Metropolitan Life Insurance Co NY Acquires 1,993 Shares of OFG Bancorp (NYSE:OFG)

Metropolitan Life Insurance Co NY boosted its holdings in shares of OFG Bancorp (NYSE:OFG) by 13.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,637 shares of the bank’s stock after purchasing an additional 1,993 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in OFG Bancorp were worth $364,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of OFG. Marshall Wace North America L.P. bought a new stake in OFG Bancorp during the 1st quarter valued at approximately $53,000. Tower Research Capital LLC TRC grew its holdings in OFG Bancorp by 168.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,037 shares of the bank’s stock valued at $72,000 after buying an additional 1,906 shares in the last quarter. Quantamental Technologies LLC grew its holdings in OFG Bancorp by 19.8% during the 2nd quarter. Quantamental Technologies LLC now owns 4,645 shares of the bank’s stock valued at $110,000 after buying an additional 767 shares in the last quarter. USA Financial Portformulas Corp grew its holdings in OFG Bancorp by 7.9% during the 2nd quarter. USA Financial Portformulas Corp now owns 9,030 shares of the bank’s stock valued at $179,000 after buying an additional 664 shares in the last quarter. Finally, Zebra Capital Management LLC purchased a new position in OFG Bancorp during the 2nd quarter valued at approximately $217,000. 94.74% of the stock is currently owned by institutional investors.

Several research firms have weighed in on OFG. Zacks Investment Research cut OFG Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, October 24th. ValuEngine cut OFG Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd.

NYSE OFG opened at $22.55 on Friday. The stock has a market capitalization of $1.14 billion, a PE ratio of 14.84 and a beta of 1.59. The business has a 50 day simple moving average of $21.14 and a two-hundred day simple moving average of $21.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. OFG Bancorp has a 1-year low of $14.96 and a 1-year high of $24.95.

OFG Bancorp (NYSE:OFG) last released its quarterly earnings results on Monday, October 21st. The bank reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. The business had revenue of $102.89 million during the quarter, compared to analysts’ expectations of $97.40 million. OFG Bancorp had a return on equity of 10.36% and a net margin of 17.12%. On average, analysts anticipate that OFG Bancorp will post 1.78 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Monday, December 30th. OFG Bancorp’s dividend payout ratio is presently 18.42%.

In related news, Director Edwin Perez bought 40,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was purchased at an average price of $20.21 per share, for a total transaction of $808,400.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at $101,050. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.32% of the company’s stock.

OFG Bancorp Profile

OFG Bancorp, a financial holding company, provides various banking and financial services. It operates in 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 products; financial planning, insurance, financial services, and investment brokerage; 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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