Barrow Hanley Mewhinney & Strauss LLC reduced its stake in OFG Bancorp (NYSE:OFG – Free Report) by 16.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,599,769 shares of the bank’s stock after selling 309,973 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC’s holdings in OFG Bancorp were worth $59,911,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Sei Investments Co. increased its position in OFG Bancorp by 385.4% during the 2nd quarter. Sei Investments Co. now owns 30,364 shares of the bank’s stock valued at $1,137,000 after buying an additional 24,109 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of OFG Bancorp in the second quarter worth $472,000. Inspire Investing LLC bought a new position in shares of OFG Bancorp during the second quarter valued at $796,000. XTX Topco Ltd raised its position in shares of OFG Bancorp by 7.6% in the 2nd quarter. XTX Topco Ltd now owns 7,974 shares of the bank’s stock worth $299,000 after purchasing an additional 566 shares during the last quarter. Finally, Denali Advisors LLC bought a new position in OFG Bancorp in the 2nd quarter worth about $1,232,000. 92.73% of the stock is owned by institutional investors.
Insider Buying and Selling
In other OFG Bancorp news, Director Jorge Colon sold 33,081 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $45.73, for a total value of $1,512,794.13. Following the transaction, the director now owns 70,919 shares of the company’s stock, valued at $3,243,125.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.11% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Check Out Our Latest Research Report on OFG Bancorp
OFG Bancorp Price Performance
OFG opened at $44.68 on Friday. The company’s 50-day simple moving average is $43.88 and its two-hundred day simple moving average is $39.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $2.10 billion, a P/E ratio of 11.43 and a beta of 0.99. OFG Bancorp has a 52-week low of $28.18 and a 52-week high of $47.57.
OFG Bancorp (NYSE:OFG – Get Free Report) last issued its quarterly earnings data on Thursday, July 18th. The bank reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.12. OFG Bancorp had a net margin of 22.95% and a return on equity of 16.25%. The company had revenue of $179.40 million for the quarter, compared to the consensus estimate of $176.09 million. During the same quarter in the prior year, the firm earned $0.93 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, analysts predict that OFG Bancorp will post 4.27 EPS for the current year.
OFG Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.25 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.24%. OFG Bancorp’s dividend payout ratio (DPR) is currently 25.58%.
OFG Bancorp Profile
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, and individual retirement accounts; certificate of deposits, as well as time deposit products; commercial, consumer, auto leasing, and mortgage lending services; credit cards; cash management; financial planning and insurance services; and corporate and individual trust, and retirement services.
Recommended Stories
- Five stocks we like better than OFG Bancorp
- How to Calculate Retirement Income: MarketBeat’s Calculator
- Take Advantage of Village Farms Stock as Cannabis Market Evolves
- CD Calculator: Certificate of Deposit Calculator
- MarketBeat Week in Review – 9/16 – 9/20
- How is Compound Interest Calculated?
- Don’t Miss These 3 Retail Stocks for Fall Gains
Want to see what other hedge funds are holding OFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OFG Bancorp (NYSE:OFG – Free Report).
Receive News & Ratings for OFG Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OFG Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.