State Board of Administration of Florida Retirement System decreased its position in shares of OFG Bancorp (NYSE:OFG) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,393 shares of the company’s stock after selling 175 shares during the period. State Board of Administration of Florida Retirement System owned 0.12% of OFG Bancorp worth $435,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of OFG Bancorp by 218.0% in the first quarter. Wellington Management Group LLP now owns 4,130,883 shares of the company’s stock valued at $28,875,000 after buying an additional 2,831,877 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in shares of OFG Bancorp during the second quarter valued at about $10,449,000. Prudential Financial Inc. increased its position in shares of OFG Bancorp by 173.6% in the first quarter. Prudential Financial Inc. now owns 276,764 shares of the company’s stock valued at $1,935,000 after buying an additional 175,600 shares in the last quarter. Nisa Investment Advisors L.L.C. bought a new position in shares of OFG Bancorp during the first quarter valued at about $921,000. Finally, Strs Ohio bought a new position in shares of OFG Bancorp during the second quarter valued at about $655,000. Institutional investors own 97.79% of the company’s stock.
Shares of OFG Bancorp (NYSE:OFG) traded down 2.06% on Friday, reaching $9.97. The company’s stock had a trading volume of 161,459 shares. The stock has a 50-day moving average of $10.44 and a 200 day moving average of $9.12. OFG Bancorp has a 1-year low of $4.56 and a 1-year high of $11.25. The stock has a market capitalization of $437.81 million, a PE ratio of 23.97 and a beta of 1.32.
OFG Bancorp (NYSE:OFG) last posted its quarterly earnings data on Friday, July 22nd. The company reported $0.25 earnings per share (EPS) for the quarter, meeting the 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 analysts forecast that OFG Bancorp will post $0.98 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Wednesday, September 28th. OFG Bancorp’s dividend payout ratio (DPR) is presently 57.14%.
Several research analysts recently issued reports on the company. Zacks Investment Research upgraded OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Saturday, August 6th. Keefe, Bruyette & Woods lifted their price objective on OFG Bancorp from $10.00 to $11.00 and gave the stock a “market perform” rating in a research report on Monday, July 25th.
About OFG Bancorp
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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