Versor Investments LP Takes $1.12 Million Position in OFG Bancorp $OFG

Versor Investments LP purchased a new stake in shares of OFG Bancorp (NYSE:OFG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 26,208 shares of the bank’s stock, valued at approximately $1,122,000. Versor Investments LP owned approximately 0.06% of OFG Bancorp as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. SummerHaven Investment Management LLC raised its stake in shares of OFG Bancorp by 1.9% during the second quarter. SummerHaven Investment Management LLC now owns 20,898 shares of the bank’s stock valued at $894,000 after acquiring an additional 391 shares in the last quarter. Wedge Capital Management L L P NC raised its stake in OFG Bancorp by 1.5% in the second quarter. Wedge Capital Management L L P NC now owns 26,409 shares of the bank’s stock worth $1,130,000 after buying an additional 394 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in OFG Bancorp by 2.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,719 shares of the bank’s stock worth $1,069,000 after buying an additional 552 shares in the last quarter. Alps Advisors Inc. raised its stake in OFG Bancorp by 8.8% in the first quarter. Alps Advisors Inc. now owns 8,799 shares of the bank’s stock worth $352,000 after buying an additional 709 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in OFG Bancorp by 5.0% in the second quarter. State of Alaska Department of Revenue now owns 26,707 shares of the bank’s stock worth $1,142,000 after buying an additional 1,275 shares in the last quarter. Institutional investors own 92.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Zacks Research raised shares of OFG Bancorp to a “hold” rating in a research note on Friday, October 10th. Wall Street Zen raised shares of OFG Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, July 20th. UBS Group set a $50.00 price objective on shares of OFG Bancorp in a research note on Thursday, October 9th. Weiss Ratings reissued a “buy (b)” rating on shares of OFG Bancorp in a research note on Wednesday, October 8th. Finally, Truist Financial reduced their price objective on shares of OFG Bancorp from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $47.17.

OFG Bancorp Price Performance

NYSE OFG opened at $38.68 on Monday. The firm’s fifty day simple moving average is $42.88 and its two-hundred day simple moving average is $42.33. The company has a current ratio of 0.85, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33. OFG Bancorp has a 12-month low of $33.15 and a 12-month high of $47.66. The firm has a market capitalization of $1.72 billion, a P/E ratio of 8.79 and a beta of 0.80.

OFG Bancorp (NYSE:OFG) last released its quarterly earnings results on Wednesday, October 22nd. The bank reported $1.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.16. OFG Bancorp had a net margin of 22.26% and a return on equity of 15.18%. The business had revenue of $184.00 million for the quarter, compared to analyst estimates of $186.71 million. During the same period in the previous year, the company earned $1.00 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. Analysts forecast that OFG Bancorp will post 4.18 EPS for the current fiscal year.

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.