Wellington Management Group LLP Has $249,000 Position in OFG Bancorp (NYSE:OFG)

Wellington Management Group LLP decreased its position in shares of OFG Bancorp (NYSE:OFG) by 89.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 21,131 shares of the bank’s stock after selling 182,892 shares during the period. Wellington Management Group LLP’s holdings in OFG Bancorp were worth $249,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in shares of OFG Bancorp by 2.6% in the first quarter. Principal Financial Group Inc. now owns 333,788 shares of the bank’s stock worth $3,939,000 after buying an additional 8,446 shares during the period. OppenheimerFunds Inc. boosted its position in shares of OFG Bancorp by 125.0% in the first quarter. OppenheimerFunds Inc. now owns 27,909 shares of the bank’s stock worth $329,000 after buying an additional 15,505 shares during the period. ClariVest Asset Management LLC boosted its position in shares of OFG Bancorp by 1.0% in the first quarter. ClariVest Asset Management LLC now owns 83,400 shares of the bank’s stock worth $984,000 after buying an additional 800 shares during the period. AXA bought a new position in shares of OFG Bancorp during the first quarter worth about $227,000. Finally, Neuberger Berman Group LLC boosted its position in shares of OFG Bancorp by 0.9% in the first quarter. Neuberger Berman Group LLC now owns 13,470 shares of the bank’s stock worth $159,000 after buying an additional 126 shares during the period. 99.44% of the stock is currently owned by hedge funds and other institutional investors.

OFG Bancorp (NYSE OFG) traded down 2.00% during mid-day trading on Tuesday, hitting $9.80. The company had a trading volume of 185,747 shares. The stock has a 50 day moving average price of $10.05 and a 200-day moving average price of $11.25. The stock has a market capitalization of $430.67 million, a PE ratio of 8.88 and a beta of 1.48. OFG Bancorp has a 1-year low of $9.05 and a 1-year high of $14.48.

OFG Bancorp (NYSE:OFG) last issued its quarterly earnings results on Friday, July 21st. The bank reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $100.45 million for the quarter, compared to the consensus estimate of $90.95 million. OFG Bancorp had a net margin of 14.58% and a return on equity of 8.36%. During the same period in the prior year, the firm posted $0.25 EPS. On average, analysts forecast that OFG Bancorp will post $1.12 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were issued a dividend of $0.06 per share. The ex-dividend date was Wednesday, June 28th. This represents a $0.24 annualized dividend and a yield of 2.45%. OFG Bancorp’s payout ratio is 22.02%.

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A number of brokerages have recently issued reports on OFG. Piper Jaffray Companies reaffirmed a “hold” rating and set a $12.50 price objective on shares of OFG Bancorp in a research note on Friday, July 21st. BidaskClub cut OFG Bancorp from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. ValuEngine cut OFG Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 17th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $14.00 price objective on shares of OFG Bancorp in a research note on Thursday, April 13th.

About OFG Bancorp

OFG Bancorp is a financial holding company. The Company is engaged in providing banking and financial services through its subsidiaries. The Company operates through three segments: Banking, Wealth Management and Treasury. The Company provides banking and financial services to its clients through a range of banking and financial solutions, including commercial, consumer, auto, and mortgage lending; checking and savings accounts; financial planning, insurance, financial service, and investment brokerage, and corporate and individual trust and retirement services.

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

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