OFG Bancorp (NYSE:OFG) Short Interest Up 36.0% in April

OFG Bancorp (NYSE:OFG) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 380,200 shares, an increase of 36.0% from the March 31st total of 279,500 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average daily trading volume, of 243,900 shares, the days-to-cover ratio is currently 1.6 days.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company reduced 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 note on Wednesday, April 10th.

OFG Bancorp Trading Down 0.1 %

Shares of OFG stock opened at $36.28 on Tuesday. The business’s 50 day moving average is $35.77 and its two-hundred day moving average is $35.00. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. OFG Bancorp has a 12 month low of $22.34 and a 12 month high of $39.04. The company has a market cap of $1.71 billion, a PE ratio of 9.28 and a beta of 1.09.

OFG Bancorp (NYSE:OFG) last released its quarterly 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. 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 analysts’ expectations of $175.20 million. During the same period in the prior year, the company earned $0.96 earnings per share. Equities analysts predict that OFG Bancorp will post 4.02 EPS for the current year.

OFG Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.76%. This is a positive change from OFG Bancorp’s previous quarterly dividend of $0.22. OFG Bancorp’s dividend payout ratio is currently 25.58%.

Insiders Place Their Bets

In other OFG Bancorp news, insider Ganesh Kumar sold 9,071 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $35.18, for a total transaction of $319,117.78. Following the sale, the insider now directly owns 144,502 shares of the company’s stock, valued at approximately $5,083,580.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 34,536 shares of company stock worth $1,238,317 over the last ninety days. 2.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On OFG Bancorp

A number of institutional investors have recently added to or reduced their stakes in the company. BluePath Capital Management LLC bought a new stake in OFG Bancorp in the 3rd quarter valued at $32,000. Quantbot Technologies LP acquired a new position in OFG Bancorp in the third quarter worth about $72,000. Vest Financial LLC bought a new position in OFG Bancorp during the fourth quarter worth about $241,000. MQS Management LLC bought a new position in OFG Bancorp during the third quarter worth about $268,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of OFG Bancorp by 23.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,959 shares of the bank’s stock valued at $357,000 after purchasing an additional 2,273 shares during the period. 92.73% of the stock is owned by institutional investors and hedge funds.

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.