Northern Trust Corp Grows Holdings in OFG Bancorp (OFG)
Northern Trust Corp grew its position in shares of OFG Bancorp (NYSE:OFG) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 865,897 shares of the bank’s stock after purchasing an additional 12,756 shares during the period. Northern Trust Corp owned approximately 1.97% of OFG Bancorp worth $8,660,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its stake in OFG Bancorp by 53.8% during the second quarter. BNP Paribas Arbitrage SA now owns 13,649 shares of the bank’s stock worth $136,000 after purchasing an additional 4,775 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in OFG Bancorp by 7.2% during the second quarter. Neuberger Berman Group LLC now owns 14,436 shares of the bank’s stock worth $144,000 after purchasing an additional 966 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in OFG Bancorp during the second quarter worth $150,000. Marshall Wace North America L.P. acquired a new position in OFG Bancorp during the second quarter worth $159,000. Finally, Eagle Global Advisors LLC acquired a new position in OFG Bancorp during the second quarter worth $175,000. Institutional investors own 97.17% of the company’s stock.
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A number of research firms have commented on OFG. Piper Jaffray Companies restated a “hold” rating and set a $11.00 price target on shares of OFG Bancorp in a research note on Friday, October 27th. Sandler O’Neill upgraded OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Monday, October 30th. ValuEngine cut OFG Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 17th. Finally, BidaskClub cut OFG Bancorp from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $12.33.
Shares of OFG Bancorp (NYSE OFG) opened at $7.90 on Thursday. The stock has a market capitalization of $351.58, a price-to-earnings ratio of 6.50 and a beta of 1.62. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.18. OFG Bancorp has a 52 week low of $8.00 and a 52 week high of $14.48.
OFG Bancorp (NYSE:OFG) last announced its quarterly earnings data on Wednesday, October 25th. The bank reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.12. The business had revenue of $98.39 million for the quarter, compared to analysts’ expectations of $90.60 million. OFG Bancorp had a return on equity of 9.05% and a net margin of 11.92%. During the same period last year, the firm earned $0.14 earnings per share. analysts anticipate that OFG Bancorp will post 1.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Thursday, September 28th. OFG Bancorp’s payout ratio is currently 28.92%.
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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