California State Teachers Retirement System trimmed its position in OFG Bancorp (NYSE:OFG) by 8.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,082 shares of the bank’s stock after selling 6,558 shares during the quarter. California State Teachers Retirement System’s holdings in OFG Bancorp were worth $641,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Everence Capital Management Inc. purchased a new stake in shares of OFG Bancorp in the 3rd quarter worth $103,000. Virtu KCG Holdings LLC purchased a new stake in shares of OFG Bancorp in the 2nd quarter worth $117,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of OFG Bancorp in the 2nd quarter worth $127,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of OFG Bancorp in the 3rd quarter worth $141,000. Finally, Trexquant Investment LP purchased a new stake in shares of OFG Bancorp in the 3rd quarter worth $145,000. Institutional investors and hedge funds own 97.13% of the company’s stock.
Several equities research analysts have weighed in on OFG shares. Piper Jaffray Companies reiterated a “hold” rating and issued a $11.00 target price on shares of OFG Bancorp in a report on Friday, October 27th. Sandler O’Neill upgraded 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. ValuEngine upgraded OFG Bancorp from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Keefe, Bruyette & Woods raised OFG Bancorp from a “market perform” rating to an “outperform” rating in a research report on Tuesday, November 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $12.33.
OFG Bancorp (NYSE:OFG) last released its quarterly earnings results on Tuesday, January 30th. The bank reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.21. The firm had revenue of $90.33 million during the quarter, compared to analyst estimates of $86.90 million. OFG Bancorp had a return on equity of 9.61% and a net margin of 12.41%. During the same period in the previous year, the company posted $0.27 EPS. research analysts anticipate that OFG Bancorp will post 1.08 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Thursday, December 28th. OFG Bancorp’s payout ratio is 27.91%.
In related news, Director Jesus Nestor De purchased 5,000 shares of OFG Bancorp stock in a transaction dated Wednesday, November 8th. The stock was purchased at an average cost of $7.95 per share, with a total value of $39,750.00. Following the transaction, the director now owns 5,400 shares in the company, valued at approximately $42,930. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.56% of the company’s stock.
OFG Bancorp 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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