Martingale Asset Management L P lifted its position in OFG Bancorp (NYSE:OFG) by 18.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 138,167 shares of the bank’s stock after buying an additional 21,932 shares during the quarter. Martingale Asset Management L P owned approximately 0.31% of OFG Bancorp worth $1,299,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Northern Trust Corp increased its stake in OFG Bancorp by 1.5% in the 2nd quarter. Northern Trust Corp now owns 865,897 shares of the bank’s stock valued at $8,660,000 after purchasing an additional 12,756 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in OFG Bancorp by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 35,499 shares of the bank’s stock worth $354,000 after buying an additional 1,641 shares in the last quarter. Strs Ohio increased its position in OFG Bancorp by 9.2% during the third quarter. Strs Ohio now owns 76,800 shares of the bank’s stock worth $702,000 after buying an additional 6,500 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in OFG Bancorp during the third quarter worth $158,000. Finally, Prudential Financial Inc. boosted its holdings in shares of OFG Bancorp by 5.4% during the third quarter. Prudential Financial Inc. now owns 345,134 shares of the bank’s stock worth $3,158,000 after purchasing an additional 17,690 shares during the last quarter. Hedge funds and other institutional investors own 97.05% of the company’s stock.
Shares of OFG Bancorp (OFG) traded down $0.10 during midday trading on Wednesday, hitting $11.65. The stock had a trading volume of 191,648 shares, compared to its average volume of 307,736. The firm has a market capitalization of $520.78, a P/E ratio of 8.91 and a beta of 1.76. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 0.92. OFG Bancorp has a fifty-two week low of $7.80 and a fifty-two week high of $12.25.
OFG Bancorp (NYSE:OFG) last released its earnings results on Tuesday, January 30th. The bank reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.21. OFG Bancorp had a return on equity of 9.61% and a net margin of 12.41%. The firm had revenue of $90.33 million during the quarter, compared to the consensus estimate of $86.90 million. During the same period in the prior year, the firm posted $0.27 earnings per share. equities research analysts forecast that OFG Bancorp will post 1.08 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 29th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Wednesday, March 28th. OFG Bancorp’s dividend payout ratio (DPR) is presently 27.91%.
Several equities research analysts have recently issued reports on OFG shares. ValuEngine upgraded OFG Bancorp from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Piper Jaffray Companies restated a “hold” rating and set a $12.00 price objective on shares of OFG Bancorp in a research note on Tuesday, February 27th. Finally, Keefe, Bruyette & Woods raised OFG Bancorp from a “market perform” rating to an “outperform” rating in a research report on Tuesday, November 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. OFG Bancorp currently has a consensus rating of “Hold” and an average target price of $12.67.
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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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