OFG Bancorp (NYSE:OFG) Short Interest Update

OFG Bancorp (NYSE:OFG) was the recipient of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 583,900 shares, a drop of 15.5% from the February 13th total of 690,800 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average trading volume of 350,900 shares, the short-interest ratio is currently 1.7 days.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on OFG. Keefe, Bruyette & Woods increased their price target on OFG Bancorp from $53.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Wells Fargo & Company increased their target price on OFG Bancorp from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd.

Hedge Funds Weigh In On OFG Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of OFG. GAMMA Investing LLC raised its position in shares of OFG Bancorp by 48.9% during the 4th quarter. GAMMA Investing LLC now owns 801 shares of the bank’s stock worth $34,000 after buying an additional 263 shares in the last quarter. TD Waterhouse Canada Inc. increased its stake in shares of OFG Bancorp by 1.8% during the fourth quarter. TD Waterhouse Canada Inc. now owns 21,041 shares of the bank’s stock valued at $890,000 after acquiring an additional 369 shares during the period. Prudential Financial Inc. raised its holdings in OFG Bancorp by 0.5% during the fourth quarter. Prudential Financial Inc. now owns 67,999 shares of the bank’s stock worth $2,878,000 after purchasing an additional 370 shares in the last quarter. XTX Topco Ltd lifted its position in OFG Bancorp by 5.2% in the third quarter. XTX Topco Ltd now owns 8,387 shares of the bank’s stock worth $377,000 after purchasing an additional 413 shares during the period. Finally, Bank of Montreal Can boosted its stake in OFG Bancorp by 9.0% during the 4th quarter. Bank of Montreal Can now owns 5,295 shares of the bank’s stock valued at $224,000 after purchasing an additional 438 shares in the last quarter. Institutional investors own 92.73% of the company’s stock.

OFG Bancorp Stock Performance

Shares of NYSE:OFG traded down $0.05 during trading hours on Wednesday, hitting $40.58. The stock had a trading volume of 445,372 shares, compared to its average volume of 361,873. The stock’s fifty day simple moving average is $42.19 and its 200 day simple moving average is $42.94. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 9.62 and a beta of 0.96. 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 has a 1-year low of $33.19 and a 1-year high of $47.66.

OFG Bancorp (NYSE:OFG) 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 period in the previous year, the company posted $0.98 EPS. Sell-side analysts anticipate that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.30 per share. This is a boost from OFG Bancorp’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Monday, March 31st. OFG Bancorp’s payout ratio is currently 28.44%.

About OFG Bancorp

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.