OFG Bancorp (OFG) Stake Increased by Vanguard Group Inc.
Vanguard Group Inc. boosted its stake in OFG Bancorp (NYSE:OFG) by 10.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,786,813 shares of the bank’s stock after buying an additional 452,121 shares during the period. Vanguard Group Inc. owned about 10.89% of OFG Bancorp worth $56,484,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mason Street Advisors LLC boosted 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 valued at $121,000 after buying an additional 673 shares during the period. Brandes Investment Partners LP purchased a new position in shares of OFG Bancorp during the first quarter valued at about $124,000. Neuberger Berman Group LLC boosted 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 valued at $159,000 after buying an additional 126 shares during the period. Acrospire Investment Management LLC boosted its position in shares of OFG Bancorp by 11.1% in the first quarter. Acrospire Investment Management LLC now owns 14,292 shares of the bank’s stock valued at $169,000 after buying an additional 1,429 shares during the period. Finally, Hancock Holding Co. boosted its position in shares of OFG Bancorp by 17.4% in the first quarter. Hancock Holding Co. now owns 15,271 shares of the bank’s stock valued at $180,000 after buying an additional 2,261 shares during the period. 99.44% of the stock is owned by institutional investors and hedge funds.
Shares of OFG Bancorp (OFG) traded down 0.250% on Tuesday, reaching $9.975. 3,581 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $10.05 and a 200-day moving average price of $11.28. The company has a market cap of $438.36 million, a PE ratio of 9.035 and a beta of 1.48. OFG Bancorp has a 12-month low of $9.05 and a 12-month high of $14.48.
OFG Bancorp (NYSE:OFG) last posted its quarterly earnings results on Friday, July 21st. The bank reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. OFG Bancorp had a return on equity of 8.36% and a net margin of 14.58%. The business had revenue of $100.45 million for the quarter, compared to analyst estimates of $90.95 million. During the same quarter in the previous year, the firm earned $0.25 EPS. Equities research analysts anticipate 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 issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.24 annualized dividend and a dividend yield of 2.40%. OFG Bancorp’s dividend payout ratio is presently 22.02%.
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Several research analysts have issued reports on the stock. ValuEngine cut shares of OFG Bancorp from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $14.00 target price on shares of OFG Bancorp in a report on Thursday, April 13th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $12.50 target price on shares of OFG Bancorp in a report on Friday, July 21st. Finally, BidaskClub cut shares of OFG Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th.
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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