Ajo LP lowered its position in OFG Bancorp (NYSE:OFG) by 33.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 420,731 shares of the bank’s stock after selling 211,490 shares during the period. Ajo LP owned approximately 0.96% of OFG Bancorp worth $4,207,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in OFG Bancorp by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 4,786,813 shares of the bank’s stock worth $56,484,000 after purchasing an additional 452,121 shares during the last quarter. State Street Corp grew its position in OFG Bancorp by 31.6% during the 1st quarter. State Street Corp now owns 1,749,823 shares of the bank’s stock worth $20,653,000 after purchasing an additional 420,589 shares during the last quarter. Stilwell Value LLC grew its position in OFG Bancorp by 6.1% during the 2nd quarter. Stilwell Value LLC now owns 1,328,964 shares of the bank’s stock worth $13,290,000 after purchasing an additional 76,963 shares during the last quarter. LSV Asset Management grew its position in OFG Bancorp by 0.3% during the 2nd quarter. LSV Asset Management now owns 1,324,706 shares of the bank’s stock worth $13,247,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its position in OFG Bancorp by 2.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 1,024,553 shares of the bank’s stock worth $12,090,000 after purchasing an additional 23,282 shares during the last quarter. 99.44% of the stock is currently owned by hedge funds and other institutional investors.
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OFG has been the topic of several research analyst reports. ValuEngine downgraded shares of OFG Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 17th. BidaskClub downgraded shares of OFG Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $12.50 target price on shares of OFG Bancorp in a research report on Friday, July 21st.
Shares of OFG Bancorp (NYSE OFG) opened at 9.60 on Friday. OFG Bancorp has a 52-week low of $8.40 and a 52-week high of $14.48. The firm’s 50-day moving average is $9.31 and its 200 day moving average is $10.40. The stock has a market cap of $421.89 million, a P/E ratio of 8.70 and a beta of 1.50.
OFG Bancorp (NYSE:OFG) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.04. The company had revenue of $100.45 million for the quarter, compared to analyst estimates of $90.95 million. OFG Bancorp had a net margin of 14.58% and a return on equity of 8.36%. During the same period in the prior year, the firm posted $0.25 earnings per share. Analysts forecast that OFG Bancorp will post $1.12 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a $0.06 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.24 annualized dividend and a yield of 2.50%. OFG Bancorp’s dividend payout ratio is currently 22.02%.
OFG Bancorp 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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