Congress Asset Management Co. MA acquired a new stake in shares of OFG Bancorp (NYSE:OFG) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 54,105 shares of the bank’s stock, valued at approximately $1,185,000. Congress Asset Management Co. MA owned approximately 0.11% of OFG Bancorp at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Aperio Group LLC grew its holdings in shares of OFG Bancorp by 2.5% in the second quarter. Aperio Group LLC now owns 19,138 shares of the bank’s stock valued at $455,000 after purchasing an additional 471 shares in the last quarter. First Hawaiian Bank lifted its position in shares of OFG Bancorp by 3.5% during the third quarter. First Hawaiian Bank now owns 18,560 shares of the bank’s stock worth $406,000 after purchasing an additional 620 shares during the last quarter. USA Financial Portformulas Corp lifted its position in shares of OFG Bancorp by 7.9% during the second quarter. USA Financial Portformulas Corp now owns 9,030 shares of the bank’s stock worth $179,000 after purchasing an additional 664 shares during the last quarter. Quantamental Technologies LLC lifted its position in shares of OFG Bancorp by 19.8% during the second quarter. Quantamental Technologies LLC now owns 4,645 shares of the bank’s stock worth $110,000 after purchasing an additional 767 shares during the last quarter. Finally, Miles Capital Inc. lifted its position in shares of OFG Bancorp by 6.5% during the second quarter. Miles Capital Inc. now owns 13,415 shares of the bank’s stock worth $319,000 after purchasing an additional 818 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently weighed in on OFG shares. Zacks Investment Research downgraded OFG Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, October 24th. ValuEngine downgraded OFG Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd.
Shares of OFG stock traded up $0.11 on Friday, hitting $21.38. The stock had a trading volume of 1,038 shares, compared to its average volume of 329,236. The company has a quick ratio of 0.98, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average price of $21.86 and a 200 day moving average price of $21.23. The company has a market cap of $1.09 billion, a PE ratio of 13.99 and a beta of 1.57. OFG Bancorp has a one year low of $14.96 and a one year high of $24.95.
OFG Bancorp (NYSE:OFG) last released its quarterly earnings data on Monday, October 21st. The bank reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. The firm had revenue of $102.89 million during the quarter, compared to the consensus estimate of $97.40 million. OFG Bancorp had a return on equity of 10.36% and a net margin of 17.12%. Equities research analysts expect that OFG Bancorp will post 1.78 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.31%. OFG Bancorp’s payout ratio is 18.42%.
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; financial planning, insurance, financial services, and investment brokerage; and corporate and individual trust, and retirement services.
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