OFG Bancorp (OFG) Stake Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of OFG Bancorp (NYSE:OFG) by 4.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 638,079 shares of the bank’s stock after selling 29,392 shares during the period. Bank of New York Mellon Corp owned about 1.45% of OFG Bancorp worth $5,998,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in OFG. Bowling Portfolio Management LLC acquired a new stake in shares of OFG Bancorp during the fourth quarter valued at about $2,094,000. Stilwell Value LLC lifted its position in shares of OFG Bancorp by 9.1% during the fourth quarter. Stilwell Value LLC now owns 1,614,868 shares of the bank’s stock worth $15,180,000 after purchasing an additional 135,343 shares during the last quarter. Gator Capital Management LLC bought a new position in shares of OFG Bancorp during the fourth quarter worth about $1,197,000. Macquarie Group Ltd. bought a new position in shares of OFG Bancorp during the third quarter worth about $626,000. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of OFG Bancorp by 8.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 834,479 shares of the bank’s stock worth $7,845,000 after purchasing an additional 66,920 shares during the last quarter. Institutional investors own 97.05% of the company’s stock.

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Shares of OFG stock opened at $11.45 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. OFG Bancorp has a one year low of $7.80 and a one year high of $12.25. The stock has a market cap of $496.61, a PE ratio of 8.59 and a beta of 1.75.

OFG Bancorp (NYSE:OFG) last issued its quarterly earnings results on Tuesday, January 30th. The bank reported $0.30 EPS for the quarter, topping the consensus estimate of $0.09 by $0.21. OFG Bancorp had a net margin of 12.41% and a return on equity of 9.61%. The business had revenue of $90.33 million for the quarter, compared to analysts’ expectations of $86.90 million. During the same quarter last year, the company posted $0.27 earnings per share. analysts anticipate that OFG Bancorp will post 1.08 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 29th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.24 annualized dividend and a dividend yield of 2.10%. OFG Bancorp’s payout ratio is 18.05%.

Several brokerages have recently commented on OFG. ValuEngine cut shares of OFG Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Piper Jaffray reaffirmed a “hold” rating and set a $12.00 price target on shares of OFG Bancorp in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $12.67.

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OFG Bancorp Profile

OFG Bancorp, a financial holding company, provides various banking and financial services. It operates in three segments: Banking, Wealth Management, and Treasury. The company offers checking and savings accounts, as well as time deposit products; commercial, consumer, auto, and mortgage lending products; and financial planning, investment brokerage, corporate and individual trust, and retirement services.

Institutional Ownership by Quarter for OFG Bancorp (NYSE:OFG)

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