A number of other hedge funds and other institutional investors have also made changes to their positions in OFG. Renaissance Technologies LLC purchased a new position in shares of OFG Bancorp during the fourth quarter worth $3,798,000. AQR Capital Management LLC raised its position in shares of OFG Bancorp by 87.2% in the fourth quarter. AQR Capital Management LLC now owns 447,408 shares of the bank’s stock worth $5,861,000 after buying an additional 208,389 shares in the last quarter. LSV Asset Management raised its position in shares of OFG Bancorp by 12.4% in the first quarter. LSV Asset Management now owns 1,321,306 shares of the bank’s stock worth $15,591,000 after buying an additional 145,360 shares in the last quarter. American Century Companies Inc. raised its position in shares of OFG Bancorp by 39.3% in the first quarter. American Century Companies Inc. now owns 479,395 shares of the bank’s stock worth $5,657,000 after buying an additional 135,278 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of OFG Bancorp by 11.9% in the first quarter. Bank of New York Mellon Corp now owns 735,271 shares of the bank’s stock worth $8,676,000 after buying an additional 78,295 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors.
Municipal Employees Retirement System of Michigan held its stake in shares of OFG Bancorp (NYSE:OFG) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,020 shares of the bank’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in OFG Bancorp were worth $118,000 as of its most recent filing with the SEC.
OFG Bancorp (OFG) traded down 2.43% during midday trading on Wednesday, reaching $10.05. The company’s stock had a trading volume of 137,199 shares. The stock has a market capitalization of $441.66 million, a PE ratio of 9.10 and a beta of 1.48. The firm’s 50-day moving average price is $10.05 and its 200-day moving average price is $11.28. OFG Bancorp has a 52 week low of $9.05 and a 52 week high of $14.48.
OFG Bancorp (NYSE:OFG) last issued its earnings results on Friday, July 21st. The bank reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. OFG Bancorp had a net margin of 14.58% and a return on equity of 8.36%. The business had revenue of $100.45 million for the quarter, compared to analyst estimates of $90.95 million. During the same period in the previous year, the business earned $0.25 EPS. On average, analysts anticipate that OFG Bancorp will post $1.13 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.24 annualized dividend and a dividend yield of 2.39%. OFG Bancorp’s dividend payout ratio (DPR) is currently 22.02%.
Several analysts recently commented on the company. ValuEngine downgraded OFG Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 17th. Piper Jaffray Companies restated a “hold” rating and issued a $12.50 target price on shares of OFG Bancorp in a research report on Friday, July 21st. BidaskClub downgraded OFG Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $14.00 target price on shares of OFG Bancorp in a research report on Thursday, April 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $12.83.
OFG Bancorp Company Profile
OFG Bancorp is a financial holding company. The Company is engaged in providing banking and financial services through its subsidiaries. The Company operates through three segments: Banking, Wealth Management and Treasury. The Company provides banking and financial services to its clients through a range of banking and financial solutions, including commercial, consumer, auto, and mortgage lending; checking and savings accounts; financial planning, insurance, financial service, and investment brokerage, and corporate and individual trust and retirement services.