Brandywine Global Investment Management LLC trimmed its position in shares of OFG Bancorp (NYSE:OFG) by 2.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,112 shares of the bank’s stock after selling 278 shares during the period. Brandywine Global Investment Management LLC’s holdings in OFG Bancorp were worth $122,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of OFG Bancorp by 5.7% during the second quarter. Vanguard Group Inc. now owns 5,058,799 shares of the bank’s stock valued at $50,588,000 after purchasing an additional 271,986 shares in the last quarter. State Street Corp raised its stake in shares of OFG Bancorp by 31.6% in the first quarter. State Street Corp now owns 1,749,823 shares of the bank’s stock worth $20,653,000 after purchasing an additional 420,589 shares during the last quarter. Stilwell Value LLC raised its stake in shares of OFG Bancorp by 6.1% in the second quarter. Stilwell Value LLC now owns 1,328,964 shares of the bank’s stock worth $13,290,000 after purchasing an additional 76,963 shares during the last quarter. LSV Asset Management raised its stake in shares of OFG Bancorp by 0.3% in the second quarter. LSV Asset Management now owns 1,324,706 shares of the bank’s stock worth $13,247,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in shares of OFG Bancorp by 3.5% in the second quarter. Parametric Portfolio Associates LLC now owns 1,060,745 shares of the bank’s stock worth $10,607,000 after purchasing an additional 36,192 shares during the last quarter. 96.99% of the stock is currently owned by institutional investors.
A number of analysts recently commented on OFG shares. ValuEngine upgraded OFG Bancorp from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Piper Jaffray Companies reiterated a “hold” rating and set a $11.50 price objective on shares of OFG Bancorp in a research report on Friday, October 6th. Finally, BidaskClub cut OFG Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th.
Shares of OFG Bancorp (NYSE OFG) opened at 8.35 on Friday. The stock has a market capitalization of $366.96 million, a P/E ratio of 7.56 and a beta of 1.52. The stock has a 50 day moving average price of $9.03 and a 200 day moving average price of $9.99. OFG Bancorp has a one year low of $8.32 and a one year high of $14.48.
OFG Bancorp (NYSE:OFG) last posted its earnings results on Friday, July 21st. The bank reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. The firm had revenue of $100.45 million for the quarter, compared to analyst estimates of $90.95 million. OFG Bancorp had a return on equity of 8.36% and a net margin of 14.58%. During the same quarter in the prior year, the company posted $0.25 earnings per share. Equities analysts forecast that OFG Bancorp will post $1.12 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a $0.06 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.24 annualized dividend and a yield of 2.87%. OFG Bancorp’s dividend payout ratio is presently 22.02%.
About OFG Bancorp
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.
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