Short Interest in OFG Bancorp (NYSE:OFG) Grows By 39.0%

OFG Bancorp (NYSE:OFG - Get Free Report) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 811,800 shares, a growth of 39.0% from the February 28th total of 583,900 shares. Based on an average trading volume of 437,000 shares, the short-interest ratio is presently 1.9 days. Approximately 1.8% of the company's stock are short sold.

OFG Bancorp Stock Performance

OFG stock traded down $3.39 during midday trading on Thursday, hitting $36.75. 380,546 shares of the company traded hands, compared to its average volume of 290,173. OFG Bancorp has a twelve month low of $33.19 and a twelve month high of $47.66. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 8.71 and a beta of 0.96. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. The business has a 50 day simple moving average of $41.53 and a 200-day simple moving average of $42.63.

OFG Bancorp (NYSE:OFG - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The bank reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.12. OFG Bancorp had a net margin of 22.71% and a return on equity of 15.80%. During the same period last year, the firm posted $0.98 EPS. As a group, equities research analysts predict that OFG Bancorp will post 4.18 earnings per share for the current year.

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OFG Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.30 dividend. This is an increase from OFG Bancorp's previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Monday, March 31st. OFG Bancorp's dividend payout ratio (DPR) is currently 28.44%.

Hedge Funds Weigh In On OFG Bancorp

Large investors have recently made changes to their positions in the business. Citigroup Inc. increased its position in OFG Bancorp by 7.9% in the 3rd quarter. Citigroup Inc. now owns 91,216 shares of the bank's stock worth $4,097,000 after buying an additional 6,716 shares during the period. FMR LLC grew its stake in shares of OFG Bancorp by 8.1% in the third quarter. FMR LLC now owns 205,745 shares of the bank's stock worth $9,242,000 after acquiring an additional 15,498 shares during the last quarter. Quantbot Technologies LP increased its position in OFG Bancorp by 77.0% during the third quarter. Quantbot Technologies LP now owns 14,032 shares of the bank's stock worth $630,000 after acquiring an additional 6,105 shares during the period. BNP Paribas Financial Markets raised its stake in OFG Bancorp by 109.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 35,302 shares of the bank's stock valued at $1,586,000 after purchasing an additional 18,425 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in OFG Bancorp in the 3rd quarter valued at $984,000. Institutional investors and hedge funds own 92.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on OFG. Wells Fargo & Company raised their price target on shares of OFG Bancorp from $45.00 to $48.00 and gave the company an "overweight" rating in a report on Thursday, January 23rd. Keefe, Bruyette & Woods increased their target price on shares of 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 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.