Renaissance Technologies LLC lowered its stake in shares of OFG Bancorp (NYSE:OFG) by 17.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238,870 shares of the bank’s stock after selling 51,083 shares during the period. Renaissance Technologies LLC’s holdings in OFG Bancorp were worth $2,819,000 as of its most recent filing with the SEC.
Other institutional investors have 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 during the period. Louisiana State Employees Retirement System raised its position in 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 during the last quarter. Arizona State Retirement System raised its position in 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 during the last quarter. Massachusetts Financial Services Co. MA raised its position in 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 during the last quarter. Finally, Mason Street Advisors LLC raised its position in 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 during the last quarter. Hedge funds and other institutional investors own 99.44% of the company’s stock.
OFG Bancorp (NYSE OFG) traded up 0.53% during trading on Monday, reaching $9.40. The company had a trading volume of 9,444 shares. The firm’s 50 day moving average is $10.01 and its 200 day moving average is $11.13. OFG Bancorp has a one year low of $9.05 and a one year high of $14.48. The company has a market capitalization of $413.10 million, a PE ratio of 8.51 and a beta of 1.48.
OFG Bancorp (NYSE:OFG) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The firm had revenue of $100.45 million during 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 quarter in the previous year, the business earned $0.25 earnings per share. On average, equities research analysts predict that OFG Bancorp will post $1.12 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were issued a $0.06 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.57%. OFG Bancorp’s payout ratio is 22.02%.
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Several research firms recently issued reports on OFG. Piper Jaffray Companies restated a “hold” rating and set a $12.50 price target on shares of OFG Bancorp in a research report on Friday, July 21st. BidaskClub lowered OFG Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. Finally, ValuEngine lowered OFG Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 17th.
About OFG Bancorp
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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