Texas Permanent School Fund Corp lowered its stake in OFG Bancorp (NYSE:OFG – Free Report) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,847 shares of the bank’s stock after selling 824 shares during the period. Texas Permanent School Fund Corp owned 0.09% of OFG Bancorp worth $1,091,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in OFG. JPMorgan Chase & Co. boosted its position in OFG Bancorp by 0.5% in the first quarter. JPMorgan Chase & Co. now owns 498,246 shares of the bank’s stock valued at $13,272,000 after buying an additional 2,368 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of OFG Bancorp by 13.6% during the first quarter. Citigroup Inc. now owns 44,861 shares of the bank’s stock worth $1,195,000 after purchasing an additional 5,356 shares during the period. Natixis Advisors L.P. lifted its holdings in shares of OFG Bancorp by 1.7% during the first quarter. Natixis Advisors L.P. now owns 27,562 shares of the bank’s stock worth $734,000 after purchasing an additional 465 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of OFG Bancorp by 56.6% during the first quarter. MetLife Investment Management LLC now owns 28,010 shares of the bank’s stock worth $746,000 after purchasing an additional 10,126 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of OFG Bancorp by 13.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 42,791 shares of the bank’s stock worth $1,140,000 after purchasing an additional 5,117 shares during the period. Institutional investors and hedge funds own 91.61% of the company’s stock.
Insider Activity at OFG Bancorp
In related news, Director Patrick J. Haggarty sold 21,100 shares of the business’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $28.36, for a total value of $598,396.00. Following the transaction, the director now owns 20,268 shares in the company, valued at $574,800.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.11% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
OFG Bancorp Price Performance
Shares of NYSE:OFG opened at $33.71 on Monday. The firm has a market cap of $1.59 billion, a PE ratio of 8.85 and a beta of 1.11. The firm’s fifty day moving average is $30.27 and its 200-day moving average is $29.01. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.88 and a current ratio of 0.88. OFG Bancorp has a 52 week low of $22.34 and a 52 week high of $34.30.
OFG Bancorp (NYSE:OFG – Get Free Report) last released its earnings results on Friday, October 20th. The bank reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.03. The business had revenue of $172.19 million for the quarter, compared to analyst estimates of $170.00 million. OFG Bancorp had a net margin of 24.53% and a return on equity of 16.79%. Sell-side analysts predict that OFG Bancorp will post 3.79 earnings per share for the current year.
OFG Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a $0.22 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.88 annualized dividend and a yield of 2.61%. OFG Bancorp’s payout ratio is 23.10%.
OFG Bancorp Company Profile
OFG Bancorp, a financial holding company, provides a range of banking and financial services. It operates through three segments: Banking, Wealth Management, and Treasury. The company offers checking and savings accounts, as well as time deposit products; commercial, consumer, auto leasing, and mortgage lending services; financial planning and insurance services; and corporate and individual trust, and retirement services.
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