JPMorgan Chase & Co. raised its stake in shares of OFG Bancorp (NYSE:OFG) by 41.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,808,035 shares of the company’s stock after buying an additional 528,570 shares during the period. JPMorgan Chase & Co. owned approximately 4.12% of OFG Bancorp worth $15,006,000 as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in the stock. Los Angeles Capital Management & Equity Research Inc. increased its stake in OFG Bancorp by 18.3% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 148,446 shares of the company’s stock valued at $1,232,000 after buying an additional 22,925 shares during the period. Oxford Asset Management increased its stake in OFG Bancorp by 124.3% in the second quarter. Oxford Asset Management now owns 354,490 shares of the company’s stock valued at $2,942,000 after buying an additional 196,427 shares during the period. Princeton Alpha Management LP acquired a new stake in OFG Bancorp during the second quarter valued at approximately $108,000. Hanseatic Management Services Inc. acquired a new stake in OFG Bancorp during the second quarter valued at approximately $530,000. Finally, GSA Capital Partners LLP increased its stake in OFG Bancorp by 96.2% in the second quarter. GSA Capital Partners LLP now owns 272,298 shares of the company’s stock valued at $2,260,000 after buying an additional 133,485 shares during the period. Hedge funds and other institutional investors own 97.79% of the company’s stock.
OFG Bancorp (NYSE:OFG) traded up 3.17% during trading on Friday, hitting $10.09. 137,741 shares of the stock were exchanged. OFG Bancorp has a one year low of $4.56 and a one year high of $11.25. The company has a market cap of $443.08 million, a price-to-earnings ratio of 24.25 and a beta of 1.33. The stock’s 50 day moving average is $10.56 and its 200-day moving average is $8.98.
OFG Bancorp (NYSE:OFG) last released its quarterly earnings results on Friday, July 22nd. The company reported $0.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.25. OFG Bancorp had a net margin of 7.01% and a return on equity of 4.40%. During the same quarter in the prior year, the company earned ($0.15) earnings per share. On average, equities research analysts expect that OFG Bancorp will post $0.98 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Wednesday, September 28th. OFG Bancorp’s payout ratio is currently 57.14%.
Several research firms recently commented on OFG. Zacks Investment Research upgraded shares of OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Saturday, August 6th. Keefe, Bruyette & Woods upped their price objective on shares of OFG Bancorp from $10.00 to $11.00 and gave the stock a “market perform” rating in a research report on Monday, July 25th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $10.85.
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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