ClariVest Asset Management LLC purchased a new stake in OFG Bancorp (NYSE:OFG) during the second quarter, Holdings Channel reports. The fund purchased 75,100 shares of the company’s stock, valued at approximately $623,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in OFG. BNP Paribas Arbitrage SA boosted its position 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 during the period. Metropolitan Life Insurance Co. NY raised its stake in shares of 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. First Manhattan Co. raised its stake in shares of OFG Bancorp by 33.3% in the second quarter. First Manhattan Co. now owns 40,000 shares of the company’s stock valued at $332,000 after buying an additional 10,000 shares in the last quarter. Strs Ohio purchased a new stake in shares of OFG Bancorp during the second quarter valued at $655,000. Finally, Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of 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 valued at $877,000 after buying an additional 69,979 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.
OFG Bancorp (NYSE:OFG) traded up 1.99% during trading on Friday, hitting $9.75. The stock had a trading volume of 137,920 shares. OFG Bancorp has a 52 week low of $4.56 and a 52 week high of $11.25. The company has a market cap of $428.15 million, a PE ratio of 23.44 and a beta of 1.32. The stock has a 50-day moving average price of $10.28 and a 200-day moving average price of $9.20.
OFG Bancorp (NYSE:OFG) last released its earnings results on Friday, July 22nd. The company reported $0.25 earnings per share for the quarter, meeting the Thomson Reuters’ 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 period in the previous year, the firm earned ($0.15) earnings per share. Equities analysts predict 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. Investors of record on Friday, September 30th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Wednesday, September 28th. OFG Bancorp’s payout ratio is presently 57.14%.
Several analysts recently weighed in on OFG shares. Zacks Investment Research raised OFG Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Keefe, Bruyette & Woods boosted their price objective on OFG Bancorp from $10.00 to $11.00 and gave the company 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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