Louisiana State Employees Retirement System purchased a new position in shares of OFG Bancorp (NYSE:OFG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 23,500 shares of the bank's stock, valued at approximately $881,000.
Several other hedge funds have also recently modified their holdings of the stock. SG Americas Securities LLC raised its position in shares of OFG Bancorp by 1.5% during the 4th quarter. SG Americas Securities LLC now owns 22,002 shares of the bank's stock worth $825,000 after purchasing an additional 329 shares during the last quarter. Swiss National Bank raised its holdings in OFG Bancorp by 0.6% in the 3rd quarter. Swiss National Bank now owns 104,400 shares of the bank's stock valued at $3,117,000 after acquiring an additional 600 shares during the last quarter. Diversified Trust Co raised its holdings in OFG Bancorp by 6.3% in the 4th quarter. Diversified Trust Co now owns 13,308 shares of the bank's stock valued at $499,000 after acquiring an additional 787 shares during the last quarter. BluePath Capital Management LLC acquired a new stake in OFG Bancorp in the 3rd quarter valued at about $32,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in OFG Bancorp by 6.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,920 shares of the bank's stock valued at $774,000 after acquiring an additional 1,477 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company's stock.
Insider Activity
In other news, insider Ganesh Kumar sold 9,071 shares of the firm's stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $35.18, for a total value of $319,117.78. Following the sale, the insider now directly owns 144,502 shares in the company, valued at approximately $5,083,580.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 34,536 shares of company stock worth $1,238,317. 3.11% of the stock is currently owned by corporate insiders.
OFG Bancorp Trading Down 0.4 %
Shares of NYSE:OFG traded down $0.13 during mid-day trading on Friday, reaching $36.33. 154,776 shares of the company were exchanged, compared to its average volume of 242,239. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 9.29 and a beta of 1.09. The firm's 50-day simple moving average is $35.77 and its 200 day simple moving average is $34.90. OFG Bancorp has a 1 year low of $22.34 and a 1 year high of $39.04.
OFG Bancorp (NYSE:OFG - Get Free Report) last posted its quarterly earnings data on Thursday, April 18th. The bank reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.10. OFG Bancorp had a net margin of 23.00% and a return on equity of 16.10%. The firm had revenue of $213.49 million during the quarter, compared to analysts' expectations of $175.20 million. During the same quarter last year, the company posted $0.96 EPS. Equities research analysts forecast that OFG Bancorp will post 4.02 EPS for the current year.
OFG Bancorp Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.75%. This is a positive change from OFG Bancorp's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, March 27th. OFG Bancorp's dividend payout ratio (DPR) is presently 25.58%.
Wall Street Analysts Forecast Growth
Separately, Wells Fargo & Company cut their price objective on shares of OFG Bancorp from $41.00 to $40.00 and set an "overweight" rating for the company in a report on Wednesday, April 10th.
Check Out Our Latest Stock Analysis on OFG
OFG Bancorp Profile
(
Free Report)
OFG Bancorp, a financial holding company, provides a range of banking and financial services. It operates through three segments: Banking, Wealth Management, and Treasury. The company offers checking and savings accounts, and individual retirement accounts; certificate of deposits, as well as time deposit products; commercial, consumer, auto leasing, and mortgage lending services; credit cards; cash management; financial planning and insurance services; and corporate and individual trust, and retirement services.
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