Nisa Investment Advisors LLC Has $1,150,000 Stake in OFG Bancorp (NYSE:OFG)
Nisa Investment Advisors LLC maintained its position in shares of OFG Bancorp (NYSE:OFG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,500 shares of the bank’s stock at the end of the second quarter. Nisa Investment Advisors LLC owned 0.27% of OFG Bancorp worth $1,150,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Neuberger Berman Group LLC raised its position in shares of OFG Bancorp by 0.9% in the first quarter. Neuberger Berman Group LLC now owns 13,470 shares of the bank’s stock worth $159,000 after buying an additional 126 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of OFG Bancorp by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 17,900 shares of the bank’s stock worth $211,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System raised its position in shares of OFG Bancorp by 0.9% in the first quarter. Arizona State Retirement System now owns 22,844 shares of the bank’s stock worth $270,000 after buying an additional 200 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of OFG Bancorp by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 31,384 shares of the bank’s stock worth $370,000 after buying an additional 374 shares in the last quarter. Finally, Mason Street Advisors LLC raised its position in shares of OFG Bancorp by 7.0% in the first quarter. Mason Street Advisors LLC now owns 10,269 shares of the bank’s stock worth $121,000 after buying an additional 673 shares in the last quarter. 99.83% of the stock is currently owned by hedge funds and other institutional investors.
OFG Bancorp (NYSE OFG) traded up 3.02% during mid-day trading on Friday, hitting $10.25. The stock had a trading volume of 169,312 shares. OFG Bancorp has a 52 week low of $9.05 and a 52 week high of $14.48. The stock has a market capitalization of $450.45 million, a P/E ratio of 9.28 and a beta of 1.48. The company’s 50 day moving average is $10.05 and its 200-day moving average is $11.28.
OFG Bancorp (NYSE:OFG) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.04. The company had revenue of $100.45 million during the quarter, compared to analysts’ expectations of $90.95 million. OFG Bancorp had a return on equity of 8.36% and a net margin of 14.58%. During the same period in the previous year, the business earned $0.25 earnings per share. On average, analysts expect that OFG Bancorp will post $1.12 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Wednesday, June 28th. OFG Bancorp’s dividend payout ratio (DPR) is presently 22.02%.
A number of brokerages have commented on OFG. BidaskClub lowered OFG Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $14.00 target price on shares of OFG Bancorp in a report on Thursday, April 13th. Piper Jaffray Companies reissued a “hold” rating and set a $12.50 target price on shares of OFG Bancorp in a report on Friday, July 21st. Finally, ValuEngine lowered OFG Bancorp from a “strong-buy” rating to a “buy” rating in a report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $12.83.
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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