OFG Bancorp (OFG) Position Raised by Vanguard Group Inc.

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.

COPYRIGHT VIOLATION NOTICE: This article was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://www.com-unik.info/2017/11/05/ofg-bancorp-ofg-position-raised-by-vanguard-group-inc.html.

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.

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

What are top analysts saying about OFG Bancorp? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for OFG Bancorp and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit