Great West Life Assurance Co. Can lifted its position in shares of OFG Bancorp (NYSE:OFG) by 6.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 60,181 shares of the bank’s stock after acquiring an additional 3,700 shares during the period. Great West Life Assurance Co. Can’s holdings in OFG Bancorp were worth $1,191,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in OFG. Stilwell Value LLC grew its position in shares of OFG Bancorp by 29.3% during the fourth quarter. Stilwell Value LLC now owns 2,087,898 shares of the bank’s stock worth $34,367,000 after acquiring an additional 473,030 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of OFG Bancorp during the fourth quarter worth about $6,758,000. Two Sigma Investments LP bought a new position in shares of OFG Bancorp during the fourth quarter worth about $5,150,000. BlackRock Inc. grew its position in shares of OFG Bancorp by 4.2% during the fourth quarter. BlackRock Inc. now owns 6,565,378 shares of the bank’s stock worth $108,066,000 after acquiring an additional 264,027 shares during the last quarter. Finally, LSV Asset Management grew its position in shares of OFG Bancorp by 15.6% during the fourth quarter. LSV Asset Management now owns 1,827,439 shares of the bank’s stock worth $30,079,000 after acquiring an additional 246,233 shares during the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.
A number of brokerages recently issued reports on OFG. Zacks Investment Research upgraded shares of OFG Bancorp from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Wednesday, April 24th. ValuEngine lowered shares of OFG Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $19.33.
Shares of OFG opened at $19.79 on Thursday. The stock has a market capitalization of $991.68 million, a P/E ratio of 13.02 and a beta of 1.43. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.91 and a quick ratio of 0.91. OFG Bancorp has a 52-week low of $13.98 and a 52-week high of $21.64.
OFG Bancorp (NYSE:OFG) last announced its earnings results on Thursday, April 18th. The bank reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. The firm had revenue of $99.45 million during the quarter, compared to analyst estimates of $96.40 million. OFG Bancorp had a net margin of 20.16% and a return on equity of 10.66%. Equities research analysts expect that OFG Bancorp will post 1.74 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.28 dividend on an annualized basis and a yield of 1.41%. OFG Bancorp’s dividend payout ratio is presently 18.42%.
About OFG Bancorp
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; financial planning, insurance, financial services, and investment brokerage; and corporate and individual trust, and retirement services.
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