OFG Bancorp (NYSE:OFG) Short Interest Update

OFG Bancorp (NYSE:OFG) saw a significant growth in short interest in June. As of June 15th, there was short interest totalling 597,300 shares, a growth of 30.8% from the May 31st total of 456,800 shares. Currently, 1.3% of the company’s stock are sold short. Based on an average trading volume of 200,200 shares, the short-interest ratio is presently 3.0 days.

Analysts Set New Price Targets

Separately, Wells Fargo & Company reduced their target price 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 Transactions at OFG Bancorp

In other news, insider Ganesh Kumar sold 6,695 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $37.93, for a total transaction of $253,941.35. Following the completion of the sale, the insider now owns 76,578 shares of the company’s stock, valued at $2,904,603.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.16% of the stock is owned by insiders.

Institutional Trading of OFG Bancorp

A number of large investors have recently added to or reduced their stakes in OFG. FMR LLC lifted its stake in shares of OFG Bancorp by 20.7% during the 3rd quarter. FMR LLC now owns 188,557 shares of the bank’s stock worth $5,630,000 after buying an additional 32,400 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of OFG Bancorp by 47.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 79,795 shares of the bank’s stock worth $2,383,000 after buying an additional 25,539 shares during the last quarter. Kennedy Capital Management LLC lifted its stake in shares of OFG Bancorp by 28.1% during the 3rd quarter. Kennedy Capital Management LLC now owns 178,319 shares of the bank’s stock worth $5,325,000 after buying an additional 39,094 shares during the last quarter. Diversified Trust Co acquired a new stake in shares of OFG Bancorp during the 3rd quarter worth about $374,000. Finally, Deutsche Bank AG lifted its stake in shares of OFG Bancorp by 0.8% during the 3rd quarter. Deutsche Bank AG now owns 364,442 shares of the bank’s stock worth $10,882,000 after buying an additional 2,849 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

OFG Bancorp Stock Up 1.0 %

OFG traded up $0.36 during trading hours on Monday, hitting $37.81. 208,084 shares of the company’s stock were exchanged, compared to its average volume of 228,426. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 9.65 and a beta of 1.00. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. The stock’s 50-day moving average is $36.89 and its two-hundred day moving average is $36.43. OFG Bancorp has a 1-year low of $25.72 and a 1-year high of $39.04.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings results on Thursday, April 18th. The bank reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.10. The firm had revenue of $213.49 million during the quarter, compared to analysts’ expectations of $175.20 million. OFG Bancorp had a net margin of 23.00% and a return on equity of 16.10%. During the same quarter last year, the company posted $0.96 earnings per share. Sell-side analysts predict that OFG Bancorp will post 4.02 earnings per share for the current fiscal year.

OFG Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Friday, June 28th. OFG Bancorp’s dividend payout ratio is currently 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.