OFG Bancorp (OFG) Trading 7.5% Higher
OFG Bancorp (NYSE:OFG)’s share price traded up 7.5% during trading on Friday . The stock traded as high as $10.29 and last traded at $10.26, with a volume of 337,217 shares trading hands. The stock had previously closed at $9.54.
Several equities analysts have commented on the stock. Piper Jaffray Cos. reiterated a “neutral” rating and issued a $9.50 price objective (up from $7.50) on shares of OFG Bancorp in a report on Tuesday, April 26th. Zacks Investment Research cut shares of OFG Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, July 9th. Finally, Merion Capital Group boosted their target price on shares of OFG Bancorp from $6.75 to $9.75 and gave the company an “outperform” rating in a research report on Monday, April 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $10.81.
The firm has a market capitalization of $450.99 million and a P/E ratio of 570.56. The stock’s 50 day moving average price is $8.73 and its 200 day moving average price is $7.36.
OFG Bancorp (NYSE:OFG) last issued its earnings results on Friday, July 22nd. The company reported $0.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.25. During the same period in the prior year, the firm earned ($0.15) earnings per share. Equities analysts forecast that OFG Bancorp will post $1.00 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Tuesday, June 28th.
An institutional investor recently raised its position in OFG Bancorp stock. Sei Investments Co. increased its stake in shares of OFG Bancorp (NYSE:OFG) by 40,870.5% during the fourth quarter, according to its most recent filing with the SEC. The fund 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 as of its most recent filing with the SEC.
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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