Dimensional Fund Advisors LP Trims Position in OFG Bancorp (OFG)

Dimensional Fund Advisors LP cut its position in shares of OFG Bancorp (NYSE:OFG) by 0.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,700,377 shares of the bank’s stock after selling 7,557 shares during the quarter. Dimensional Fund Advisors LP owned 8.41% of OFG Bancorp worth $51,991,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. WBI Investments Inc. acquired a new position in OFG Bancorp during the second quarter worth $1,838,000. Millennium Management LLC acquired a new position in OFG Bancorp during the first quarter worth $303,000. Principal Financial Group Inc. raised its holdings in OFG Bancorp by 2.4% during the first quarter. Principal Financial Group Inc. now owns 336,846 shares of the bank’s stock worth $3,520,000 after purchasing an additional 7,990 shares during the last quarter. UBS Group AG raised its holdings in OFG Bancorp by 61.4% during the first quarter. UBS Group AG now owns 80,463 shares of the bank’s stock worth $840,000 after purchasing an additional 30,625 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in OFG Bancorp by 7.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 146,125 shares of the bank’s stock worth $2,053,000 after purchasing an additional 9,700 shares during the last quarter. 96.72% of the stock is owned by hedge funds and other institutional investors.

OFG Bancorp stock opened at $16.20 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.21. The firm has a market cap of $712.53 million, a price-to-earnings ratio of 12.22 and a beta of 1.80. OFG Bancorp has a fifty-two week low of $7.80 and a fifty-two week high of $17.75.

OFG Bancorp (NYSE:OFG) last released its quarterly earnings results on Friday, July 20th. The bank reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.10. The company had revenue of $96.29 million during the quarter, compared to the consensus estimate of $90.30 million. OFG Bancorp had a return on equity of 10.07% and a net margin of 13.67%. research analysts anticipate that OFG Bancorp will post 1.39 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.48%. The ex-dividend date is Thursday, September 27th. OFG Bancorp’s payout ratio is 18.05%.

Several equities analysts recently issued reports on OFG shares. TheStreet raised OFG Bancorp from a “c+” rating to a “b” rating in a report on Monday, July 23rd. Piper Jaffray Companies reissued a “buy” rating on shares of OFG Bancorp in a research report on Monday, July 23rd. Zacks Investment Research downgraded OFG Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Finally, Sandler O’Neill reissued a “buy” rating and set a $18.00 price target on shares of OFG Bancorp in a research report on Friday, July 20th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. OFG Bancorp presently has a consensus rating of “Buy” and an average price target of $17.50.

About OFG Bancorp

OFG Bancorp, a financial holding company, provides various banking and financial services. It operates in three segments: Banking, Wealth Management, and Treasury. The company offers checking and savings accounts, as well as time deposit products; commercial, consumer, auto, and mortgage lending products; and financial planning, investment brokerage, corporate and individual trust, and retirement services.

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Institutional Ownership by Quarter for OFG Bancorp (NYSE:OFG)

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