Macquarie Group Ltd. bought a new stake in OFG Bancorp (NYSE:OFG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 68,468 shares of the bank’s stock, valued at approximately $626,000. Macquarie Group Ltd. owned 0.16% of OFG Bancorp as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Everence Capital Management Inc. bought a new position in OFG Bancorp in the third quarter valued at about $103,000. Virtu KCG Holdings LLC bought a new position in shares of OFG Bancorp in the second quarter worth about $117,000. Dynamic Technology Lab Private Ltd bought a new position in shares of OFG Bancorp in the second quarter worth about $127,000. BNP Paribas Arbitrage SA raised its stake in shares of OFG Bancorp by 53.8% in the second quarter. BNP Paribas Arbitrage SA now owns 13,649 shares of the bank’s stock worth $136,000 after buying an additional 4,775 shares during the period. Finally, Neuberger Berman Group LLC raised its stake in shares of OFG Bancorp by 7.2% in the second quarter. Neuberger Berman Group LLC now owns 14,436 shares of the bank’s stock worth $144,000 after buying an additional 966 shares during the period. 96.49% of the stock is currently owned by institutional investors.
OFG has been the topic of several recent research reports. ValuEngine raised OFG Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $11.50 price objective on shares of OFG Bancorp in a research note on Friday, October 6th. Sandler O’Neill upgraded OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Monday, October 30th. 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 issued a hold rating and three have given a buy rating to the company’s stock. OFG Bancorp presently has a consensus rating of “Hold” and a consensus price target of $12.33.
OFG Bancorp (NYSE:OFG) last released its quarterly earnings results on Wednesday, October 25th. The bank reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.12. The business had revenue of $98.39 million during the quarter, compared to analysts’ expectations of $90.60 million. OFG Bancorp had a return on equity of 9.05% and a net margin of 11.92%. During the same quarter last year, the business posted $0.14 EPS. research analysts predict that OFG Bancorp will post 1.12 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, December 28th. OFG Bancorp’s dividend payout ratio is presently 28.92%.
In other news, Director Jesus Nestor De purchased 5,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was acquired at an average price of $7.95 per share, for a total transaction of $39,750.00. Following the acquisition, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $42,930. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.56% of the company’s stock.
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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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