OFG Bancorp (NYSE:OFG – Get Free Report)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $39.19 and last traded at $39.14, with a volume of 37266 shares. The stock had previously closed at $37.93.
Wall Street Analyst Weigh In
Separately, Wells Fargo & Company decreased their target price on OFG Bancorp from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th.
OFG Bancorp Price Performance
OFG Bancorp (NYSE:OFG – Get Free Report) last released its earnings results on Thursday, April 18th. The bank reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.10. OFG Bancorp had a return on equity of 16.10% and a net margin of 23.00%. The firm had revenue of $213.49 million during the quarter, compared to the consensus estimate of $175.20 million. During the same quarter in the previous year, the company posted $0.96 earnings per share. On average, analysts expect that OFG Bancorp will post 4.02 EPS for the current fiscal year.
OFG Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Friday, June 28th. OFG Bancorp’s payout ratio is presently 25.58%.
Insider Buying and Selling at OFG Bancorp
In other OFG Bancorp news, insider Ganesh Kumar sold 20,074 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $38.00, for a total value of $762,812.00. Following the completion of the transaction, the insider now directly owns 91,335 shares of the company’s stock, valued at $3,470,730. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.16% of the stock is currently owned by corporate insiders.
Institutional Trading of OFG Bancorp
A number of institutional investors and hedge funds have recently made changes to their positions in OFG. CWM LLC increased its position in shares of OFG Bancorp by 147.1% during the second quarter. CWM LLC now owns 1,868 shares of the bank’s stock worth $70,000 after purchasing an additional 1,112 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of OFG Bancorp during the first quarter worth approximately $121,000. Lazard Asset Management LLC increased its position in shares of OFG Bancorp by 206.6% during the first quarter. Lazard Asset Management LLC now owns 4,161 shares of the bank’s stock worth $153,000 after purchasing an additional 2,804 shares in the last quarter. Vest Financial LLC purchased a new stake in shares of OFG Bancorp during the fourth quarter worth approximately $241,000. Finally, O Shaughnessy Asset Management LLC increased its position in shares of OFG Bancorp by 23.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 9,181 shares of the bank’s stock worth $338,000 after purchasing an additional 1,765 shares in the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.
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.
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