OFG Bancorp (NYSE:OFG) Stock Price Up 7.5%

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OFG Bancorp (NYSE:OFG)’s stock price rose 7.5% during mid-day trading on Monday . The company traded as high as $13.24 and last traded at $13.01, approximately 689,831 shares changed hands during trading. An increase of 59% from the average daily volume of 434,985 shares. The stock had previously closed at $12.10.

OFG has been the topic of a number of analyst reports. TheStreet lowered OFG Bancorp from a “b-” rating to a “c+” rating in a research note on Friday, March 13th. ValuEngine upgraded OFG Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, April 30th. Finally, Zacks Investment Research cut OFG Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, March 18th.

The company has a 50-day moving average of $12.31 and a 200 day moving average of $15.99. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $668.96 million, a PE ratio of 12.05 and a beta of 1.69.

OFG Bancorp (NYSE:OFG) last posted its earnings results on Wednesday, April 29th. The bank reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.01). OFG Bancorp had a return on equity of 6.55% and a net margin of 6.52%. The business had revenue of $136.55 million for the quarter, compared to analysts’ expectations of $142.00 million. As a group, equities analysts anticipate that OFG Bancorp will post 1.05 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Monday, June 29th. OFG Bancorp’s payout ratio is currently 17.28%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Marshall Wace North America L.P. purchased a new position in shares of OFG Bancorp in the 1st quarter worth about $53,000. PNC Financial Services Group Inc. boosted its holdings in shares of OFG Bancorp by 23.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,691 shares of the bank’s stock worth $86,000 after purchasing an additional 699 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of OFG Bancorp by 64.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,824 shares of the bank’s stock worth $43,000 after purchasing an additional 1,504 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of OFG Bancorp in the 4th quarter worth about $107,000. Finally, Aigen Investment Management LP boosted its holdings in shares of OFG Bancorp by 976.0% in the 1st quarter. Aigen Investment Management LP now owns 5,972 shares of the bank’s stock worth $67,000 after purchasing an additional 5,417 shares in the last quarter. Hedge funds and other institutional investors own 91.89% of the company’s stock.

OFG Bancorp Company Profile (NYSE:OFG)

OFG Bancorp, a financial holding company, provides various banking and financial services. It operates in three segments: Banking, Wealth Management, and Treasury. The company offers checking and savings accounts, as well as time deposit products; commercial, consumer, auto, and mortgage lending products; financial planning, insurance, financial services, and investment brokerage; and corporate and individual trust, and retirement services.

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