C M Bidwell & Associates Ltd. Has $185,000 Position in OFG Bancorp (OFG)
C M Bidwell & Associates Ltd. boosted its position in shares of OFG Bancorp (NYSE:OFG) by 94.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,475 shares of the bank’s stock after buying an additional 5,560 shares during the quarter. C M Bidwell & Associates Ltd.’s holdings in OFG Bancorp were worth $185,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. acquired a new stake in OFG Bancorp during the third quarter valued at $110,000. Tower Research Capital LLC TRC lifted its holdings in OFG Bancorp by 1,775.7% during the third quarter. Tower Research Capital LLC TRC now owns 9,941 shares of the bank’s stock valued at $160,000 after purchasing an additional 9,411 shares in the last quarter. Sei Investments Co. lifted its holdings in OFG Bancorp by 223.1% during the second quarter. Sei Investments Co. now owns 9,958 shares of the bank’s stock valued at $140,000 after purchasing an additional 6,876 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in OFG Bancorp during the second quarter valued at $144,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in OFG Bancorp during the third quarter valued at $170,000. Institutional investors own 87.19% of the company’s stock.
OFG opened at $17.15 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.14. The firm has a market cap of $932.52 million, a price-to-earnings ratio of 12.89 and a beta of 1.61. OFG Bancorp has a 52-week low of $8.50 and a 52-week high of $18.65.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.63%. This is an increase from OFG Bancorp’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, December 28th. OFG Bancorp’s dividend payout ratio (DPR) is presently 18.05%.
Several research firms have issued reports on OFG. Zacks Investment Research raised shares of OFG Bancorp from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Wednesday, October 24th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $19.00 price objective on shares of OFG Bancorp in a report on Thursday, August 16th. Five investment analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average target price of $17.75.
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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.
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