JPMorgan Chase & Co. increased its holdings in OFG Bancorp by 4.8% in Q3, now owning 1.37% of the company. OFG Bancorp’s board also approved a $200 million share repurchase plan and raised its quarterly dividend to $0.35, signaling management’s belief that the stock may be undervalued. Despite beating earnings and revenue expectations, analysts maintain a “Hold” rating with a consensus price target of $45.83.
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JPMorgan Chase & Co. Boosts Stake in OFG Bancorp $OFG
JPMorgan Chase & Co. increased its holdings in OFG Bancorp by 4.8% in Q3, now owning 1.37% of the company. OFG Bancorp’s board also approved a $200 million share repurchase plan and raised its quarterly dividend to $0.35, signaling management’s belief that the stock may be undervalued. Despite beating earnings and revenue expectations, analysts maintain a “Hold” rating with a consensus price target of $45.83.