OFG Bancorp (NYSE:OFG) Short Interest Update

OFG Bancorp (NYSE:OFG) saw a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 597,300 shares, an increase of 30.8% from the May 31st total of 456,800 shares. Based on an average trading volume of 200,200 shares, the short-interest ratio is presently 3.0 days. Approximately 1.3% of the shares of the stock are short sold.

Insiders Place Their Bets

In other OFG Bancorp news, insider Ganesh Kumar sold 6,695 shares of OFG Bancorp stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $37.93, for a total transaction of $253,941.35. Following the completion of the transaction, the insider now owns 76,578 shares in the company, valued at $2,904,603.54. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.16% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in OFG. Goldman Sachs Group Inc. lifted its position in shares of OFG Bancorp by 58.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 611,132 shares of the bank’s stock worth $22,905,000 after purchasing an additional 225,666 shares in the last quarter. First Trust Advisors LP lifted its position in shares of OFG Bancorp by 15.4% during the fourth quarter. First Trust Advisors LP now owns 752,740 shares of the bank’s stock worth $28,213,000 after purchasing an additional 100,661 shares in the last quarter. Knights of Columbus Asset Advisors LLC lifted its position in shares of OFG Bancorp by 94.6% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 196,042 shares of the bank’s stock worth $7,348,000 after purchasing an additional 95,282 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of OFG Bancorp by 1.1% during the first quarter. Vanguard Group Inc. now owns 5,906,903 shares of the bank’s stock worth $217,433,000 after purchasing an additional 63,883 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in OFG Bancorp by 38.2% in the fourth quarter. Panagora Asset Management Inc. now owns 194,528 shares of the bank’s stock valued at $7,291,000 after acquiring an additional 53,719 shares in the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

OFG Bancorp Trading Up 1.0 %

OFG Bancorp stock traded up $0.36 during trading on Monday, reaching $37.81. The company had a trading volume of 208,084 shares, compared to its average volume of 228,426. OFG Bancorp has a 12-month low of $25.72 and a 12-month high of $39.04. The stock’s 50 day moving average price is $36.89 and its two-hundred day moving average price is $36.43. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 9.65 and a beta of 1.00. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.85 and a current ratio of 0.86.

OFG Bancorp (NYSE:OFG) last released its quarterly earnings data on Thursday, April 18th. The bank reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.10. OFG Bancorp had a net margin of 23.00% and a return on equity of 16.10%. The company had revenue of $213.49 million during the quarter, compared to the consensus estimate of $175.20 million. During the same period in the previous year, the firm earned $0.96 earnings per share. As a group, equities analysts expect that OFG Bancorp will post 4.02 earnings per share for the current fiscal year.

OFG Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, June 28th. This represents a $1.00 annualized dividend and a yield of 2.64%. OFG Bancorp’s dividend payout ratio is currently 25.58%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company cut their price objective on shares of OFG Bancorp from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th.

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.