American Century Companies Inc. lowered its holdings in shares of OFG Bancorp (NYSE:OFG) by 21.5% in the second quarter, HoldingsChannel.com reports. The firm owned 235,227 shares of the bank’s stock after selling 64,587 shares during the quarter. American Century Companies Inc.’s holdings in OFG Bancorp were worth $3,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also modified their holdings of the company. Sei Investments Co. raised its position in OFG Bancorp by 223.1% during the 2nd quarter. Sei Investments Co. now owns 9,958 shares of the bank’s stock worth $140,000 after buying an additional 6,876 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in OFG Bancorp during the 2nd quarter worth $144,000. Meeder Asset Management Inc. purchased a new position in OFG Bancorp during the 2nd quarter worth $153,000. Stevens Capital Management LP purchased a new position in OFG Bancorp during the 1st quarter worth $170,000. Finally, SG Americas Securities LLC purchased a new position in OFG Bancorp during the 2nd quarter worth $222,000. Hedge funds and other institutional investors own 96.72% of the company’s stock.
Shares of OFG Bancorp stock opened at $16.30 on Friday. The firm has a market cap of $734.52 million, a price-to-earnings ratio of 12.26 and a beta of 1.80. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.21. OFG Bancorp has a one year low of $7.80 and a one year high of $17.75.
OFG Bancorp (NYSE:OFG) last announced 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. The company had revenue of $96.29 million during the quarter, compared to the consensus estimate of $90.30 million. OFG Bancorp had a net margin of 13.67% and a return on equity of 10.07%. equities research analysts forecast that OFG Bancorp will post 1.39 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be issued a $0.06 dividend. 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 presently 18.05%.
A number of equities analysts have commented on OFG shares. TheStreet upgraded shares of OFG Bancorp from a “c+” rating to a “b” rating in a research report on Monday, July 23rd. Piper Jaffray Companies restated a “buy” rating on shares of OFG Bancorp in a research report on Monday, July 23rd. Zacks Investment Research downgraded shares of OFG Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Finally, Sandler O’Neill restated a “buy” rating and set a $18.00 price objective on shares of OFG Bancorp in a research report on Friday, July 20th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $17.50.
In related news, Director Jesus Nestor De purchased 5,000 shares of the business’s stock in a transaction dated Thursday, June 28th. The stock was acquired at an average price of $14.10 per share, for a total transaction of $70,500.00. Following the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $211,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.39% of the company’s stock.
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; and financial planning, investment brokerage, corporate and individual trust, and retirement services.
Further Reading: Dividend Stocks – Are They Right For You?
Want to see what other hedge funds are holding OFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OFG Bancorp (NYSE:OFG).
Receive News & Ratings for OFG Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OFG Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.