Miles Capital Inc. increased its holdings in OFG Bancorp (NYSE:OFG) by 6.5% in the second quarter, Holdings Channel.com reports. The firm owned 13,415 shares of the bank’s stock after purchasing an additional 818 shares during the period. Miles Capital Inc.’s holdings in OFG Bancorp were worth $319,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of OFG Bancorp by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,739,745 shares of the bank’s stock valued at $61,556,000 after buying an additional 26,096 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in OFG Bancorp by 150.9% during 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 increased its holdings in OFG Bancorp by 38.1% during 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 increased 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 valued at $2,605,000 after acquiring an additional 2,214 shares during the last quarter. Finally, Comerica Bank increased 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 valued at $843,000 after acquiring an additional 899 shares during the last quarter. 93.35% of the stock is owned by institutional investors and hedge funds.
OFG Bancorp stock traded down $0.05 during mid-day trading on Friday, hitting $22.50. 42,270 shares of the company were exchanged, compared to its average volume of 223,402. The company has a market capitalization of $1.13 billion, a P/E ratio of 14.81 and a beta of 1.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.99 and a quick ratio of 0.98. OFG Bancorp has a 12-month low of $14.42 and a 12-month high of $24.95. The business’s 50 day simple moving average is $21.13 and its two-hundred day simple moving average is $20.69.
OFG Bancorp (NYSE:OFG) last released its quarterly earnings results on Monday, July 22nd. The bank reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.01). OFG Bancorp had a return on equity of 10.64% and a net margin of 20.64%. The business had revenue of $104.03 million during the quarter, compared to analyst estimates of $98.50 million. Equities research analysts predict that OFG Bancorp will post 1.8 earnings per share for the current year.
The firm also recently declared 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. This represents a $0.28 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, September 27th. OFG Bancorp’s dividend payout ratio (DPR) is 18.42%.
OFG has been the subject of a number of research analyst reports. ValuEngine cut OFG Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research raised OFG Bancorp from a “hold” rating to a “strong-buy” rating and set a $28.00 target price for the company in a research report on Wednesday, July 3rd. Piper Jaffray Companies set a $28.00 target price on OFG Bancorp and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Keefe, Bruyette & Woods upped their target price on OFG Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a research report on Monday, July 1st.
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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