place Their Bets

In other news, insider Ganesh Kumar sold 9,071 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $35.18, for a total value of $319,117.78. Following the completion of the transaction, the insider now directly owns 144,502 shares in the company, valued at approximately $5,083,580.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 34,536 shares of company stock worth $1,238,317 over the last ninety days. Corporate insiders own 3.11% of the company’s stock.

About OFG Bancorp

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.