OFG Bancorp (OFG) Trading 7.5% Higher
OFG Bancorp (NYSE:OFG)’s share price traded up 7.5% during trading on Friday . The company traded as high as $10.29 and last traded at $10.26, with a volume of 337,217 shares traded. The stock had previously closed at $9.54.
A number of equities analysts recently commented on the company. Zacks Investment Research upgraded OFG Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Piper Jaffray Cos. assumed coverage on OFG Bancorp in a research report on Friday, April 8th. They set a “neutral” rating and a $7.50 price objective on the stock. Finally, Merion Capital Group lifted their target price on 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 assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $10.81.
The firm has a market cap of $450.55 million and a P/E ratio of 570.00. The company’s 50 day moving average price is $8.69 and its 200-day moving average price is $7.34.
OFG Bancorp (NYSE:OFG) last released its quarterly earnings results on Friday, July 22nd. The company reported $0.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.25. During the same period last year, the firm posted ($0.15) earnings per share. Analysts expect that OFG Bancorp will post $1.00 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis 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 position in OFG Bancorp (NYSE:OFG) by 40,870.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 354,395 shares of the company’s stock after buying an additional 353,530 shares during the period. Sei Investments Co. owned approximately 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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