Vanguard Group Inc. boosted its stake in OFG Bancorp (NYSE:OFG) by 5.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,058,799 shares of the bank’s stock after acquiring an additional 271,986 shares during the quarter. Vanguard Group Inc. owned 11.51% of OFG Bancorp worth $50,588,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Northern Trust Corp boosted its stake in OFG Bancorp by 1.5% during the 2nd quarter. Northern Trust Corp now owns 865,897 shares of the bank’s stock worth $8,660,000 after purchasing an additional 12,756 shares during the last quarter. Citigroup Inc. boosted its position in shares of OFG Bancorp by 233.9% during the 2nd quarter. Citigroup Inc. now owns 180,200 shares of the bank’s stock valued at $1,802,000 after acquiring an additional 126,226 shares during the last quarter. Thrivent Financial For Lutherans boosted its position in shares of OFG Bancorp by 148.6% during the 2nd quarter. Thrivent Financial For Lutherans now owns 62,141 shares of the bank’s stock valued at $621,000 after acquiring an additional 37,141 shares during the last quarter. Nationwide Fund Advisors boosted its position in shares of OFG Bancorp by 11.6% during the 2nd quarter. Nationwide Fund Advisors now owns 83,693 shares of the bank’s stock valued at $837,000 after acquiring an additional 8,700 shares during the last quarter. Finally, Teachers Advisors LLC boosted its position in shares of OFG Bancorp by 11.0% during the 2nd quarter. Teachers Advisors LLC now owns 105,389 shares of the bank’s stock valued at $1,054,000 after acquiring an additional 10,434 shares during the last quarter. 96.93% of the stock is currently owned by hedge funds and other institutional investors.
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In related news, Director Jesus Nestor De acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were acquired at an average price of $7.95 per share, with a total value of $39,750.00. Following the completion of the purchase, the director now directly owns 5,400 shares in the company, valued at $42,930. The purchase was disclosed in a document filed with the SEC, which is available through this link. 2.56% of the stock is owned by company insiders.
A number of analysts recently weighed in on the stock. Piper Jaffray Companies restated a “hold” rating and set a $11.00 target price on shares of OFG Bancorp in a research note on Friday, October 27th. ValuEngine downgraded OFG Bancorp from a “strong-buy” rating to a “buy” rating in a report on Monday, July 17th. BidaskClub downgraded OFG Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. Finally, Sandler O’Neill raised OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Monday, October 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $12.33.
OFG Bancorp (NYSE:OFG) opened at $8.30 on Tuesday. OFG Bancorp has a 52-week low of $7.80 and a 52-week high of $14.48. The stock has a market capitalization of $369.16, a price-to-earnings ratio of 6.83 and a beta of 1.62. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.91 and a quick ratio of 0.90.
OFG Bancorp (NYSE:OFG) last announced its quarterly earnings results 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. The business had revenue of $98.39 million during the quarter, compared to analysts’ expectations of $90.60 million. OFG Bancorp had a return on equity of 9.05% and a net margin of 11.92%. During the same quarter last year, the business posted $0.14 earnings per share. equities analysts expect that OFG Bancorp will post 1.12 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend was Thursday, September 28th. OFG Bancorp’s payout ratio is currently 28.92%.
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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