Meeder Asset Management Inc. Makes New $44,000 Investment in OFG Bancorp (NYSE:OFG)

Meeder Asset Management Inc. acquired a new stake in shares of OFG Bancorp (NYSE:OFG) during the 4th quarter, Holdings Channel reports. The firm acquired 1,043 shares of the bank’s stock, valued at approximately $44,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC raised its position in shares of OFG Bancorp by 48.9% during the fourth quarter. GAMMA Investing LLC now owns 801 shares of the bank’s stock worth $34,000 after purchasing an additional 263 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of OFG Bancorp by 196.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank’s stock worth $44,000 after acquiring an additional 680 shares during the last quarter. R Squared Ltd acquired a new stake in shares of OFG Bancorp in the 4th quarter worth about $44,000. Blue Trust Inc. lifted its position in OFG Bancorp by 84.8% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the bank’s stock valued at $93,000 after acquiring an additional 946 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in 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 last quarter. Institutional investors own 92.73% of the company’s stock.

OFG Bancorp Price Performance

OFG Bancorp stock opened at $39.99 on Wednesday. OFG Bancorp has a 52 week low of $33.19 and a 52 week high of $47.66. The company’s 50 day moving average price is $41.74 and its two-hundred 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 (NYSE:OFG) last issued its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.12. OFG Bancorp had a return on equity of 15.80% and a net margin of 22.71%. During the same quarter last year, the company earned $0.98 EPS. On average, equities analysts predict that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Increases Dividend

The business also recently declared 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. This is an increase from OFG Bancorp’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Monday, March 31st. OFG Bancorp’s payout ratio is 28.44%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on OFG shares. Keefe, Bruyette & Woods raised their target price on OFG Bancorp from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Wells Fargo & Company raised their price objective on OFG Bancorp from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd.

OFG Bancorp Company 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.