OFG Bancorp (NYSE:OFG) Short Interest Down 15.5% in February

OFG Bancorp (NYSE:OFG) was the target of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 583,900 shares, a drop of 15.5% from the February 13th total of 690,800 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average daily trading volume, of 350,900 shares, the short-interest ratio is currently 1.7 days.

OFG Bancorp Price Performance

NYSE:OFG opened at $40.88 on Tuesday. OFG Bancorp has a 52 week low of $33.19 and a 52 week high of $47.66. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $1.86 billion, a PE ratio of 9.69 and a beta of 0.96. The stock’s 50-day moving average price is $42.21 and its 200-day moving average price is $42.97.

OFG Bancorp (NYSE:OFG) last posted its earnings results on Wednesday, January 22nd. The bank reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.12. OFG Bancorp had a return on equity of 15.80% and a net margin of 22.71%. During the same quarter in the previous year, the firm posted $0.98 EPS. As a group, equities analysts expect that OFG Bancorp will post 4.18 EPS for the current fiscal year.

OFG Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.94%. This is a boost from OFG Bancorp’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. OFG Bancorp’s payout ratio is presently 28.44%.

Wall Street Analysts Forecast Growth

OFG has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lifted their price objective on OFG Bancorp from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Wells Fargo & Company raised their target price on OFG Bancorp from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd.

Institutional Investors Weigh In On OFG Bancorp

Several institutional investors have recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in OFG Bancorp in the 4th quarter worth about $7,289,000. Jefferies Financial Group Inc. acquired a new stake in OFG Bancorp in the 4th quarter worth about $409,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in OFG Bancorp by 21.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 122,125 shares of the bank’s stock worth $5,168,000 after buying an additional 21,821 shares during the last quarter. Voloridge Investment Management LLC boosted its holdings in OFG Bancorp by 138.8% in the 4th quarter. Voloridge Investment Management LLC now owns 149,709 shares of the bank’s stock worth $6,336,000 after buying an additional 87,024 shares during the last quarter. Finally, Two Sigma Investments LP boosted its holdings in OFG Bancorp by 2.9% in the 4th quarter. Two Sigma Investments LP now owns 137,350 shares of the bank’s stock worth $5,813,000 after buying an additional 3,868 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

About OFG Bancorp

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.