LSV Asset Management Has $36.20 Million Holdings in OFG Bancorp (OFG)
LSV Asset Management raised its position in shares of OFG Bancorp (NYSE:OFG) by 0.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,829,139 shares of the bank’s stock after buying an additional 1,700 shares during the period. LSV Asset Management’s holdings in OFG Bancorp were worth $36,198,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of OFG. American International Group Inc. increased its stake in shares of OFG Bancorp by 147.6% in the first quarter. American International Group Inc. now owns 83,309 shares of the bank’s stock valued at $1,649,000 after buying an additional 49,656 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in OFG Bancorp by 5.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 50,787 shares of the bank’s stock worth $1,005,000 after purchasing an additional 2,529 shares during the period. Victory Capital Management Inc. acquired a new stake in OFG Bancorp in the first quarter worth about $302,000. Advisors Preferred LLC acquired a new stake in OFG Bancorp in the first quarter worth about $247,000. Finally, Texas Permanent School Fund increased its position in OFG Bancorp by 3.8% in the first quarter. Texas Permanent School Fund now owns 29,604 shares of the bank’s stock worth $586,000 after purchasing an additional 1,073 shares during the period. 91.28% of the stock is owned by institutional investors.
Shares of OFG opened at $19.68 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. OFG Bancorp has a 1 year low of $13.85 and a 1 year high of $21.64. The stock has a market cap of $982.97 million, a price-to-earnings ratio of 12.95 and a beta of 1.47.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Thursday, June 27th. OFG Bancorp’s dividend payout ratio (DPR) is presently 18.42%.
A number of brokerages recently commented on OFG. Zacks Investment Research upgraded OFG Bancorp from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Wednesday, April 24th. ValuEngine lowered OFG Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $19.33.
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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; financial planning, insurance, financial services, and investment brokerage; and corporate and individual trust, and retirement services.
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