Virginia Retirement Systems ET AL purchased a new position in shares of OFG Bancorp (NYSE:OFG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 34,300 shares of the company’s stock, valued at approximately $285,000. Virginia Retirement Systems ET AL owned approximately 0.08% of OFG Bancorp as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of OFG. Metropolitan Life Insurance Co. NY increased its position in 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. Geode Capital Management LLC increased its position in OFG Bancorp by 1.2% in the first quarter. Geode Capital Management LLC now owns 276,987 shares of the company’s stock worth $1,936,000 after buying an additional 3,188 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in 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. Principal Financial Group Inc. increased its position in OFG Bancorp by 2.9% in the second quarter. Principal Financial Group Inc. now owns 309,016 shares of the company’s stock worth $2,565,000 after buying an additional 8,584 shares during the last quarter. Finally, First Manhattan Co. increased its position in OFG Bancorp by 33.3% in the second quarter. First Manhattan Co. now owns 40,000 shares of the company’s stock worth $332,000 after buying an additional 10,000 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors.
OFG Bancorp (NYSE:OFG) opened at 9.97 on Monday. OFG Bancorp has a 52 week low of $4.56 and a 52 week high of $11.25. The stock has a market capitalization of $437.81 million, a P/E ratio of 23.97 and a beta of 1.32. The firm has a 50 day moving average price of $10.44 and a 200 day moving average price of $9.12.
OFG Bancorp (NYSE:OFG) last issued its quarterly earnings data on Friday, July 22nd. The company reported $0.25 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.25. OFG Bancorp had a return on equity of 4.40% and a net margin of 7.01%. During the same quarter in the previous year, the firm earned ($0.15) EPS. Equities research analysts predict that OFG Bancorp will post $0.98 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Wednesday, September 28th. OFG Bancorp’s dividend payout ratio (DPR) is 57.14%.
A number of research analysts recently issued reports on OFG shares. Zacks Investment Research upgraded OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Saturday, August 6th. Keefe, Bruyette & Woods raised 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.
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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