OFG Bancorp (OFG) Shares Bought by The Manufacturers Life Insurance Company
The Manufacturers Life Insurance Company grew its stake in shares of OFG Bancorp (NYSE:OFG) by 4.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,499 shares of the bank’s stock after purchasing an additional 1,641 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of OFG Bancorp worth $354,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in OFG. Virtu KCG Holdings LLC acquired a new position in shares of OFG Bancorp in the 2nd quarter valued at $117,000. BNP Paribas Arbitrage SA increased its holdings in shares of OFG Bancorp by 53.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,649 shares of the bank’s stock valued at $136,000 after acquiring an additional 4,775 shares during the period. Neuberger Berman Group LLC increased its holdings in shares of OFG Bancorp by 7.2% in the 2nd quarter. Neuberger Berman Group LLC now owns 14,436 shares of the bank’s stock valued at $144,000 after acquiring an additional 966 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of OFG Bancorp in the 2nd quarter valued at $159,000. Finally, Eagle Global Advisors LLC acquired a new position in shares of OFG Bancorp in the 2nd quarter valued at $175,000. 96.63% of the stock is currently owned by institutional investors.
A number of brokerages have recently commented on OFG. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $11.00 target price on shares of OFG Bancorp in a report on Friday, October 27th. Sandler O’Neill upgraded 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 report on Monday, October 30th. ValuEngine upgraded shares of OFG Bancorp from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Keefe, Bruyette & Woods upgraded shares of OFG Bancorp from a “market perform” rating to an “outperform” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. OFG Bancorp currently has a consensus rating of “Hold” and an average target price of $12.33.
In related news, Director Jesus Nestor De bought 5,000 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were bought at an average cost of $7.95 per share, for a total transaction of $39,750.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at $42,930. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.56% of the stock is currently owned by insiders.
OFG Bancorp (NYSE:OFG) traded down $0.05 during trading hours on Friday, reaching $9.75. 355,469 shares of the company were exchanged, compared to its average volume of 248,251. OFG Bancorp has a 1 year low of $7.80 and a 1 year high of $14.48. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. The stock has a market cap of $428.49, a price-to-earnings ratio of 8.25 and a beta of 1.62.
OFG Bancorp (NYSE:OFG) last posted its quarterly earnings data on Wednesday, October 25th. The bank reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.12. OFG Bancorp had a net margin of 11.92% and a return on equity of 9.05%. The firm had revenue of $98.39 million for the quarter, compared to analyst estimates of $90.60 million. During the same period last year, the firm posted $0.14 EPS. equities research analysts anticipate that OFG Bancorp will post 1.12 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.24 annualized dividend and a dividend yield of 2.46%. OFG Bancorp’s payout ratio is currently 30.00%.
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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