JPMorgan Chase & Co. decreased its position in OFG Bancorp (NYSE:OFG) by 1.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,396,868 shares of the bank’s stock after selling 23,930 shares during the quarter. JPMorgan Chase & Co. owned about 3.18% of OFG Bancorp worth $14,597,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Teacher Retirement System of Texas acquired a new position in OFG Bancorp in the 4th quarter valued at about $144,000. Stevens Capital Management LP acquired a new position in OFG Bancorp in the 1st quarter valued at about $170,000. Citadel Advisors LLC raised its stake in OFG Bancorp by 201.5% in the 4th quarter. Citadel Advisors LLC now owns 16,744 shares of the bank’s stock valued at $157,000 after purchasing an additional 33,244 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in OFG Bancorp in the 4th quarter valued at about $187,000. Finally, Crossmark Global Holdings Inc. raised its stake in OFG Bancorp by 54.6% in the 4th quarter. Crossmark Global Holdings Inc. now owns 26,766 shares of the bank’s stock valued at $252,000 after purchasing an additional 9,453 shares during the last quarter. 96.77% of the stock is owned by hedge funds and other institutional investors.
OFG opened at $14.50 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $635.04 million, a price-to-earnings ratio of 10.63 and a beta of 1.68. OFG Bancorp has a 12 month low of $7.80 and a 12 month high of $14.95.
OFG Bancorp (NYSE:OFG) last posted its quarterly earnings results on Friday, April 20th. The bank reported $0.29 EPS for the quarter, beating the consensus estimate of $0.20 by $0.09. The company had revenue of $92.51 million during the quarter. OFG Bancorp had a return on equity of 9.80% and a net margin of 12.93%. sell-side analysts forecast that OFG Bancorp will post 1.12 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Friday, June 29th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Thursday, June 28th. OFG Bancorp’s dividend payout ratio (DPR) is 18.05%.
Several research analysts recently weighed in on OFG shares. ValuEngine raised shares of OFG Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, April 12th. Piper Jaffray Companies reissued a “hold” rating and issued a $12.00 target price on shares of OFG Bancorp in a research note on Tuesday, February 27th. Zacks Investment Research raised shares of OFG Bancorp from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Thursday, May 17th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $14.00 target price on shares of OFG Bancorp in a research note on Monday, April 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. OFG Bancorp currently has an average rating of “Buy” and a consensus price target of $13.50.
In other OFG Bancorp news, Director Jorge Colon purchased 10,000 shares of the stock in a transaction on Tuesday, May 29th. The stock was bought at an average price of $13.97 per share, for a total transaction of $139,700.00. Following the acquisition, the director now directly owns 20,150 shares of the company’s stock, valued at $281,495.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.39% of the stock is owned by insiders.
OFG Bancorp Company Profile
OFG Bancorp, a financial holding company, provides various banking and financial services. It operates in three segments: Banking, Wealth Management, and Treasury. The company offers checking and savings accounts, as well as time deposit products; commercial, consumer, auto, and mortgage lending products; and financial planning, investment brokerage, corporate and individual trust, and retirement services.
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