Gallacher Capital Management LLC Sells 1,586 Shares of OFG Bancorp (NYSE:OFG)

Gallacher Capital Management LLC lowered its position in shares of OFG Bancorp (NYSE:OFG) by 15.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 8,597 shares of the bank’s stock after selling 1,586 shares during the quarter. Gallacher Capital Management LLC’s holdings in OFG Bancorp were worth $364,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its position in OFG Bancorp by 48.9% during the fourth quarter. GAMMA Investing LLC now owns 801 shares of the bank’s stock valued at $34,000 after acquiring an additional 263 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in OFG Bancorp by 196.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank’s stock valued at $44,000 after acquiring an additional 680 shares during the last quarter. R Squared Ltd bought a new stake in OFG Bancorp during the fourth quarter valued at $44,000. Blue Trust Inc. boosted its position in OFG Bancorp by 84.8% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the bank’s stock valued at $93,000 after acquiring an additional 946 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in OFG Bancorp by 736.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,385 shares of the bank’s stock valued at $101,000 after acquiring an additional 2,100 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

OFG Bancorp Price Performance

Shares of NYSE OFG opened at $40.60 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. OFG Bancorp has a 1-year low of $33.19 and a 1-year high of $47.66. The firm has a market capitalization of $1.84 billion, a P/E ratio of 9.62 and a beta of 0.96. The firm’s 50-day moving average price is $42.23 and its 200-day moving average price is $43.02.

OFG Bancorp (NYSE:OFG) last posted its earnings results on Wednesday, January 22nd. The bank reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.12. OFG Bancorp had a net margin of 22.71% and a return on equity of 15.80%. During the same period last year, the firm posted $0.98 EPS. Equities research analysts anticipate that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp Increases Dividend

The firm also recently announced 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 represents a $1.20 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Monday, March 31st. This is a positive change from OFG Bancorp’s previous quarterly dividend of $0.25. OFG Bancorp’s dividend payout ratio is currently 28.44%.

Analysts Set New Price Targets

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