First Manhattan Co. Has $400,000 Position in OFG Bancorp (NYSE:OFG)

First Manhattan Co. held its stake in shares of OFG Bancorp (NYSE:OFG) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 40,000 shares of the bank’s stock at the end of the second quarter. First Manhattan Co. owned 0.09% of OFG Bancorp worth $400,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Mason Street Advisors LLC increased its position in shares of OFG Bancorp by 7.0% in the first quarter. Mason Street Advisors LLC now owns 10,269 shares of the bank’s stock valued at $121,000 after buying an additional 673 shares in the last quarter. Brandes Investment Partners LP purchased a new position in shares of OFG Bancorp during the first quarter valued at about $124,000. Neuberger Berman Group LLC increased its position in shares of OFG Bancorp by 0.9% in the first quarter. Neuberger Berman Group LLC now owns 13,470 shares of the bank’s stock valued at $159,000 after buying an additional 126 shares in the last quarter. Acrospire Investment Management LLC increased its position in shares of OFG Bancorp by 11.1% in the first quarter. Acrospire Investment Management LLC now owns 14,292 shares of the bank’s stock valued at $169,000 after buying an additional 1,429 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of OFG Bancorp during the second quarter valued at about $150,000. Institutional investors and hedge funds own 99.44% of the company’s stock.

Shares of OFG Bancorp (NYSE:OFG) traded down 0.56% on Friday, reaching $8.90. 213,807 shares of the company were exchanged. The company has a market cap of $391.13 million, a price-to-earnings ratio of 8.06 and a beta of 1.48. OFG Bancorp has a 12 month low of $8.75 and a 12 month high of $14.48. The company’s 50-day moving average price is $9.91 and its 200 day moving average price is $10.98.

OFG Bancorp (NYSE:OFG) last posted its quarterly earnings results on Friday, July 21st. The bank reported $0.30 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $90.95 million. During the same quarter last year, the firm posted $0.25 EPS. On average, equities research analysts expect that OFG Bancorp will post $1.12 EPS for the current year.

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Several equities analysts recently issued reports on OFG shares. ValuEngine downgraded shares of OFG Bancorp from a “strong-buy” rating to a “buy” rating in a report on Monday, July 17th. BidaskClub downgraded shares of OFG Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $12.50 target price on shares of OFG Bancorp in a research note on Friday, July 21st.

About OFG Bancorp

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.

Institutional Ownership by Quarter for OFG Bancorp (NYSE:OFG)

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