OFG Bancorp (OFG) Stake Lowered by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP lowered its holdings in OFG Bancorp (NYSE:OFG) by 0.2% in the second quarter, HoldingsChannel.com reports. The firm owned 3,700,377 shares of the bank’s stock after selling 7,557 shares during the period. Dimensional Fund Advisors LP owned 0.08% of OFG Bancorp worth $51,991,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in OFG. Sei Investments Co. grew its position in shares of OFG Bancorp by 223.1% in 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 during the period. Piedmont Investment Advisors LLC purchased a new stake in shares of OFG Bancorp in the second quarter valued at $144,000. Meeder Asset Management Inc. purchased a new stake in shares of OFG Bancorp in the second quarter valued at $153,000. SG Americas Securities LLC purchased a new stake in shares of OFG Bancorp in the second quarter valued at $222,000. Finally, Unison Advisors LLC purchased a new stake in shares of OFG Bancorp in the second quarter valued at $281,000. 96.72% of the stock is owned by institutional investors and hedge funds.
OFG stock opened at $16.20 on Thursday. OFG Bancorp has a 12-month low of $7.80 and a 12-month high of $17.75. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.21. The stock has a market cap of $712.53 million, a price-to-earnings ratio of 12.22 and a beta of 1.80.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Thursday, September 27th. OFG Bancorp’s dividend payout ratio (DPR) is presently 18.05%.
A number of equities research analysts have recently commented on the company. Zacks Investment Research raised OFG Bancorp from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a research report on Thursday, July 26th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $19.00 price objective on shares of OFG Bancorp in a research report on Thursday, August 16th. Sandler O’Neill reaffirmed a “buy” rating and issued a $18.00 price objective on shares of OFG Bancorp in a research report on Friday, July 20th. Finally, TheStreet raised OFG Bancorp from a “c+” rating to a “b” rating in a research report on Monday, July 23rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $17.50.
OFG Bancorp Company Profile
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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