Campbell & CO Investment Adviser LLC Acquires New Holdings in OFG Bancorp (OFG)
Campbell & CO Investment Adviser LLC acquired a new position in OFG Bancorp (NYSE:OFG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,460 shares of the bank’s stock, valued at approximately $141,000.
Other hedge funds also recently bought and sold shares of the company. Everence Capital Management Inc. acquired a new stake in OFG Bancorp in the third quarter worth about $103,000. Virtu KCG Holdings LLC acquired a new stake in OFG Bancorp in the 2nd quarter valued at about $117,000. Dynamic Technology Lab Private Ltd acquired a new stake in OFG Bancorp in the 2nd quarter valued at about $127,000. BNP Paribas Arbitrage SA lifted its holdings in OFG Bancorp by 53.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,649 shares of the bank’s stock valued at $136,000 after acquiring an additional 4,775 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in OFG Bancorp by 7.2% in the 2nd quarter. Neuberger Berman Group LLC now owns 14,436 shares of the bank’s stock valued at $144,000 after acquiring an additional 966 shares during the last quarter. 96.55% of the stock is owned by institutional investors and hedge funds.
Shares of OFG Bancorp (OFG) traded down $0.05 during midday trading on Monday, reaching $9.75. 355,400 shares of the company’s stock were exchanged, compared to its average volume of 248,251. OFG Bancorp has a 52 week low of $7.80 and a 52 week high of $14.48. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.18. The firm has a market cap of $428.49, a P/E ratio of 7.93 and a beta of 1.65.
OFG Bancorp (NYSE:OFG) last issued its quarterly earnings results on Wednesday, October 25th. The bank reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.12. The company had revenue of $98.39 million during the quarter, compared to the consensus estimate of $90.60 million. OFG Bancorp had a net margin of 11.92% and a return on equity of 9.05%. During the same period in the prior year, the company earned $0.14 EPS. sell-side analysts anticipate that OFG Bancorp will post 1.12 EPS for the current year.
The business also recently disclosed 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. The ex-dividend date is Thursday, December 28th. This represents a $0.24 annualized dividend and a yield of 2.46%. OFG Bancorp’s payout ratio is presently 28.92%.
A number of equities research analysts have weighed in on the stock. ValuEngine raised shares of OFG Bancorp from a “hold” rating to a “buy” rating in a report on Friday. Keefe, Bruyette & Woods raised shares of OFG Bancorp from a “market perform” rating to an “outperform” rating in a report on Tuesday, November 28th. Sandler O’Neill raised shares of OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Monday, October 30th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $11.00 price target on shares of OFG Bancorp in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $12.33.
In related news, Director Jesus Nestor De acquired 5,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were purchased at an average price of $7.95 per share, for a total transaction of $39,750.00. Following the acquisition, the director now owns 5,400 shares in the company, valued at $42,930. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.56% of the stock is currently owned by insiders.
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OFG Bancorp Company 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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