Schwab Charles Investment Management Inc. lessened its holdings in shares of OFG Bancorp (NYSE:OFG) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 767,559 shares of the bank’s stock after selling 39,024 shares during the quarter. Schwab Charles Investment Management Inc. owned 1.75% of OFG Bancorp worth $7,024,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of OFG. Macquarie Group Ltd. bought a new position in OFG Bancorp during the 3rd quarter worth approximately $626,000. Prudential Financial Inc. lifted its holdings in shares of OFG Bancorp by 10.2% in the 2nd quarter. Prudential Financial Inc. now owns 327,444 shares of the bank’s stock worth $3,274,000 after purchasing an additional 30,250 shares during the last quarter. Thrivent Financial For Lutherans lifted its holdings in shares of OFG Bancorp by 148.6% in the 2nd quarter. Thrivent Financial For Lutherans now owns 62,141 shares of the bank’s stock worth $621,000 after purchasing an additional 37,141 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of OFG Bancorp by 5.7% in the 2nd quarter. Vanguard Group Inc. now owns 5,058,799 shares of the bank’s stock worth $50,588,000 after purchasing an additional 271,986 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its holdings in shares of OFG Bancorp by 124.6% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 28,613 shares of the bank’s stock worth $262,000 after purchasing an additional 15,876 shares during the last quarter. Hedge funds and other institutional investors own 96.49% of the company’s stock.
OFG Bancorp (NYSE:OFG) opened at $9.05 on Friday. The stock has a market capitalization of $397.72, a price-to-earnings ratio of 11.31 and a beta of 1.66. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.18. OFG Bancorp has a 1-year low of $7.80 and a 1-year high of $13.85.
OFG Bancorp (NYSE:OFG) last issued its earnings results on Wednesday, October 25th. The bank reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.12. The business had revenue of $98.39 million during the quarter, compared to analysts’ expectations of $90.60 million. OFG Bancorp had a return on equity of 9.05% and a net margin of 11.92%. During the same quarter last year, the firm posted $0.14 earnings per share. analysts anticipate that OFG Bancorp will post 0.65 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were given a dividend of $0.06 per share. The ex-dividend date was Thursday, December 28th. This represents a $0.24 dividend on an annualized basis and a yield of 2.65%. OFG Bancorp’s payout ratio is 30.00%.
Several analysts recently issued reports on the company. ValuEngine raised OFG Bancorp from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Sandler O’Neill upgraded 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 Monday, October 30th. Piper Jaffray Companies restated a “hold” rating and issued a $11.50 target price on shares of OFG Bancorp in a research report on Friday, October 6th. Finally, Keefe, Bruyette & Woods upgraded OFG Bancorp from a “market perform” rating to an “outperform” rating in a research report on Tuesday, November 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $12.33.
In other news, Director Jesus Nestor De acquired 5,000 shares of OFG Bancorp stock in a transaction that occurred on Wednesday, November 8th. The stock was purchased at an average price of $7.95 per share, with a total value of $39,750.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at $42,930. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.56% of the stock is currently owned by company insiders.
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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 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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