California Public Employees Retirement System lifted its stake in OFG Bancorp (NYSE:OFG) by 15.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 209,699 shares of the bank’s stock after purchasing an additional 27,299 shares during the quarter. California Public Employees Retirement System owned 0.48% of OFG Bancorp worth $1,919,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Engineers Gate Manager LP boosted its position in OFG Bancorp by 166.5% during the 3rd quarter. Engineers Gate Manager LP now owns 75,249 shares of the bank’s stock worth $689,000 after acquiring an additional 47,008 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new stake in OFG Bancorp during the 3rd quarter worth about $188,000. Hartford Investment Management Co. acquired a new stake in OFG Bancorp during the 3rd quarter worth about $189,000. Campbell & CO Investment Adviser LLC acquired a new stake in OFG Bancorp during the 3rd quarter worth about $141,000. Finally, Trexquant Investment LP acquired a new stake in OFG Bancorp during the 3rd quarter worth about $145,000. Institutional investors and hedge funds own 97.42% of the company’s stock.
OFG Bancorp (OFG) traded up $0.10 on Friday, hitting $10.85. The stock had a trading volume of 283,883 shares, compared to its average volume of 396,214. OFG Bancorp has a 52 week low of $7.80 and a 52 week high of $13.60. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.90. The stock has a market cap of $476.82, a P/E ratio of 12.62 and a beta of 1.79.
OFG Bancorp (NYSE:OFG) last posted its quarterly earnings results on Tuesday, January 30th. The bank reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.21. OFG Bancorp had a return on equity of 9.61% and a net margin of 12.41%. The company had revenue of $90.33 million during the quarter, compared to the consensus estimate of $86.90 million. During the same period last year, the business earned $0.27 EPS. equities analysts forecast that OFG Bancorp will post 1.08 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Thursday, December 28th. OFG Bancorp’s dividend payout ratio (DPR) is presently 27.91%.
A number of equities research analysts have commented on OFG shares. ValuEngine upgraded OFG Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Sandler O’Neill upgraded OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Monday, October 30th. Piper Jaffray Companies restated a “hold” rating and set a $11.00 price objective on shares of OFG Bancorp in a research report on Friday, October 27th. Finally, Keefe, Bruyette & Woods upgraded OFG Bancorp from a “market perform” rating to an “outperform” rating in a research report on Tuesday, November 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. OFG Bancorp presently has a consensus rating of “Hold” and an average price target of $12.33.
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OFG Bancorp 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.
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