OFG Bancorp (OFG) Stake Decreased by Renaissance Technologies LLC
Renaissance Technologies LLC reduced its position in OFG Bancorp (NYSE:OFG) by 17.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 238,870 shares of the bank’s stock after selling 51,083 shares during the period. Renaissance Technologies LLC owned 0.54% of OFG Bancorp worth $2,819,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Mason Street Advisors LLC boosted 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 worth $121,000 after buying an additional 673 shares during the last quarter. Brandes Investment Partners LP bought a new position in shares of OFG Bancorp during the first quarter worth approximately $124,000. Neuberger Berman Group LLC boosted 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 worth $159,000 after buying an additional 126 shares during the last quarter. Acrospire Investment Management LLC boosted its position in shares of OFG Bancorp by 11.1% in the first quarter. Acrospire Investment Management LLC now owns 14,292 shares of the bank’s stock worth $169,000 after buying an additional 1,429 shares during the last quarter. Finally, Hancock Holding Co. boosted its position in shares of OFG Bancorp by 17.4% in the first quarter. Hancock Holding Co. now owns 15,271 shares of the bank’s stock worth $180,000 after buying an additional 2,261 shares during the last quarter. Institutional investors own 99.44% of the company’s stock.
OFG Bancorp (OFG) traded up 0.53% on Monday, reaching $9.40. The company’s stock had a trading volume of 9,444 shares. The stock’s 50 day moving average price is $10.01 and its 200 day moving average price is $11.13. The firm has a market cap of $413.10 million, a PE ratio of 8.51 and a beta of 1.48. OFG Bancorp has a 52-week low of $9.05 and a 52-week high of $14.48.
OFG Bancorp (NYSE:OFG) last announced its quarterly earnings data on Friday, July 21st. The bank reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. The firm had revenue of $100.45 million for the quarter, compared to analyst estimates of $90.95 million. OFG Bancorp had a return on equity of 8.36% and a net margin of 14.58%. During the same period in the prior year, the company earned $0.25 EPS. Equities research analysts expect that OFG Bancorp will post $1.12 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.24 annualized dividend and a dividend yield of 2.57%. OFG Bancorp’s dividend payout ratio (DPR) is presently 22.02%.
A number of research analysts recently commented on OFG shares. ValuEngine cut OFG Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 17th. Piper Jaffray Companies restated a “hold” rating and issued a $12.50 price target on shares of OFG Bancorp in a research report on Friday, July 21st. Finally, BidaskClub cut OFG Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th.
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.
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