Dynamic Technology Lab Private Ltd reduced its holdings in OFG Bancorp (NYSE:OFG) by 55.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,049 shares of the bank’s stock after selling 12,557 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in OFG Bancorp were worth $142,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. WBI Investments Inc. acquired a new stake in shares of OFG Bancorp in the 2nd quarter valued at approximately $1,838,000. Millennium Management LLC acquired a new stake in shares of OFG Bancorp in the 1st quarter valued at approximately $303,000. UBS Group AG lifted its holdings in shares of OFG Bancorp by 61.4% in the 1st quarter. UBS Group AG now owns 80,463 shares of the bank’s stock valued at $840,000 after buying an additional 30,625 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of OFG Bancorp by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 336,846 shares of the bank’s stock valued at $3,520,000 after buying an additional 7,990 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of OFG Bancorp by 7.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 146,125 shares of the bank’s stock valued at $2,053,000 after buying an additional 9,700 shares during the period. 96.72% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently commented on the company. Zacks Investment Research cut OFG Bancorp from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 22nd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $19.00 price objective on shares of OFG Bancorp in a report on Thursday, August 16th. TheStreet raised OFG Bancorp from a “c+” rating to a “b” rating in a report on Monday, July 23rd. Finally, Sandler O’Neill reaffirmed a “buy” rating and set a $18.00 price objective on shares of OFG Bancorp in a report on Friday, July 20th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $17.50.
OFG Bancorp (NYSE:OFG) last issued its quarterly earnings data on Friday, July 20th. The bank reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.10. The firm had revenue of $96.29 million during the quarter, compared to analysts’ expectations of $90.30 million. OFG Bancorp had a return on equity of 10.07% and a net margin of 13.67%. research analysts predict that OFG Bancorp will post 1.39 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.24 annualized dividend and a yield of 1.48%. OFG Bancorp’s dividend payout ratio is presently 18.05%.
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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