OFG Bancorp (NYSE:OFG) Short Interest Down 15.5% in February

OFG Bancorp (NYSE:OFG) was the target of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 583,900 shares, a decline of 15.5% from the February 13th total of 690,800 shares. Approximately 1.3% of the shares of the stock are short sold. Based on an average daily volume of 350,900 shares, the short-interest ratio is presently 1.7 days.

Analyst Upgrades and Downgrades

OFG has been the topic of several recent research reports. Wells Fargo & Company boosted their target price on OFG Bancorp from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Keefe, Bruyette & Woods boosted their target price on OFG Bancorp from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd.

OFG Bancorp Stock Performance

Shares of OFG stock opened at $40.88 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The firm has a fifty day moving average price of $42.21 and a 200 day moving average price of $42.97. The company has a market cap of $1.86 billion, a P/E ratio of 9.69 and a beta of 0.96. OFG Bancorp has a 12 month low of $33.19 and a 12 month high of $47.66.

OFG Bancorp (NYSE:OFG) last released its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the prior year, the firm earned $0.98 earnings per share. Sell-side analysts predict that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued 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 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Monday, March 31st. OFG Bancorp’s dividend payout ratio is currently 28.44%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings in OFG Bancorp by 48.9% in the fourth quarter. GAMMA Investing LLC now owns 801 shares of the bank’s stock valued at $34,000 after buying an additional 263 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in OFG Bancorp by 196.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the bank’s stock valued at $44,000 after buying an additional 680 shares in the last quarter. R Squared Ltd purchased a new position in OFG Bancorp in the fourth quarter valued at about $44,000. Meeder Asset Management Inc. purchased a new position in OFG Bancorp in the fourth quarter valued at about $44,000. Finally, Blue Trust Inc. increased its holdings in OFG Bancorp by 84.8% in the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the bank’s stock valued at $93,000 after buying an additional 946 shares in the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

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.