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This is a stock I'm keeping. I bought more on 12/2. It'll pay dividends while eventually achieving 15%. So it is a win-win. Patience.
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Last edited by df21084; 12-14-2004, 05:47 PM.Happy investing,
Dave
My opinion is worth no more than the price you paid for me to give it. -
What happened today? Some big news must have caused volume spike. My ticker showed off 1.24 at market close . Now it says -.45. It was just cruising along then this.
billyjoeComment
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Maybe you should post something on the Yahoo OFG board. It's kind of lonely over there.Originally posted by billyjoe=============================
I am HUGE! Bring me your finest meats and cheeses.
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I wonder if it's because of the latest Fed hike. I can't find any news, especially bad news, anywhere.
Oh well ... I think this is a great stock. Maybe I'll buy more.Happy investing,
Dave
My opinion is worth no more than the price you paid for me to give it.Comment
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Edgar online reports one Elmer G. possibly an officer of OFG disposed of 3400 shares for 29.25 on Dec. 13th. Report issued at 4:17 est Dec.14th.
billyjoeComment
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OFG's Drop
BillyJoe,
OFG has been, like all banking stocks, affected by the rising interest rates. People panic with the thought of rising interest. It was only a .25% raise, and even after the last rise, interest rates for home loans actually FELL, but still, in the market, fear and greed rules, not common sense. I no longer own OFG, but I think it is a safe stock that isn't going anywhere (up or down) anytime soon.
Best of trading to you.Comment
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Mr. Market,
I'd like to thank you again for sharing your insight with us all .
You've shown us all that the stock market isn't just a "my way or the highway" situation. You've opened our minds to endless possibilities.
I've got OFG in 5 different portfolios including the kids, all purchased at different times and prices. At todays close of 28.31 and figuring in the 10% stock dividend coming , we're ahead on all of them. To those who say I'm counting chickens before they're hatched . I tell you these babies have hatched and are already running around. 2005 will be even better for Mr.Market and fellow investors. HAPPY NEW YEAR
billyjoeComment
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Well, OFG finally came through on their 10% stock dividend. It just showed up
on my account this evening. I don't think the foreign tax will be taken out of it like it was on the cash dividend. Don't you just hate paying that 10% to Puerto Rico? When did P.R. become oriental anyway?
billyjoeComment
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OFG -- Horrible news!
Not!
Oriental Financial Group Net Income Increases 18.0% in Second Quarter of Fiscal 2005, and 22.8% Year to Date
Happy investing,
Dave
My opinion is worth no more than the price you paid for me to give it.Comment
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earnings earnings earnings=============================
I am HUGE! Bring me your finest meats and cheeses.
- $$$MR. MARKET$$$Comment
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OFG News!
Oriental Financial Group Opens First Commercial Loan Office
Friday February 18, 8:57 am ET
SAN JUAN, Puerto Rico--(BUSINESS WIRE)--Feb. 18, 2005--Oriental Financial Group Inc. (NYSE: OFG - News) has opened its first commercial loan office outside of corporate headquarters. The new office is located in the Torre Chardon office building in Hato Rey, next to an Oriental retail financial center. It is expected to increase the Group's penetration of the San Juan metro market, in particular the Golden Mile District, which includes the financial center of San Juan, Plaza Las Americas and Clinica Las Americas.
Today's announcement represents the second phase of development of Oriental's rapidly growing commercial lending business, which was relaunched in December 2003 by Nestor Vale and Francisco Portero.
Since then, booked commercial loans have increased 101.2%, to $109.1 million, as of December 31, 2004, and commercial loan production has increased 171.5%, to $50.0 million for the first half of Fiscal 2005.
"Oriental's commercial loan success has been our focus on the needs of professionals and middle market businesses, providing them with high levels of service, effective banking solutions, and quality execution," said Mr. Portero, First Vice President for Commercial Lending, who is heading the new commercial loan office located at 350 Carlos Chardon Avenue, Suite 115, Hato Rey, 787-474-2099 or 787-474-2095.
Oriental commercial loans, most of which are collateralized by real estate, typically range from less than $150,000, which can be guaranteed under Small Business Administration programs, to as much as several million dollars, with the average size at $1 million to $1.5 million. Typically, funds are used for the purchase of equipment or real estate, to make acquisitions, or to expand working capital.
Mr. Vale, Senior Executive Vice President, in charge of Commercial and Retail Banking, said Oriental intends to open more commercial offices as part of its larger plan to add 10 new financial centers over the next 3-5 years, expanding its distribution network more than 40%, to 33 centers.Comment
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Ouch. Company “in transformation”.
Regards,
KarelMy Investopedia portfolio
(You need to have a (free) Investopedia or Facebook login, sorry!)Comment
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Dr. Killdare, where are you?
Karel,Originally posted by Karel
Do you mean to say that the company is "in surgery?" WOW! Down $6.30 as I write. The news that Jiesen posted didn't seem all THAT bad, did it?Comment
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Well, the “surgery”, or amputation as you like, is more because of
Declines in revenue and earnings, downgrades follow, lemmings hurtling themselves off cliffs, that kind of thing.
Regards,
KarelMy Investopedia portfolio
(You need to have a (free) Investopedia or Facebook login, sorry!)Comment
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OFG--a buy?
Karel,
Are you looking to pick up some OFG at this time?Comment
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