OFG Bancorp (OFG) Trading 2.8% Higher
OFG Bancorp (NYSE:OFG)’s share price traded up 2.8% during trading on Thursday . The stock traded as high as $9.44 and last traded at $9.34, with a volume of 339,993 shares trading hands. The stock had previously closed at $9.09.
Several equities analysts recently commented on the company. Zacks Investment Research raised OFG Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Piper Jaffray Cos. reissued a “neutral” rating and issued a $9.50 target price (up previously from $7.50) on shares of OFG Bancorp in a report on Tuesday, April 26th. Finally, 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 report on Monday, April 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $10.81.
The company has a market capitalization of $408.39 million and a P/E ratio of 516.67. The stock’s 50-day moving average is $8.59 and its 200-day moving average is $7.26.
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, hitting the Thomson Reuters’ consensus estimate of $0.24. During the same quarter in the previous year, the company posted $0.21 EPS. Analysts forecast that OFG Bancorp will post $1.00 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Tuesday, June 28th.
An institutional investor recently raised its position in OFG Bancorp stock. Sei Investments Co. boosted its stake in OFG Bancorp (NYSE:OFG) by 40,870.5% during the fourth quarter, according to its most recent 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 about 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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