LSV Asset Management grew its stake in shares of OFG Bancorp (NYSE:OFG) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,342,806 shares of the bank’s stock after buying an additional 18,100 shares during the quarter. LSV Asset Management’s holdings in OFG Bancorp were worth $12,622,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Macquarie Group Ltd. bought a new stake in shares of OFG Bancorp during the 3rd quarter worth about $626,000. Thrivent Financial For Lutherans raised its position in shares of OFG Bancorp by 148.6% during the 2nd quarter. Thrivent Financial For Lutherans now owns 62,141 shares of the bank’s stock worth $621,000 after buying an additional 37,141 shares in the last quarter. California Public Employees Retirement System raised its position in shares of OFG Bancorp by 15.0% during the 3rd quarter. California Public Employees Retirement System now owns 209,699 shares of the bank’s stock worth $1,919,000 after buying an additional 27,299 shares in the last quarter. Vanguard Group Inc. raised its position in shares of OFG Bancorp by 5.7% during the 2nd quarter. Vanguard Group Inc. now owns 5,058,799 shares of the bank’s stock worth $50,588,000 after buying an additional 271,986 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its position in shares of OFG Bancorp by 124.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 28,613 shares of the bank’s stock worth $262,000 after buying an additional 15,876 shares in the last quarter. Institutional investors own 97.42% of the company’s stock.
A number of analysts have commented on OFG shares. Keefe, Bruyette & Woods upgraded shares of OFG Bancorp from a “market perform” rating to an “outperform” rating in a research report on Tuesday, November 28th. ValuEngine raised shares of OFG Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Sandler O’Neill raised shares of OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Monday, October 30th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $11.00 price objective on shares of OFG Bancorp in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $12.33.
OFG Bancorp (NYSE:OFG) last announced its quarterly earnings data on Tuesday, January 30th. The bank reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.21. The company had revenue of $90.33 million for the quarter, compared to analysts’ expectations of $86.90 million. OFG Bancorp had a net margin of 12.41% and a return on equity of 9.61%. During the same quarter in the previous year, the company posted $0.27 EPS. research analysts expect that OFG Bancorp will post 1.08 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were paid a $0.06 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.24 annualized dividend and a dividend yield of 2.21%. OFG Bancorp’s dividend payout ratio is currently 27.91%.
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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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