Vanguard Group Inc. increased its position in shares of OFG Bancorp (NYSE:OFG) by 5.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,058,799 shares of the bank’s stock after purchasing an additional 271,986 shares during the quarter. Vanguard Group Inc. owned 11.51% of OFG Bancorp worth $50,588,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of OFG. State Street Corp lifted its position in OFG Bancorp by 31.6% during the first quarter. State Street Corp now owns 1,749,823 shares of the bank’s stock worth $20,653,000 after purchasing an additional 420,589 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in OFG Bancorp by 1,526.3% during the second quarter. Municipal Employees Retirement System of Michigan now owns 162,960 shares of the bank’s stock worth $1,630,000 after purchasing an additional 152,940 shares during the period. Citigroup Inc. lifted its position in OFG Bancorp by 233.9% during the second quarter. Citigroup Inc. now owns 180,200 shares of the bank’s stock worth $1,802,000 after purchasing an additional 126,226 shares during the period. Russell Investments Group Ltd. lifted its position in OFG Bancorp by 11.3% during the second quarter. Russell Investments Group Ltd. now owns 958,265 shares of the bank’s stock worth $9,582,000 after purchasing an additional 96,946 shares during the period. Finally, AQR Capital Management LLC lifted its position in OFG Bancorp by 20.4% during the first quarter. AQR Capital Management LLC now owns 538,683 shares of the bank’s stock worth $6,357,000 after purchasing an additional 91,275 shares during the period. 96.75% of the stock is owned by institutional investors and hedge funds.
OFG Bancorp (OFG) opened at $8.30 on Friday. The firm has a market capitalization of $364.76, a P/E ratio of 6.75 and a beta of 1.62. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.89 and a current ratio of 0.92.
OFG Bancorp (NYSE:OFG) last posted its earnings results on Wednesday, October 25th. The bank reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.12. The firm had revenue of $98.39 million during the quarter, compared to analysts’ expectations of $90.60 million. OFG Bancorp had a net margin of 11.92% and a return on equity of 9.05%. During the same quarter in the prior year, the business earned $0.14 earnings per share. equities analysts anticipate that OFG Bancorp will post 1.12 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a $0.06 dividend. The ex-dividend date was Thursday, September 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.89%. OFG Bancorp’s dividend payout ratio (DPR) is currently 28.92%.
OFG has been the subject of a number of research reports. Piper Jaffray Companies reissued a “hold” rating and issued a $11.00 target price on shares of OFG Bancorp in a report on Friday, October 27th. ValuEngine cut shares of OFG Bancorp from a “strong-buy” rating to a “buy” rating in a report on Monday, July 17th. BidaskClub cut shares of OFG Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. Finally, Sandler O’Neill raised shares of OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $12.33.
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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.
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