Federated Investors Inc. PA boosted its stake in shares of OFG Bancorp (NYSE:OFG) by 5.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,191 shares of the bank’s stock after purchasing an additional 6,088 shares during the quarter. Federated Investors Inc. PA owned about 0.29% of OFG Bancorp worth $1,272,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. Arizona State Retirement System boosted its position in OFG Bancorp by 0.4% during the second quarter. Arizona State Retirement System now owns 22,944 shares of the bank’s stock worth $229,000 after purchasing an additional 100 shares during the period. Neuberger Berman Group LLC boosted its position in shares of 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 acquiring an additional 126 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of OFG Bancorp by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 17,900 shares of the bank’s stock valued at $211,000 after acquiring an additional 200 shares during the period. Texas Permanent School Fund boosted its position in shares of OFG Bancorp by 0.9% in the second quarter. Texas Permanent School Fund now owns 32,086 shares of the bank’s stock valued at $321,000 after acquiring an additional 291 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of OFG Bancorp by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 31,384 shares of the bank’s stock valued at $370,000 after acquiring an additional 374 shares during the period. 99.44% of the stock is owned by hedge funds and other institutional investors.
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OFG has been the subject of a number of recent research reports. BidaskClub cut shares of OFG Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. Piper Jaffray Companies reissued a “hold” rating and issued a $12.50 target price on shares of OFG Bancorp in a research report on Friday, July 21st. Finally, ValuEngine cut shares of OFG Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd.
Shares of OFG Bancorp (OFG) opened at 9.50 on Friday. The company has a market cap of $417.50 million, a PE ratio of 8.61 and a beta of 1.50. OFG Bancorp has a 12 month low of $8.40 and a 12 month high of $14.48. The stock has a 50 day moving average of $9.33 and a 200-day moving average of $10.43.
OFG Bancorp (NYSE:OFG) last posted its quarterly earnings results on Friday, July 21st. The bank reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.04. The company had revenue of $100.45 million during the quarter, compared to the consensus estimate of $90.95 million. OFG Bancorp had a return on equity of 8.36% and a net margin of 14.58%. During the same quarter in the prior year, the company earned $0.25 EPS. Equities analysts forecast that OFG Bancorp will post $1.12 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.24 annualized dividend and a dividend yield of 2.53%. OFG Bancorp’s payout ratio is 22.02%.
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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