OxFORD Asset Management LLP reduced its holdings in OFG Bancorp (NYSE:OFG) by 50.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 113,177 shares of the bank’s stock after selling 116,783 shares during the quarter. OxFORD Asset Management LLP owned about 0.26% of OFG Bancorp worth $1,041,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Arizona State Retirement System grew its position in shares of OFG Bancorp by 0.4% in the second quarter. Arizona State Retirement System now owns 22,944 shares of the bank’s stock valued at $229,000 after purchasing an additional 100 shares during the last quarter. Texas Permanent School Fund grew its position in shares of OFG Bancorp by 0.9% in the second quarter. Texas Permanent School Fund now owns 32,086 shares of the bank’s stock valued at $321,000 after purchasing an additional 291 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of OFG Bancorp by 0.6% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 85,660 shares of the bank’s stock valued at $857,000 after buying an additional 500 shares during the period. Neuberger Berman Group LLC lifted its stake in shares of OFG Bancorp by 7.2% in the second quarter. Neuberger Berman Group LLC now owns 14,436 shares of the bank’s stock valued at $144,000 after buying an additional 966 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of OFG Bancorp by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 35,499 shares of the bank’s stock valued at $354,000 after buying an additional 1,641 shares during the period. 96.49% of the stock is currently owned by institutional investors.
Several equities research analysts recently weighed in on OFG shares. Keefe, Bruyette & Woods upgraded shares of OFG Bancorp from a “market perform” rating to an “outperform” rating in a research note on Tuesday, November 28th. Piper Jaffray Companies reiterated a “hold” rating and issued a $11.50 target price on shares of OFG Bancorp in a research note on Friday, October 6th. ValuEngine upgraded shares of OFG Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Sandler O’Neill upgraded shares of OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. OFG Bancorp currently has a consensus rating of “Hold” and a consensus price target of $12.33.
OFG Bancorp (NYSE:OFG) last released its earnings results on Wednesday, October 25th. The bank reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.12. OFG Bancorp had a net margin of 11.92% and a return on equity of 9.05%. The business had revenue of $98.39 million during the quarter, compared to analysts’ expectations of $90.60 million. During the same quarter last year, the company earned $0.14 earnings per share. research analysts forecast that OFG Bancorp will post 1.12 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Thursday, December 28th. OFG Bancorp’s payout ratio is presently 28.92%.
In other OFG Bancorp news, Director Jesus Nestor De purchased 5,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was purchased at an average price of $7.95 per share, for a total transaction of $39,750.00. Following the completion of the purchase, the director now directly owns 5,400 shares in the company, valued at $42,930. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.56% of the stock is owned by company insiders.
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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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