Mutual of America Capital Management LLC Has $162,000 Stock Position in OFG Bancorp (NYSE:OFG)

Mutual of America Capital Management LLC increased its stake in shares of OFG Bancorp (NYSE:OFG) by 7.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 7,341 shares of the bank’s stock after buying an additional 478 shares during the period. Mutual of America Capital Management LLC’s holdings in OFG Bancorp were worth $162,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of OFG. Monarch Partners Asset Management LLC lifted its position in OFG Bancorp by 261.9% during the 2nd quarter. Monarch Partners Asset Management LLC now owns 476,626 shares of the bank’s stock valued at $10,543,000 after purchasing an additional 344,936 shares during the period. EJF Capital LLC acquired a new position in OFG Bancorp during the 1st quarter valued at about $5,025,000. Goldman Sachs Group Inc. lifted its position in OFG Bancorp by 116.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 390,253 shares of the bank’s stock valued at $8,828,000 after purchasing an additional 209,943 shares during the period. Arctis Global LLC lifted its position in OFG Bancorp by 6.8% during the 1st quarter. Arctis Global LLC now owns 1,915,756 shares of the bank’s stock valued at $43,334,000 after purchasing an additional 121,217 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in OFG Bancorp during the 1st quarter valued at about $2,239,000. Institutional investors and hedge funds own 91.35% of the company’s stock.

Shares of NYSE:OFG opened at $23.70 on Friday. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 10.49 and a beta of 1.49. The firm’s 50 day simple moving average is $22.94 and its 200 day simple moving average is $23.05. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.00 and a quick ratio of 1.00. OFG Bancorp has a fifty-two week low of $11.97 and a fifty-two week high of $25.52.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings results on Tuesday, July 20th. The bank reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.25. The business had revenue of $134.45 million for the quarter, compared to the consensus estimate of $127.80 million. OFG Bancorp had a net margin of 21.14% and a return on equity of 12.84%. Equities research analysts expect that OFG Bancorp will post 2.76 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Thursday, September 30th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.03%. This is a boost from OFG Bancorp’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, September 29th. OFG Bancorp’s dividend payout ratio is presently 21.77%.

Separately, Zacks Investment Research upgraded shares of OFG Bancorp from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Friday, July 2nd.

OFG Bancorp Company Profile

OFG Bancorp is a holding company, which engages in the provision of banking and financial services. It operates through the following segments: Banking, Wealth Management, and Treasury. The Banking segment includes its branches and traditional banking products such as deposits and commercial, consumer, and mortgage loans.

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

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