ClariVest Asset Management LLC grew its position in OFG Bancorp (NYSE:OFG) by 16.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 99,700 shares of the bank’s stock after buying an additional 13,800 shares during the period. ClariVest Asset Management LLC’s holdings in OFG Bancorp were worth $1,401,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in OFG. Wells Fargo & Company MN boosted its stake in OFG Bancorp by 719.5% in the 1st quarter. Wells Fargo & Company MN now owns 217,975 shares of the bank’s stock worth $2,278,000 after purchasing an additional 191,376 shares during the period. Mackay Shields LLC acquired a new position in OFG Bancorp in the 1st quarter worth $3,794,000. Engineers Gate Manager LP boosted its stake in OFG Bancorp by 62.7% in the 1st quarter. Engineers Gate Manager LP now owns 76,455 shares of the bank’s stock worth $799,000 after purchasing an additional 29,451 shares during the period. Stevens Capital Management LP acquired a new position in OFG Bancorp in the 1st quarter worth $170,000. Finally, Alpine Woods Capital Investors LLC boosted its stake in OFG Bancorp by 103.7% in the 1st quarter. Alpine Woods Capital Investors LLC now owns 55,000 shares of the bank’s stock worth $575,000 after purchasing an additional 28,000 shares during the period. 96.72% of the stock is owned by hedge funds and other institutional investors.
In other OFG Bancorp news, Director Jesus Nestor De acquired 5,000 shares of OFG Bancorp stock in a transaction dated Thursday, June 28th. The stock was bought at an average cost of $14.10 per share, for a total transaction of $70,500.00. Following the purchase, the director now directly owns 15,000 shares in the company, valued at approximately $211,500. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.39% of the company’s stock.
Shares of NYSE OFG opened at $16.35 on Friday. OFG Bancorp has a 1-year low of $7.80 and a 1-year high of $17.75. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $712.53 million, a P/E ratio of 12.29 and a beta of 1.80.
OFG Bancorp (NYSE:OFG) last posted its quarterly earnings data on Friday, July 20th. The bank reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.10. OFG Bancorp had a net margin of 13.67% and a return on equity of 10.07%. The company had revenue of $96.29 million during the quarter, compared to the consensus estimate of $90.30 million. sell-side analysts expect that OFG Bancorp will post 1.39 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, September 27th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.47%. OFG Bancorp’s dividend payout ratio is 18.05%.
OFG has been the subject of a number of research analyst reports. TheStreet raised shares of OFG Bancorp from a “c+” rating to a “b” rating in a research note on Monday, July 23rd. Piper Jaffray Companies reaffirmed a “buy” rating on shares of OFG Bancorp in a research note on Monday, July 23rd. Sandler O’Neill reaffirmed a “buy” rating and issued a $18.00 target price on shares of OFG Bancorp in a research note on Friday, July 20th. Finally, Zacks Investment Research raised shares of OFG Bancorp from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Thursday, May 17th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. OFG Bancorp has a consensus rating of “Buy” and a consensus price target of $17.50.
OFG Bancorp 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; and financial planning, investment brokerage, corporate and individual trust, and retirement services.
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