Dimensional Fund Advisors LP lowered its position in OFG Bancorp (NYSE:OFG) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,624,403 shares of the bank’s stock after selling 89,124 shares during the period. Dimensional Fund Advisors LP owned about 8.25% of OFG Bancorp worth $33,163,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Stilwell Value LLC increased its position in shares of OFG Bancorp by 961.5% in the 2nd quarter. Stilwell Value LLC now owns 13,289,640 shares of the bank’s stock valued at $13,290,000 after buying an additional 12,037,639 shares in the last quarter. Vanguard Group Inc. increased its position in shares of OFG Bancorp by 5.7% in the 2nd quarter. Vanguard Group Inc. now owns 5,058,799 shares of the bank’s stock valued at $50,588,000 after buying an additional 271,986 shares in the last quarter. Numeric Investors LLC increased its position in shares of OFG Bancorp by 2.8% in the 2nd quarter. Numeric Investors LLC now owns 1,621,818 shares of the bank’s stock valued at $16,218,000 after buying an additional 44,700 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of OFG Bancorp by 3.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,060,745 shares of the bank’s stock valued at $10,607,000 after buying an additional 36,192 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of OFG Bancorp by 1.5% in the 2nd quarter. Northern Trust Corp now owns 865,897 shares of the bank’s stock valued at $8,660,000 after buying an additional 12,756 shares in the last quarter. Institutional investors and hedge funds own 96.45% of the company’s stock.
In related news, Director Jesus Nestor De bought 5,000 shares of OFG Bancorp stock in a transaction that occurred on Wednesday, November 8th. The stock was purchased at an average cost of $7.95 per share, with a total value of $39,750.00. Following the purchase, the director now owns 5,400 shares in the company, valued at $42,930. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.56% of the stock is currently owned by corporate insiders.
OFG Bancorp (NYSE:OFG) opened at $9.05 on Monday. The firm has a market cap of $397.72, a price-to-earnings ratio of 10.90 and a beta of 1.66. 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 has a one year low of $7.80 and a one year high of $13.85.
OFG Bancorp (NYSE:OFG) last announced its earnings results on Wednesday, October 25th. The bank reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.12. The firm had revenue of $98.39 million during the quarter, compared to analyst estimates of $90.60 million. OFG Bancorp had a net margin of 11.92% and a return on equity of 9.05%. During the same period in the prior year, the business earned $0.14 EPS. analysts predict that OFG Bancorp will post 0.65 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend was Thursday, December 28th. OFG Bancorp’s payout ratio is presently 28.92%.
A number of research firms recently commented on OFG. ValuEngine upgraded shares of OFG Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Keefe, Bruyette & Woods upgraded shares of OFG Bancorp from a “market perform” rating to an “outperform” rating in a research report on Tuesday, November 28th. Piper Jaffray Companies restated a “hold” rating and issued a $11.00 price objective on shares of OFG Bancorp in a research report on Friday, October 27th. Finally, Sandler O’Neill upgraded shares of OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $12.33.
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About OFG Bancorp
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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