Stevens Capital Management LP Has $225,000 Stake in OFG Bancorp (OFG)
Stevens Capital Management LP trimmed its position in OFG Bancorp (NYSE:OFG) by 15.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,516 shares of the bank’s stock after selling 4,168 shares during the quarter. Stevens Capital Management LP owned about 0.05% of OFG Bancorp worth $225,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of OFG. Vanguard Group Inc. boosted its holdings in shares of OFG Bancorp by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 4,786,813 shares of the bank’s stock worth $56,484,000 after buying an additional 452,121 shares during the period. State Street Corp grew its stake in OFG Bancorp by 31.6% in the 1st quarter. State Street Corp now owns 1,749,823 shares of the bank’s stock valued at $20,653,000 after buying an additional 420,589 shares during the last quarter. Stilwell Value LLC grew its stake in OFG Bancorp by 6.1% in the 2nd quarter. Stilwell Value LLC now owns 1,328,964 shares of the bank’s stock valued at $13,290,000 after buying an additional 76,963 shares during the last quarter. LSV Asset Management grew its stake in OFG Bancorp by 0.3% in the 2nd quarter. LSV Asset Management now owns 1,324,706 shares of the bank’s stock valued at $13,247,000 after buying an additional 3,400 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in OFG Bancorp by 11.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 958,265 shares of the bank’s stock worth $9,582,000 after acquiring an additional 96,946 shares during the period. Institutional investors and hedge funds own 99.44% of the company’s stock.
Shares of OFG Bancorp (NYSE OFG) opened at 9.15 on Monday. The company has a market cap of $402.12 million, a P/E ratio of 8.29 and a beta of 1.52. The company’s 50-day moving average price is $9.25 and its 200 day moving average price is $10.31. OFG Bancorp has a 52 week low of $8.40 and a 52 week high of $14.48.
OFG Bancorp (NYSE:OFG) last released its quarterly earnings data on Friday, July 21st. The bank reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.04. The company had revenue of $100.45 million for the quarter, compared to analyst estimates of $90.95 million. OFG Bancorp had a net margin of 14.58% and a return on equity of 8.36%. During the same period in the previous year, the business earned $0.25 EPS. On average, equities analysts forecast that OFG Bancorp will post $1.12 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a $0.06 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.24 annualized dividend and a yield of 2.62%. OFG Bancorp’s dividend payout ratio (DPR) is currently 22.02%.
OFG has been the subject of a number of research analyst reports. BidaskClub lowered shares of OFG Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. Piper Jaffray Companies restated a “hold” rating and set a $12.50 price target on shares of OFG Bancorp in a report on Friday, July 21st. Finally, ValuEngine downgraded OFG Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 17th.
OFG Bancorp 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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