BNP Paribas Arbitrage SA increased its position in OFG Bancorp (NYSE:OFG) by 116.5% during the second quarter, Holdings Channel reports. The firm owned 13,488 shares of the company’s stock after buying an additional 7,258 shares during the period. BNP Paribas Arbitrage SA’s holdings in OFG Bancorp were worth $112,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in OFG Bancorp by 218.0% in the first quarter. Wellington Management Group LLP now owns 4,130,883 shares of the company’s stock worth $28,875,000 after buying an additional 2,831,877 shares during the period. Prudential Financial Inc. boosted its stake in OFG Bancorp by 173.6% in the first quarter. Prudential Financial Inc. now owns 276,764 shares of the company’s stock worth $1,935,000 after buying an additional 175,600 shares during the period. Nisa Investment Advisors L.L.C. bought a new stake in OFG Bancorp during the first quarter worth approximately $921,000. Los Angeles Capital Management & Equity Research Inc. boosted its stake in OFG Bancorp by 126.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 125,521 shares of the company’s stock worth $877,000 after buying an additional 69,979 shares during the period. Finally, Algert Global LLC bought a new stake in OFG Bancorp during the first quarter worth approximately $355,000. 97.79% of the stock is currently owned by institutional investors.
OFG Bancorp (NYSE:OFG) traded up 3.37% on Friday, hitting $10.11. 228,327 shares of the stock were exchanged. OFG Bancorp has a 12 month low of $4.56 and a 12 month high of $11.25. The company has a 50-day moving average of $10.54 and a 200 day moving average of $9.00. The firm has a market cap of $443.96 million, a P/E ratio of 24.30 and a beta of 1.33.
OFG Bancorp (NYSE:OFG) last posted its quarterly earnings results on Friday, July 22nd. The company reported $0.25 EPS for the quarter, meeting the Zacks’ consensus estimate 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 previous year, the business earned ($0.15) EPS. Equities research analysts expect that OFG Bancorp will post $0.98 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Wednesday, September 28th. OFG Bancorp’s payout ratio is 57.14%.
OFG has been the topic of a number of research reports. Zacks Investment Research cut shares of OFG Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, July 9th. Keefe, Bruyette & Woods lifted their price objective on shares of OFG Bancorp from $10.00 to $11.00 and gave the company a “market perform” rating in a research note on Monday, July 25th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $10.85.
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 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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