Comerica Bank decreased its holdings in OFG Bancorp (NYSE:OFG) by 5.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,912 shares of the bank’s stock after selling 2,593 shares during the period. Comerica Bank owned about 0.10% of OFG Bancorp worth $477,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Mason Street Advisors LLC raised its stake in 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. Fox Run Management L.L.C. bought a new stake in OFG Bancorp in the second quarter valued at approximately $150,000. Neuberger Berman Group LLC raised its stake in 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. Eagle Global Advisors LLC bought a new stake in OFG Bancorp in the second quarter valued at approximately $175,000. Finally, Hancock Holding Co. raised its stake in 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. Hedge funds and other institutional investors own 99.44% of the company’s stock.

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Shares of OFG Bancorp (OFG) opened at 9.40 on Tuesday. The company has a market cap of $413.10 million, a price-to-earnings ratio of 8.51 and a beta of 1.50. The firm has a 50-day moving average price of $9.25 and a 200 day moving average price of $10.31. OFG Bancorp has a 1-year low of $8.40 and a 1-year high of $14.48.

OFG Bancorp (NYSE:OFG) last announced its earnings results on Friday, July 21st. The bank reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. OFG Bancorp had a return on equity of 8.36% and a net margin of 14.58%. The firm had revenue of $100.45 million for the quarter, compared to the consensus estimate of $90.95 million. During the same quarter in the previous year, the business earned $0.25 EPS. On average, analysts predict that OFG Bancorp will post $1.12 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.53%. OFG Bancorp’s payout ratio is presently 22.02%.

OFG has been the topic of several research analyst reports. ValuEngine lowered OFG Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub lowered OFG Bancorp from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $12.50 price objective on shares of OFG Bancorp in a research note on Friday, July 21st.

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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Institutional Ownership by Quarter for OFG Bancorp (NYSE:OFG)

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