Hancock Holding Co. bought a new position in OFG Bancorp (NYSE:OFG) during the second quarter, Holdings Channel reports. The firm bought 12,305 shares of the company’s stock, valued at approximately $102,000.
Several other hedge funds have also made changes to their positions in OFG. Princeton Alpha Management LP acquired a new stake in shares of OFG Bancorp during the second quarter worth about $108,000. BNP Paribas Arbitrage SA raised its stake in shares of OFG Bancorp by 116.5% in the second quarter. BNP Paribas Arbitrage SA now owns 13,488 shares of the company’s stock worth $112,000 after buying an additional 7,258 shares during the last quarter. Arizona State Retirement System raised its stake in shares of OFG Bancorp by 3.7% in the first quarter. Arizona State Retirement System now owns 22,544 shares of the company’s stock worth $158,000 after buying an additional 800 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of OFG Bancorp by 107.6% in the first quarter. Envestnet Asset Management Inc. now owns 27,856 shares of the company’s stock worth $195,000 after buying an additional 14,440 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of OFG Bancorp by 0.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 30,469 shares of the company’s stock worth $213,000 after buying an additional 261 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.
OFG Bancorp (NYSE:OFG) opened at 10.05 on Friday. OFG Bancorp has a 1-year low of $4.56 and a 1-year high of $11.25. The firm has a market capitalization of $441.33 million, a P/E ratio of 24.16 and a beta of 1.33. The company has a 50-day moving average price of $10.66 and a 200-day moving average price of $8.89.
OFG Bancorp (NYSE:OFG) last issued its quarterly earnings data on Friday, July 22nd. The company reported $0.25 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.25. OFG Bancorp had a net margin of 7.01% and a return on equity of 4.40%. During the same period in the previous year, the firm earned ($0.15) earnings per share. On average, equities research analysts predict that OFG Bancorp will post $0.98 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Wednesday, September 28th. OFG Bancorp’s dividend payout ratio is 57.14%.
A number of analysts have recently issued reports on OFG shares. Zacks Investment Research raised OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Saturday, August 6th. Keefe, Bruyette & Woods lifted their price target on OFG Bancorp from $10.00 to $11.00 and gave the stock a “market perform” rating in a research note on Monday, July 25th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $10.85.
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 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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