James Investment Research Inc. raised its holdings in OFG Bancorp (NYSE:OFG) by 9.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,830 shares of the bank’s stock after acquiring an additional 4,260 shares during the quarter. James Investment Research Inc.’s holdings in OFG Bancorp were worth $837,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of OFG. BlackRock Inc. lifted its stake in OFG Bancorp by 6.1% in the second quarter. BlackRock Inc. now owns 6,173,612 shares of the bank’s stock valued at $86,739,000 after acquiring an additional 355,642 shares during the last quarter. Wells Fargo & Company MN lifted its stake in OFG Bancorp by 719.5% in the first quarter. Wells Fargo & Company MN now owns 217,975 shares of the bank’s stock valued at $2,278,000 after acquiring an additional 191,376 shares during the last quarter. FMR LLC lifted its stake in OFG Bancorp by 6.7% in the second quarter. FMR LLC now owns 2,558,957 shares of the bank’s stock valued at $35,953,000 after acquiring an additional 160,685 shares during the last quarter. Bowling Portfolio Management LLC acquired a new stake in OFG Bancorp in the second quarter valued at approximately $1,965,000. Finally, WBI Investments Inc. acquired a new stake in OFG Bancorp in the second quarter valued at approximately $1,838,000. Hedge funds and other institutional investors own 97.87% of the company’s stock.
OFG has been the subject of a number of analyst reports. Piper Jaffray Companies upgraded shares of OFG Bancorp from a “neutral” rating to an “overweight” rating and set a $7.50 target price for the company in a research note on Monday, July 16th. Zacks Investment Research upgraded shares of OFG Bancorp from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Wednesday, October 24th. TheStreet upgraded shares of OFG Bancorp from a “c+” rating to a “b” rating in a research note on Monday, July 23rd. Finally, Sandler O’Neill reiterated a “buy” rating and issued a $18.00 target price on shares of OFG Bancorp in a research note on Friday, July 20th. Five investment analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus price target of $17.75.
Shares of OFG Bancorp stock opened at $17.37 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.90 and a debt-to-equity ratio of 0.14. OFG Bancorp has a 1-year low of $7.80 and a 1-year high of $18.07. The firm has a market capitalization of $763.99 million, a PE ratio of 13.06 and a beta of 1.65.
OFG Bancorp (NYSE:OFG) last announced its earnings results on Friday, October 19th. The bank reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.05. OFG Bancorp had a net margin of 18.22% and a return on equity of 10.28%. The business had revenue of $100.90 million for the quarter, compared to analyst estimates of $94.80 million. As a group, analysts anticipate that OFG Bancorp will post 1.5 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Thursday, September 27th. OFG Bancorp’s dividend payout ratio (DPR) is presently 18.05%.
About OFG Bancorp
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.
Read More: Intrinsic Value and Stock Selection
Want to see what other hedge funds are holding OFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OFG Bancorp (NYSE:OFG).
Receive News & Ratings for OFG Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OFG Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.