OFG Bancorp (NYSE:OFG) Short Interest Update

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

Institutional Trading of OFG Bancorp

Hedge funds have recently made changes to their positions in the stock. State Street Corp increased its stake in OFG Bancorp by 0.9% in the 3rd quarter. State Street Corp now owns 2,177,560 shares of the bank’s stock valued at $98,354,000 after buying an additional 19,372 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of OFG Bancorp by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,652,224 shares of the bank’s stock valued at $69,922,000 after acquiring an additional 14,618 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of OFG Bancorp by 0.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,187,781 shares of the bank’s stock worth $50,267,000 after acquiring an additional 9,658 shares during the last quarter. American Century Companies Inc. increased its position in OFG Bancorp by 8.3% in the 4th quarter. American Century Companies Inc. now owns 1,167,849 shares of the bank’s stock worth $49,423,000 after purchasing an additional 89,450 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in OFG Bancorp by 0.4% in the third quarter. Geode Capital Management LLC now owns 1,080,937 shares of the bank’s stock worth $48,565,000 after buying an additional 4,398 shares during the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

OFG Bancorp Trading Down 0.1 %

Shares of NYSE:OFG traded down $0.05 during midday trading on Wednesday, reaching $40.58. The company had a trading volume of 445,372 shares, compared to its average volume of 361,873. The company has a fifty day simple moving average of $42.19 and a two-hundred day simple moving average of $42.94. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.85. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 9.62 and a beta of 0.96. OFG Bancorp has a 1-year low of $33.19 and a 1-year high of $47.66.

OFG Bancorp (NYSE:OFG) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.12. OFG Bancorp had a net margin of 22.71% and a return on equity of 15.80%. During the same quarter last year, the company earned $0.98 EPS. Research analysts predict that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from OFG Bancorp’s previous quarterly dividend of $0.25. OFG Bancorp’s payout ratio is 28.44%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of OFG Bancorp from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods lifted their price target on shares of OFG Bancorp from $53.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd.

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.