Parametric Portfolio Associates LLC reduced its stake in shares of OFG Bancorp (NYSE:OFG) by 18.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 632,210 shares of the bank’s stock after selling 146,814 shares during the period. Parametric Portfolio Associates LLC’s holdings in OFG Bancorp were worth $12,511,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Advisor Group Inc. bought a new position in OFG Bancorp in the fourth quarter valued at approximately $84,000. Neuburgh Advisers LLC lifted its position in shares of OFG Bancorp by 15.6% in the fourth quarter. Neuburgh Advisers LLC now owns 5,328 shares of the bank’s stock worth $88,000 after purchasing an additional 720 shares in the last quarter. Bank of Montreal Can lifted its position in shares of OFG Bancorp by 20.2% in the fourth quarter. Bank of Montreal Can now owns 6,202 shares of the bank’s stock worth $101,000 after purchasing an additional 1,042 shares in the last quarter. Meeder Asset Management Inc. lifted its position in shares of OFG Bancorp by 23.3% in the first quarter. Meeder Asset Management Inc. now owns 6,626 shares of the bank’s stock worth $132,000 after purchasing an additional 1,253 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new stake in shares of OFG Bancorp in the fourth quarter worth $208,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.
OFG has been the topic of a number of research reports. ValuEngine lowered shares of OFG Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Zacks Investment Research raised shares of OFG Bancorp from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research report on Wednesday, April 24th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $19.33.
OFG traded down $0.12 during trading on Wednesday, reaching $19.51. 1,118 shares of the stock were exchanged, compared to its average volume of 293,330. The company has a market cap of $991.68 million, a price-to-earnings ratio of 12.91 and a beta of 1.43. OFG Bancorp has a twelve month low of $13.98 and a twelve month high of $21.64. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15.
OFG Bancorp (NYSE:OFG) last issued its earnings results on Thursday, April 18th. The bank reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.02. The business had revenue of $99.45 million for the quarter, compared to the consensus estimate of $96.40 million. OFG Bancorp had a net margin of 20.16% and a return on equity of 10.66%. As a group, research analysts forecast that OFG Bancorp will post 1.74 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.28 dividend on an annualized basis and a yield of 1.44%. OFG Bancorp’s payout ratio is 18.42%.
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About OFG Bancorp
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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