OFG Bancorp (OFG) Hits New 52-Week Low at $8.45
OFG Bancorp (NYSE:OFG) shares hit a new 52-week low during trading on Thursday . The company traded as low as $8.45 and last traded at $8.48, with a volume of 128,560 shares trading hands. The stock had previously closed at $8.70.
A number of research analysts have commented on OFG shares. ValuEngine downgraded OFG Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Piper Jaffray Companies restated a “hold” rating and issued a $12.50 target price on shares of OFG Bancorp in a research note on Friday, July 21st. Finally, BidaskClub downgraded OFG Bancorp from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th.
The company has a market capitalization of $371.35 million, a P/E ratio of 7.65 and a beta of 1.50. The stock has a 50 day moving average of $9.54 and a 200-day moving average of $10.58.
OFG Bancorp (NYSE:OFG) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $100.45 million for the quarter, compared to analyst estimates of $90.95 million. OFG Bancorp had a net margin of 14.58% and a return on equity of 8.36%. During the same quarter last year, the firm earned $0.25 EPS. Analysts expect that OFG Bancorp will post $1.12 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Thursday, September 28th. OFG Bancorp’s dividend payout ratio (DPR) is presently 22.02%.
A number of institutional investors have recently made changes to their positions in OFG. Vanguard Group Inc. grew its holdings in OFG Bancorp by 10.4% in the 1st quarter. Vanguard Group Inc. now owns 4,786,813 shares of the bank’s stock worth $56,484,000 after acquiring an additional 452,121 shares during the last quarter. State Street Corp boosted its stake in shares of OFG Bancorp by 31.6% during the 1st quarter. State Street Corp now owns 1,749,823 shares of the bank’s stock valued at $20,653,000 after purchasing an additional 420,589 shares in the last quarter. Schneider Capital Management Corp boosted its stake in shares of OFG Bancorp by 63.9% during the 2nd quarter. Schneider Capital Management Corp now owns 453,706 shares of the bank’s stock valued at $4,537,000 after purchasing an additional 176,958 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of OFG Bancorp by 1,526.3% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 162,960 shares of the bank’s stock valued at $1,630,000 after purchasing an additional 152,940 shares in the last quarter. Finally, LSV Asset Management boosted its stake in shares of OFG Bancorp by 12.4% during the 1st quarter. LSV Asset Management now owns 1,321,306 shares of the bank’s stock valued at $15,591,000 after purchasing an additional 145,360 shares in the last quarter. 99.44% of the stock is currently owned by institutional investors and hedge funds.
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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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