OFG Bancorp (OFG) Trading Up 2.8%
Shares of OFG Bancorp (NYSE:OFG) were up 2.8% during mid-day trading on Thursday . The stock traded as high as $9.44 and last traded at $9.34, with a volume of 339,993 shares. The stock had previously closed at $9.09.
Several brokerages recently weighed in on OFG. Zacks Investment Research downgraded OFG Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, July 9th. Merion Capital Group increased their target price on OFG Bancorp from $6.75 to $9.75 and gave the company an “outperform” rating in a research note on Monday, April 25th. Finally, Piper Jaffray Cos. began coverage on OFG Bancorp in a research note on Friday, April 8th. They set a “neutral” rating and a $7.50 target price for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $10.81.
The company’s 50-day moving average is $8.62 and its 200-day moving average is $7.28. The stock has a market capitalization of $418.49 million and a PE ratio of 529.44.
OFG Bancorp (NYSE:OFG) last released its quarterly earnings results on Friday, April 22nd. The company reported $0.24 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.24. During the same period last year, the company posted $0.21 earnings per share. Equities analysts expect that OFG Bancorp will post $1.00 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Tuesday, June 28th.
A hedge fund recently raised its stake in OFG Bancorp stock. Sei Investments Co. boosted its stake in shares of OFG Bancorp (NYSE:OFG) by 40,870.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 354,395 shares of the company’s stock after buying an additional 353,530 shares during the period. Sei Investments Co. owned 0.81% of OFG Bancorp worth $2,595,000 at the end of the most recent quarter.
OFG Bancorp is a financial holding company. The Company is engaged in providing banking and financial services through its subsidiaries. The Company provides banking and financial services to its clients through a range of banking and financial solutions, including commercial, consumer, auto, and mortgage lending; checking and savings accounts; financial planning, insurance, financial service, and investment brokerage, and corporate and individual trust and retirement services.
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