11,530 Shares in OFG Bancorp (NYSE:OFG) Bought by Everence Capital Management Inc.

Everence Capital Management Inc. bought a new position in OFG Bancorp (NYSE:OFGGet Rating) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,530 shares of the bank’s stock, valued at approximately $307,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in OFG Bancorp in the 4th quarter worth $244,000. C M Bidwell & Associates Ltd. acquired a new position in OFG Bancorp in the 4th quarter worth $261,000. Teacher Retirement System of Texas boosted its stake in shares of OFG Bancorp by 20.0% during the 4th quarter. Teacher Retirement System of Texas now owns 9,936 shares of the bank’s stock worth $264,000 after buying an additional 1,659 shares during the last quarter. ProShare Advisors LLC acquired a new position in shares of OFG Bancorp during the 4th quarter worth about $326,000. Finally, Shell Asset Management Co. boosted its stake in shares of OFG Bancorp by 2.9% during the 4th quarter. Shell Asset Management Co. now owns 23,145 shares of the bank’s stock worth $615,000 after buying an additional 661 shares during the last quarter. 93.98% of the stock is owned by hedge funds and other institutional investors.

Separately, StockNews.com downgraded shares of OFG Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 20th.

OFG Bancorp stock opened at $26.61 on Thursday. The firm has a 50-day moving average of $27.08 and a 200-day moving average of $27.13. OFG Bancorp has a one year low of $19.78 and a one year high of $30.93. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 8.84 and a beta of 1.21.

OFG Bancorp (NYSE:OFGGet Rating) last issued its earnings results on Thursday, April 21st. The bank reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.12. The company had revenue of $136.40 million for the quarter, compared to analysts’ expectations of $132.50 million. OFG Bancorp had a net margin of 26.28% and a return on equity of 14.53%. During the same period in the prior year, the firm earned $0.56 EPS. As a group, sell-side analysts expect that OFG Bancorp will post 3.1 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.25%. OFG Bancorp’s payout ratio is 19.93%.

In other news, Director Jorge Colon bought 19,215 shares of the company’s stock in a transaction dated Monday, April 25th. The shares were bought at an average cost of $26.01 per share, with a total value of $499,782.15. Following the acquisition, the director now owns 95,784 shares in the company, valued at $2,491,341.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.66% of the stock is currently owned by corporate insiders.

OFG Bancorp Profile (Get Rating)

OFG Bancorp, a financial holding company, provides a range of banking and financial services. It operates through three segments: Banking, Wealth Management, and Treasury. The company offers checking and savings accounts, as well as time deposit products; commercial, consumer, auto, and mortgage lending services; financial planning and insurance services; and corporate and individual trust, and retirement services.

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Institutional Ownership by Quarter for OFG Bancorp (NYSE:OFG)

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