OFG Bancorp announced Thursday it has been selected to be included in the 2014 Barron’s 400 Index. The index, jointly developed by Barron’s Magazine and stock research firm MarketGrader, measures the performance of the most fundamentally sound and attractively priced stocks.
“Given that only about 6 percent of all North American publicly listed companies are selected to the Barron’s 400, it underscores the overall strength of OFG’s financial results and what we believe are our bright prospects as an investment,” said OFG President José Rafael Fernández.
The Barron’s 400 Index ETF, first introduced in the September 3, 2007 issue of Barron’s, has outperformed the broader U.S. equity market by more than four percentage points per year in the last decade, a clear measure of the quality of the companies selected, according to MarketGrader.
MarketGrader said it selects companies for the index using a proven and disciplined process, not as a benchmark representing the overall market, but rather to provide investors access to what its research indicates is a basket of America’s most promising stocks.
Now in its 50th year in business, OFG Bancorp is a diversified financial holding company that operates three principal subsidiaries — Oriental Bank, Oriental Financial Services and Oriental Insurance.