Allianz Asset Management GmbH lowered its position in OFG Bancorp (NYSE:OFG) by 62.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,297 shares of the bank’s stock after selling 35,562 shares during the period. Allianz Asset Management GmbH’s holdings in OFG Bancorp were worth $506,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of OFG Bancorp by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,739,745 shares of the bank’s stock worth $61,556,000 after purchasing an additional 26,096 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of OFG Bancorp by 150.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 14,968 shares of the bank’s stock worth $296,000 after purchasing an additional 9,003 shares during the period. SG Americas Securities LLC raised its holdings in shares of OFG Bancorp by 38.1% in the 1st quarter. SG Americas Securities LLC now owns 28,503 shares of the bank’s stock worth $564,000 after purchasing an additional 7,867 shares during the period. Rhumbline Advisers raised its holdings in shares of OFG Bancorp by 1.7% in the 1st quarter. Rhumbline Advisers now owns 131,608 shares of the bank’s stock worth $2,605,000 after purchasing an additional 2,214 shares during the period. Finally, Comerica Bank raised its holdings in shares of OFG Bancorp by 2.1% in the 1st quarter. Comerica Bank now owns 43,214 shares of the bank’s stock worth $843,000 after purchasing an additional 899 shares during the period. 93.35% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on OFG shares. Piper Jaffray Companies set a $28.00 price target on shares of OFG Bancorp and gave the stock a “buy” rating in a report on Friday, June 28th. Keefe, Bruyette & Woods lifted their price target on shares of OFG Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday, July 1st. Zacks Investment Research raised shares of OFG Bancorp from a “hold” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a report on Wednesday, July 3rd. Finally, ValuEngine cut shares of OFG Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, August 1st.
OFG Bancorp stock opened at $22.55 on Friday. OFG Bancorp has a 1-year low of $14.42 and a 1-year high of $24.95. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 14.84 and a beta of 1.60. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.15. The firm has a 50 day simple moving average of $21.13 and a 200 day simple moving average of $20.69.
OFG Bancorp (NYSE:OFG) last released its quarterly earnings data on Monday, July 22nd. The bank reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). OFG Bancorp had a net margin of 20.64% and a return on equity of 10.64%. The business had revenue of $104.03 million during the quarter, compared to analysts’ expectations of $98.50 million. On average, equities research analysts forecast that OFG Bancorp will post 1.8 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.28 dividend on an annualized basis and a yield of 1.24%. OFG Bancorp’s dividend payout ratio is 18.42%.
OFG Bancorp Company 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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