California State Teachers Retirement System reduced its position in shares of OFG Bancorp (NYSE:OFG) by 3.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,740 shares of the company’s stock after selling 3,707 shares during the period. California State Teachers Retirement System owned approximately 0.21% of OFG Bancorp worth $753,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in OFG. BNP Paribas Arbitrage SA raised its stake in OFG Bancorp by 116.5% in the second quarter. BNP Paribas Arbitrage SA now owns 13,488 shares of the company’s stock valued at $112,000 after buying an additional 7,258 shares in the last quarter. Royal Bank of Canada raised its stake in OFG Bancorp by 76.6% in the first quarter. Royal Bank of Canada now owns 116,258 shares of the company’s stock valued at $813,000 after buying an additional 50,429 shares in the last quarter. Arizona State Retirement System raised its stake in OFG Bancorp by 3.7% in the first quarter. Arizona State Retirement System now owns 22,544 shares of the company’s stock valued at $158,000 after buying an additional 800 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in OFG Bancorp by 0.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 30,469 shares of the company’s stock valued at $213,000 after buying an additional 261 shares in the last quarter. Finally, Wellington Management Group LLP raised 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 valued at $28,875,000 after buying an additional 2,831,877 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors.
Shares of OFG Bancorp (NYSE:OFG) traded up 3.37% during midday trading on Friday, reaching $10.11. The company’s stock had a trading volume of 228,327 shares. The stock has a 50 day moving average price of $10.54 and a 200-day moving average price of $9.00. OFG Bancorp has a 52-week low of $4.56 and a 52-week high of $11.25. The company has a market capitalization of $443.96 million, a price-to-earnings ratio of 24.30 and a beta of 1.33.
OFG Bancorp (NYSE:OFG) last released its earnings results on Friday, July 22nd. The company reported $0.25 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.25. OFG Bancorp had a return on equity of 4.40% and a net margin of 7.01%. During the same period last year, the company posted ($0.15) EPS. Equities research analysts expect that OFG Bancorp will post $0.98 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Wednesday, September 28th. OFG Bancorp’s dividend payout ratio (DPR) is currently 57.14%.
Several equities research analysts recently issued reports on OFG shares. Zacks Investment Research raised OFG Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Keefe, Bruyette & Woods upped their price target on OFG Bancorp from $10.00 to $11.00 and gave the company a “market perform” rating in a research report on Monday, July 25th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target 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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