OFG Bancorp (NYSE:OFG) Short Interest Update

OFG Bancorp (NYSE:OFG - Get Free Report) was the target of a large decrease in short interest in February. As of February 28th, there was short interest totalling 583,900 shares, a decrease of 15.5% from the February 13th total of 690,800 shares. Currently, 1.3% of the company's stock are sold short. Based on an average daily volume of 350,900 shares, the days-to-cover ratio is currently 1.7 days.

Analyst Ratings Changes

OFG has been the subject of a number of research reports. Wells Fargo & Company lifted their price target on OFG Bancorp from $45.00 to $48.00 and gave the stock an "overweight" rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods lifted their target price on OFG Bancorp from $53.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd.

OFG Bancorp Stock Performance

Shares of NYSE OFG traded up $0.03 during midday trading on Friday, hitting $40.25. The company's stock had a trading volume of 4,139,827 shares, compared to its average volume of 433,440. The firm has a market cap of $1.83 billion, a P/E ratio of 9.54 and a beta of 0.96. OFG Bancorp has a 1-year low of $33.19 and a 1-year high of $47.66. The firm's fifty day moving average price is $42.12 and its 200-day moving average price is $42.90. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.85.

OFG Bancorp (NYSE:OFG - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The bank reported $1.09 EPS for the quarter, beating the consensus estimate of $0.97 by $0.12. OFG Bancorp had a return on equity of 15.80% and a net margin of 22.71%. During the same quarter last year, the firm earned $0.98 earnings per share. On average, sell-side analysts forecast that OFG Bancorp will post 4.18 EPS for the current fiscal year.

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OFG Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.98%. This is a boost from OFG Bancorp's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 31st. OFG Bancorp's dividend payout ratio (DPR) is presently 28.44%.

Hedge Funds Weigh In On OFG Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in OFG Bancorp in the 4th quarter valued at about $7,289,000. Foundry Partners LLC acquired a new stake in shares of OFG Bancorp in the third quarter valued at approximately $6,038,000. Bridgeway Capital Management LLC bought a new stake in shares of OFG Bancorp during the fourth quarter valued at approximately $5,205,000. Empowered Funds LLC acquired a new position in shares of OFG Bancorp during the fourth quarter worth approximately $4,570,000. Finally, Tudor Investment Corp ET AL grew its holdings in OFG Bancorp by 139.1% in the 4th quarter. Tudor Investment Corp ET AL now owns 176,517 shares of the bank's stock worth $7,470,000 after buying an additional 102,680 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company's stock.

OFG Bancorp Company Profile

OFG Bancorp, a financial holding company, provides a range of banking and financial services. It operates through three segments: Banking, Wealth Management, and Treasury. The company offers checking and savings accounts, and individual retirement accounts; certificate of deposits, as well as time deposit products; commercial, consumer, auto leasing, and mortgage lending services; credit cards; cash management; financial planning and insurance services; and corporate and individual trust, and retirement services.