Wells Fargo & Company MN Buys 1,408 Shares of OFG Bancorp (OFG)

Wells Fargo & Company MN raised its position in shares of OFG Bancorp (NYSE:OFG) by 2.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,798 shares of the bank’s stock after buying an additional 1,408 shares during the period. Wells Fargo & Company MN owned 0.14% of OFG Bancorp worth $730,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Federated Investors Inc. PA increased its position in shares of OFG Bancorp by 15.1% in the fourth quarter. Federated Investors Inc. PA now owns 107,705 shares of the bank’s stock worth $1,411,000 after buying an additional 14,148 shares during the period. New York State Teachers Retirement System boosted its stake in OFG Bancorp by 0.3% in the fourth quarter. New York State Teachers Retirement System now owns 32,564 shares of the bank’s stock worth $427,000 after buying an additional 100 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of OFG Bancorp by 13.3% in the fourth quarter. Teachers Advisors LLC now owns 93,278 shares of the bank’s stock valued at $1,222,000 after buying an additional 10,921 shares during the period. Norges Bank acquired a new stake in shares of OFG Bancorp during the fourth quarter valued at $733,000. Finally, Ledyard National Bank purchased a new position in shares of OFG Bancorp during the first quarter valued at approximately $205,000. 99.48% of the stock is owned by institutional investors and hedge funds.

OFG Bancorp (NYSE OFG) opened at 9.90 on Tuesday. OFG Bancorp has a 12-month low of $9.05 and a 12-month high of $14.48. The firm’s 50-day moving average is $9.86 and its 200 day moving average is $11.82. The firm has a market cap of $435.08 million, a P/E ratio of 9.40 and a beta of 1.48.

OFG Bancorp (NYSE:OFG) last issued its quarterly earnings data on Friday, April 21st. The bank reported $0.26 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. OFG Bancorp had a return on equity of 8.05% and a net margin of 14.19%. The business had revenue of $93.69 million for the quarter, compared to analysts’ expectations of $87.50 million. During the same period in the prior year, the firm earned $0.24 EPS. Equities analysts forecast that OFG Bancorp will post $1.09 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Wednesday, June 28th. OFG Bancorp’s payout ratio is 23.08%.

COPYRIGHT VIOLATION WARNING: “Wells Fargo & Company MN Buys 1,408 Shares of OFG Bancorp (OFG)” was originally posted by Stock Observer and is the property of of Stock Observer. If you are viewing this report on another domain, it was stolen and republished in violation of US & international copyright and trademark laws. The correct version of this report can be accessed at https://www.thestockobserver.com/2017/07/18/ofg-bancorp-ofg-shares-bought-by-wells-fargo-company-mn-updated.html.

A number of research firms have weighed in on OFG. ValuEngine lowered shares of OFG Bancorp from a “strong-buy” rating to a “buy” rating in a report on Monday. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $14.00 target price on shares of OFG Bancorp in a research report on Thursday, April 13th.

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 operates through three segments: Banking, Wealth Management and Treasury. 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.

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

Receive News & Ratings for OFG Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OFG Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply