Swiss National Bank continued to hold its position in shares of OFG Bancorp (NYSE:OFG) during the second quarter, Holdings Channel reports. The institutional investor owned 76,600 shares of the company’s stock at the end of the second quarter. Swiss National Bank owned about 0.17% of OFG Bancorp worth $636,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in shares of 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. Prudential Financial Inc. boosted its stake in shares of OFG Bancorp by 173.6% in the first quarter. Prudential Financial Inc. now owns 276,764 shares of the company’s stock valued at $1,935,000 after buying an additional 175,600 shares in the last quarter. Nisa Investment Advisors L.L.C. purchased a new stake in shares of OFG Bancorp during the first quarter valued at $921,000. Strs Ohio purchased a new stake in shares of OFG Bancorp during the second quarter valued at $655,000. Finally, ClariVest Asset Management LLC purchased a new stake in shares of OFG Bancorp during the second quarter valued at $623,000. 97.79% of the stock is owned by institutional investors.
OFG Bancorp (NYSE:OFG) traded up 0.61% during trading on Wednesday, hitting $9.97. The stock had a trading volume of 30,497 shares. The company has a 50-day moving average of $10.38 and a 200 day moving average of $9.17. The company has a market cap of $437.81 million, a price-to-earnings ratio of 23.97 and a beta of 1.32. OFG Bancorp has a 52 week low of $4.56 and a 52 week high of $11.25.
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, hitting the 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 quarter last year, the company posted ($0.15) EPS. On average, equities research analysts anticipate that OFG Bancorp will post $0.98 EPS for the current year.
The business also recently announced 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 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Wednesday, September 28th. OFG Bancorp’s dividend payout ratio (DPR) is currently 57.14%.
Several brokerages have weighed in on OFG. Zacks Investment Research raised OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Saturday, August 6th. Keefe, Bruyette & Woods boosted their price objective on OFG Bancorp from $10.00 to $11.00 and gave the stock a “market perform” rating in a report on Monday, July 25th.
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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