OFG Bancorp (OFG) Sees Unusually-High Trading Volume
Shares of OFG Bancorp (NYSE:OFG) saw unusually-strong trading volume on Wednesday . Approximately 534,186 shares changed hands during mid-day trading, an increase of 25% from the previous session’s volume of 426,666 shares.The stock last traded at $10.84 and had previously closed at $10.54.
Several research analysts have commented on OFG shares. Zacks Investment Research raised shares of OFG Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Piper Jaffray Cos. started coverage on shares of OFG Bancorp in a report on Friday, April 8th. They issued a “neutral” rating and a $7.50 price target for the company. Keefe, Bruyette & Woods raised their price target on shares of OFG Bancorp from $10.00 to $11.00 and gave the company a “market perform” rating in a report on Monday. Finally, Merion Capital Group raised their price target on shares of 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 assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $10.56.
The company has a market cap of $472.06 million and a PE ratio of 597.22. The firm’s 50 day moving average is $8.86 and its 200-day moving average is $7.45.
OFG Bancorp (NYSE:OFG) last released its quarterly earnings data on Friday, July 22nd. The company reported $0.25 earnings per share for the quarter, meeting the consensus estimate of $0.25. During the same quarter in the previous year, the firm earned ($0.15) EPS. On average, equities analysts expect that OFG Bancorp will post $0.99 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, June 28th. This represents a $0.24 annualized dividend and a dividend yield of 2.23%.
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 Form 13F filing with the SEC. 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 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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