LSV Asset Management boosted its stake in shares of OFG Bancorp (NYSE:OFG) by 0.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,324,706 shares of the bank’s stock after acquiring an additional 3,400 shares during the quarter. LSV Asset Management owned 3.01% of OFG Bancorp worth $13,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in OFG Bancorp by 11.9% during the 1st quarter. Bank of New York Mellon Corp now owns 735,271 shares of the bank’s stock valued at $8,676,000 after acquiring an additional 78,295 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in OFG Bancorp by 3.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 768,932 shares of the bank’s stock valued at $9,074,000 after acquiring an additional 25,463 shares during the period. Prudential Financial Inc. boosted its holdings in OFG Bancorp by 1.8% during the 1st quarter. Prudential Financial Inc. now owns 297,194 shares of the bank’s stock valued at $3,507,000 after acquiring an additional 5,220 shares during the period. Strs Ohio boosted its holdings in OFG Bancorp by 12.3% during the 2nd quarter. Strs Ohio now owns 70,300 shares of the bank’s stock valued at $703,000 after acquiring an additional 7,700 shares during the period. Finally, AXA purchased a new stake in OFG Bancorp during the 1st quarter valued at about $227,000. Institutional investors own 99.44% of the company’s stock.
Shares of OFG Bancorp (OFG) opened at 9.50 on Friday. The stock has a market capitalization of $417.50 million, a PE ratio of 8.61 and a beta of 1.50. The company’s 50-day moving average price is $9.33 and its 200 day moving average price is $10.43. OFG Bancorp has a one year low of $8.40 and a one year high of $14.48.
OFG Bancorp (NYSE:OFG) last issued its quarterly earnings data on Friday, July 21st. The bank reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.04. OFG Bancorp had a return on equity of 8.36% and a net margin of 14.58%. The company had revenue of $100.45 million for the quarter, compared to analysts’ expectations of $90.95 million. During the same period in the previous year, the firm posted $0.25 earnings per share. Analysts anticipate that OFG Bancorp will post $1.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.24 annualized dividend and a yield of 2.53%. OFG Bancorp’s payout ratio is currently 22.02%.
Several equities research analysts recently weighed in on OFG shares. ValuEngine cut OFG Bancorp from a “strong-buy” rating to a “buy” rating in a report on Monday, July 17th. Piper Jaffray Companies restated a “hold” rating and set a $12.50 target price on shares of OFG Bancorp in a report on Friday, July 21st. Finally, BidaskClub cut OFG Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th.
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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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