OFG Bancorp (NYSE:OFG) Stock Price Crosses Above Two Hundred Day Moving Average of $36.35

OFG Bancorp (NYSE:OFGGet Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $36.35 and traded as high as $36.85. OFG Bancorp shares last traded at $36.46, with a volume of 232,513 shares trading hands.

Wall Street Analyst Weigh In

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

Read Our Latest Research Report on OFG

OFG Bancorp Trading Up 1.0 %

The company has a market cap of $1.73 billion, a P/E ratio of 9.35 and a beta of 1.07. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average price is $36.49 and its 200-day moving average price is $36.36.

OFG Bancorp (NYSE:OFGGet Free Report) last issued its earnings results on Thursday, April 18th. The bank reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.10. The business had revenue of $213.49 million for the quarter, compared to analysts’ expectations of $175.20 million. OFG Bancorp had a net margin of 23.00% and a return on equity of 16.10%. During the same quarter in the previous year, the firm posted $0.96 EPS. As a group, equities research analysts expect that OFG Bancorp will post 4.02 earnings per share for the current fiscal year.

OFG Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.25 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.00 annualized dividend and a yield of 2.72%. OFG Bancorp’s dividend payout ratio is currently 25.58%.

Insider Buying and Selling at OFG Bancorp

In related news, insider Ganesh Kumar sold 20,074 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $38.00, for a total transaction of $762,812.00. Following the sale, the insider now owns 91,335 shares of the company’s stock, valued at approximately $3,470,730. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 42,537 shares of company stock valued at $1,582,982 in the last quarter. 3.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OFG Bancorp

Several large investors have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC increased its holdings in shares of OFG Bancorp by 1.1% in the 4th quarter. SummerHaven Investment Management LLC now owns 26,059 shares of the bank’s stock worth $977,000 after buying an additional 295 shares during the last quarter. SG Americas Securities LLC raised its position in OFG Bancorp by 1.5% during the fourth quarter. SG Americas Securities LLC now owns 22,002 shares of the bank’s stock valued at $825,000 after purchasing an additional 329 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in OFG Bancorp by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 41,191 shares of the bank’s stock worth $1,516,000 after purchasing an additional 540 shares during the last quarter. Natixis Advisors L.P. boosted its holdings in shares of OFG Bancorp by 1.9% in the 4th quarter. Natixis Advisors L.P. now owns 29,743 shares of the bank’s stock worth $1,114,000 after purchasing an additional 546 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of OFG Bancorp by 0.6% during the 3rd quarter. Swiss National Bank now owns 104,400 shares of the bank’s stock valued at $3,117,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

About OFG Bancorp

(Get Free Report)

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.

Further Reading

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