CenterBook Partners LP Has $4.56 Million Stock Holdings in OFG Bancorp $OFG

CenterBook Partners LP increased its position in OFG Bancorp (NYSE:OFG) by 83.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,190 shares of the bank’s stock after buying an additional 50,508 shares during the period. CenterBook Partners LP owned 0.25% of OFG Bancorp worth $4,557,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. First Trust Advisors LP grew its stake in shares of OFG Bancorp by 6.5% in the 3rd quarter. First Trust Advisors LP now owns 1,875,513 shares of the bank’s stock valued at $81,566,000 after buying an additional 113,868 shares during the period. American Century Companies Inc. grew its stake in shares of OFG Bancorp by 8.1% in the 3rd quarter. American Century Companies Inc. now owns 1,458,026 shares of the bank’s stock valued at $63,410,000 after buying an additional 108,635 shares during the period. LSV Asset Management grew its stake in shares of OFG Bancorp by 4.4% in the 3rd quarter. LSV Asset Management now owns 1,350,024 shares of the bank’s stock valued at $58,713,000 after buying an additional 56,400 shares during the period. Millennium Management LLC grew its stake in shares of OFG Bancorp by 7.8% in the 3rd quarter. Millennium Management LLC now owns 796,892 shares of the bank’s stock valued at $34,657,000 after buying an additional 57,572 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of OFG Bancorp by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 608,572 shares of the bank’s stock valued at $26,467,000 after buying an additional 28,114 shares during the period. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

OFG Bancorp Price Performance

OFG stock opened at $46.35 on Tuesday. The company has a market capitalization of $1.96 billion, a P/E ratio of 9.58 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 has a 52-week low of $35.71 and a 52-week high of $46.85. The business has a 50-day simple moving average of $44.13 and a two-hundred day simple moving average of $41.93.

OFG Bancorp (NYSE:OFG) last released its quarterly earnings results on Tuesday, March 31st. The bank reported $1.26 earnings per share (EPS) for the quarter. The business 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%. Research analysts expect that OFG Bancorp will post 4.75 EPS for the current fiscal year.

OFG Bancorp Dividend Announcement

The business also recently declared 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 is Tuesday, June 30th. This represents a $1.40 dividend on an annualized basis and a yield of 3.0%. OFG Bancorp’s payout ratio is 28.93%.

OFG Bancorp 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.