OFG Bancorp (OFG) Stake Raised by Geode Capital Management LLC
Geode Capital Management LLC increased its stake in OFG Bancorp (NYSE:OFG) by 15.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 342,368 shares of the bank’s stock after buying an additional 46,215 shares during the period. Geode Capital Management LLC’s holdings in OFG Bancorp were worth $4,039,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Neuberger Berman Group LLC raised its position in shares of OFG Bancorp by 0.9% in the first quarter. Neuberger Berman Group LLC now owns 13,470 shares of the bank’s stock valued at $159,000 after buying an additional 126 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of OFG Bancorp by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 17,900 shares of the bank’s stock valued at $211,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System raised its position in shares of OFG Bancorp by 0.9% in the first quarter. Arizona State Retirement System now owns 22,844 shares of the bank’s stock valued at $270,000 after buying an additional 200 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of OFG Bancorp by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 31,384 shares of the bank’s stock valued at $370,000 after buying an additional 374 shares in the last quarter. Finally, Mason Street Advisors LLC raised its position in shares of OFG Bancorp by 7.0% in the first quarter. Mason Street Advisors LLC now owns 10,269 shares of the bank’s stock valued at $121,000 after buying an additional 673 shares in the last quarter. 99.44% of the stock is owned by institutional investors.
OFG Bancorp (OFG) traded down 1.08% on Thursday, hitting $9.20. 40,511 shares of the stock traded hands. The stock has a 50-day moving average of $9.98 and a 200-day moving average of $11.02. The firm has a market cap of $404.31 million, a price-to-earnings ratio of 8.33 and a beta of 1.48. OFG Bancorp has a 12-month low of $9.05 and a 12-month high of $14.48.
OFG Bancorp (NYSE:OFG) last posted its earnings results on Friday, July 21st. The bank reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. OFG Bancorp had a return on equity of 8.36% and a net margin of 14.58%. The business had revenue of $100.45 million during the quarter, compared to analysts’ expectations of $90.95 million. During the same period in the prior year, the business earned $0.25 EPS. Analysts forecast that OFG Bancorp will post $1.12 earnings per share for the current year.
ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Watch List News and is owned by of Watch List News. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.watchlistnews.com/ofg-bancorp-ofg-stake-raised-by-geode-capital-management-llc/1499447.html.
Several research analysts have weighed in on the stock. BidaskClub lowered shares of OFG Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $12.50 price target on shares of OFG Bancorp in a report on Friday, July 21st. Finally, ValuEngine lowered shares of OFG Bancorp from a “strong-buy” rating to a “buy” rating in a report on Monday, July 17th.
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.
Want to see what other hedge funds are holding OFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OFG Bancorp (NYSE:OFG).
Receive News & Ratings for OFG Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OFG Bancorp and related companies with Analyst Ratings Network's FREE daily email newsletter.