Dynamic Technology Lab Private Ltd trimmed its stake in OFG Bancorp (NYSE:OFG) by 55.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,049 shares of the bank’s stock after selling 12,557 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in OFG Bancorp were worth $142,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WBI Investments Inc. acquired a new position in shares of OFG Bancorp in the second quarter worth $1,838,000. Millennium Management LLC acquired a new position in shares of OFG Bancorp in the first quarter worth $303,000. UBS Group AG raised its holdings in shares of OFG Bancorp by 61.4% in the first quarter. UBS Group AG now owns 80,463 shares of the bank’s stock worth $840,000 after acquiring an additional 30,625 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of OFG Bancorp by 2.4% in the first quarter. Principal Financial Group Inc. now owns 336,846 shares of the bank’s stock worth $3,520,000 after acquiring an additional 7,990 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of OFG Bancorp by 7.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 146,125 shares of the bank’s stock worth $2,053,000 after acquiring an additional 9,700 shares during the last quarter. 96.72% of the stock is owned by institutional investors.

OFG has been the subject of a number of analyst reports. Zacks Investment Research cut OFG Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Piper Jaffray Companies raised OFG Bancorp from a “neutral” rating to an “overweight” rating and set a $7.50 price target for the company in a report on Monday, July 16th. Sandler O’Neill reissued a “buy” rating and issued a $18.00 price target on shares of OFG Bancorp in a report on Friday, July 20th. Finally, TheStreet raised OFG Bancorp from a “c+” rating to a “b” rating in a report on Monday, July 23rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. OFG Bancorp presently has an average rating of “Buy” and a consensus price target of $17.50.

Shares of NYSE:OFG opened at $16.20 on Thursday. The firm has a market capitalization of $712.53 million, a PE ratio of 12.18 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 52 week low of $7.80 and a 52 week 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, beating the Zacks’ consensus estimate of $0.25 by $0.10. The business had revenue of $96.29 million during the quarter, compared to the consensus estimate of $90.30 million. OFG Bancorp had a return on equity of 10.07% and a net margin of 13.67%. research analysts anticipate that OFG Bancorp will post 1.39 earnings per share for the current fiscal 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 given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Thursday, September 27th. OFG Bancorp’s dividend payout ratio is currently 18.05%.

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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Institutional Ownership by Quarter for OFG Bancorp (NYSE:OFG)

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