OFG Bancorp (NYSE:OFG) shares gapped up before the market opened on Monday . The stock had previously closed at $11.00, but opened at $11.01. OFG Bancorp shares last traded at $11.15, with a volume of 143,717 shares traded.

Several research analysts have recently issued reports on the company. Zacks Investment Research raised OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Saturday, August 6th. Keefe, Bruyette & Woods boosted their target price on shares of OFG Bancorp from $10.00 to $11.00 and gave the company a “market perform” rating in a research note on Monday, July 25th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $10.85.

The company’s 50-day moving average price is $10.40 and its 200-day moving average price is $8.34. The company has a market capitalization of $487.00 million and a P/E ratio of 26.66.

OFG Bancorp (NYSE:OFG) last issued its quarterly earnings results on Friday, July 22nd. The company reported $0.25 EPS for the quarter, meeting analysts’ consensus estimates of $0.25. During the same period last year, the business earned ($0.15) EPS. On average, analysts forecast that OFG Bancorp will post $0.99 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be paid a dividend of $0.06 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.24 annualized dividend and a yield of 2.16%.

A hedge fund recently raised its stake in OFG Bancorp stock. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of OFG Bancorp (NYSE:OFG) by 50.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 155,375 shares of the company’s stock after buying an additional 51,775 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.35% of OFG Bancorp worth $1,137,000 as of its most recent SEC filing.

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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