Traders Purchase High Volume of Call Options on OFG Bancorp (OFG)
OFG Bancorp (NYSE:OFG) saw unusually large options trading activity on Tuesday. Stock investors bought 780 call options on the company. This is an increase of approximately 954% compared to the average daily volume of 74 call options.
Shares of OFG Bancorp (NYSE OFG) opened at $9.80 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. OFG Bancorp has a 1 year low of $7.80 and a 1 year high of $14.48. The firm has a market capitalization of $446.07, a price-to-earnings ratio of 8.25 and a beta of 1.62.
OFG Bancorp (NYSE:OFG) last released its earnings results on Wednesday, October 25th. The bank reported $0.40 EPS for the quarter, topping the consensus estimate of $0.28 by $0.12. The business had revenue of $98.39 million during the quarter, compared to analysts’ expectations of $90.60 million. OFG Bancorp had a return on equity of 9.05% and a net margin of 11.92%. During the same quarter last year, the firm posted $0.14 earnings per share. analysts predict that OFG Bancorp will post 1.12 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Thursday, December 28th. OFG Bancorp’s dividend payout ratio (DPR) is presently 28.92%.
In related news, Director Jesus Nestor De acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were purchased at an average cost of $7.95 per share, with a total value of $39,750.00. Following the completion of the acquisition, the director now directly owns 5,400 shares of the company’s stock, valued at $42,930. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.56% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Everence Capital Management Inc. bought a new position in OFG Bancorp during the 3rd quarter valued at approximately $103,000. Virtu KCG Holdings LLC purchased a new stake in shares of OFG Bancorp in the 2nd quarter valued at approximately $117,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of OFG Bancorp in the second quarter valued at approximately $127,000. BNP Paribas Arbitrage SA grew its position in OFG Bancorp by 53.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,649 shares of the bank’s stock valued at $136,000 after buying an additional 4,775 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its stake in OFG Bancorp by 7.2% during the second quarter. Neuberger Berman Group LLC now owns 14,436 shares of the bank’s stock valued at $144,000 after buying an additional 966 shares in the last quarter. Institutional investors and hedge funds own 96.63% of the company’s stock.
Several research analysts have issued reports on OFG shares. Keefe, Bruyette & Woods raised shares of OFG Bancorp from a “market perform” rating to an “outperform” rating in a research report on Tuesday. Sandler O’Neill upgraded shares of OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Monday, October 30th. Piper Jaffray Companies reissued a “hold” rating and set a $11.00 target price on shares of OFG Bancorp in a research report on Friday, October 27th. Finally, ValuEngine upgraded shares of OFG Bancorp from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. OFG Bancorp presently has an average rating of “Hold” and an average target price of $12.33.
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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