OFG Bancorp (NYSE:OFG) shares reached a new 52-week low on Thursday . The stock traded as low as $8.45 and last traded at $8.48, with a volume of 128,560 shares traded. The stock had previously closed at $8.70.

Several research firms have weighed in on OFG. ValuEngine cut OFG Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Piper Jaffray Companies reissued a “hold” rating and issued a $12.50 price objective on shares of OFG Bancorp in a research report on Friday, July 21st. Finally, BidaskClub cut OFG Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th.

The firm has a 50-day moving average of $9.45 and a 200-day moving average of $10.55. The firm has a market cap of $369.15 million, a price-to-earnings ratio of 7.61 and a beta of 1.50.

OFG Bancorp (NYSE:OFG) last posted its earnings results on Friday, July 21st. The bank reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.04. The business had revenue of $100.45 million during the quarter, compared to analyst estimates of $90.95 million. OFG Bancorp had a return on equity of 8.36% and a net margin of 14.58%. During the same quarter last year, the company earned $0.25 EPS. Equities analysts expect that OFG Bancorp will post $1.12 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Thursday, September 28th. OFG Bancorp’s payout ratio is 22.02%.

Institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its holdings in shares of OFG Bancorp by 11.9% in the 1st quarter. Bank of New York Mellon Corp now owns 735,271 shares of the bank’s stock worth $8,676,000 after purchasing an additional 78,295 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of OFG Bancorp by 3.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 768,932 shares of the bank’s stock worth $9,074,000 after purchasing an additional 25,463 shares in the last quarter. LSV Asset Management increased its holdings in shares of OFG Bancorp by 12.4% in the 1st quarter. LSV Asset Management now owns 1,321,306 shares of the bank’s stock worth $15,591,000 after purchasing an additional 145,360 shares in the last quarter. Prudential Financial Inc. increased its holdings in shares of OFG Bancorp by 1.8% in the 1st quarter. Prudential Financial Inc. now owns 297,194 shares of the bank’s stock worth $3,507,000 after purchasing an additional 5,220 shares in the last quarter. Finally, AXA bought a new stake in shares of OFG Bancorp in the 1st quarter worth $227,000. 99.44% of the stock is owned by institutional investors and hedge funds.

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About OFG Bancorp

OFG Bancorp is a financial holding company. The Company is engaged in providing banking and financial services through its subsidiaries. The Company operates through three segments: Banking, Wealth Management and Treasury. 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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