OFG Bancorp (NYSE:OFG) Short Interest Update

OFG Bancorp (NYSE:OFG) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 380,200 shares, a growth of 36.0% from the March 31st total of 279,500 shares. Based on an average daily volume of 243,900 shares, the days-to-cover ratio is presently 1.6 days. Currently, 0.8% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company reduced their price target on shares of OFG Bancorp from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th.

Insider Activity

In other OFG Bancorp news, insider Ganesh Kumar sold 9,697 shares of OFG Bancorp stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $36.40, for a total value of $352,970.80. Following the completion of the sale, the insider now directly owns 134,805 shares in the company, valued at $4,906,902. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 34,536 shares of company stock valued at $1,238,317 in the last ninety days. 2.16% of the stock is owned by company insiders.

Institutional Investors Weigh In On OFG Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BluePath Capital Management LLC bought a new position in OFG Bancorp in the 3rd quarter valued at about $32,000. Quantbot Technologies LP bought a new position in shares of OFG Bancorp in the third quarter valued at approximately $72,000. Vest Financial LLC bought a new position in shares of OFG Bancorp in the fourth quarter valued at approximately $241,000. MQS Management LLC purchased a new position in shares of OFG Bancorp during the third quarter valued at approximately $268,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in OFG Bancorp by 23.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,959 shares of the bank’s stock worth $357,000 after buying an additional 2,273 shares in the last quarter. 92.73% of the stock is owned by institutional investors.

OFG Bancorp Stock Down 0.1 %

OFG stock opened at $36.28 on Tuesday. The stock’s 50 day simple moving average is $35.77 and its 200 day simple moving average is $35.00. The company has a market cap of $1.71 billion, a P/E ratio of 9.28 and a beta of 1.09. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.83 and a current ratio of 0.87. OFG Bancorp has a fifty-two week low of $22.34 and a fifty-two week high of $39.04.

OFG Bancorp (NYSE:OFG) last issued its earnings results on Thursday, April 18th. The bank reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.10. OFG Bancorp had a return on equity of 16.10% and a net margin of 23.00%. The company had revenue of $213.49 million for the quarter, compared to analyst estimates of $175.20 million. During the same period in the prior year, the firm earned $0.96 earnings per share. On average, research analysts expect that OFG Bancorp will post 4.02 earnings per share for the current fiscal year.

OFG Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.76%. This is a positive change from OFG Bancorp’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, March 27th. OFG Bancorp’s dividend payout ratio (DPR) is 25.58%.

OFG Bancorp Company Profile

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.