OxFORD Asset Management LLP decreased its position in OFG Bancorp (NYSE:OFG) by 50.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 113,177 shares of the bank’s stock after selling 116,783 shares during the quarter. OxFORD Asset Management LLP owned about 0.26% of OFG Bancorp worth $1,041,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Everence Capital Management Inc. purchased a new stake in OFG Bancorp in the 3rd quarter valued at about $103,000. Virtu KCG Holdings LLC purchased a new stake in shares of OFG Bancorp during the 2nd quarter worth about $117,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of OFG Bancorp during the 2nd quarter worth about $127,000. BNP Paribas Arbitrage SA lifted its position in OFG Bancorp by 53.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,649 shares of the bank’s stock worth $136,000 after acquiring an additional 4,775 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in OFG Bancorp during the 3rd quarter worth approximately $141,000. 96.49% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently commented on the company. ValuEngine raised OFG Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Keefe, Bruyette & Woods raised OFG Bancorp from a “market perform” rating to an “outperform” rating in a research report on Tuesday, November 28th. Sandler O’Neill raised OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Monday, October 30th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $11.00 price target on shares of OFG Bancorp in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $12.33.
OFG Bancorp (OFG) traded up $0.10 during trading hours on Friday, hitting $9.25. The stock had a trading volume of 233,176 shares, compared to its average volume of 359,611. OFG Bancorp has a 12 month low of $7.80 and a 12 month high of $13.85. The company has a market capitalization of $402.12, a PE ratio of 11.56 and a beta of 1.66. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 0.91.
OFG Bancorp (NYSE:OFG) last announced its earnings results on Wednesday, October 25th. The bank reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.12. OFG Bancorp had a return on equity of 9.05% and a net margin of 11.92%. The business had revenue of $98.39 million during the quarter, compared to analysts’ expectations of $90.60 million. During the same quarter last year, the business posted $0.14 earnings per share. equities analysts expect that OFG Bancorp will post 1.12 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Thursday, December 28th. OFG Bancorp’s dividend payout ratio is currently 30.00%.
In other OFG Bancorp news, Director Jesus Nestor De acquired 5,000 shares of OFG Bancorp stock in a transaction that occurred on Wednesday, November 8th. The stock was purchased at an average cost of $7.95 per share, with a total value of $39,750.00. Following the purchase, the director now owns 5,400 shares in the company, valued at $42,930. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.56% of the stock is currently owned by corporate insiders.
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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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