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OFG Bancorp (NYSE:OFG) Shares Pass Above 200-Day Moving Average of $27.04

Defense World · Sep 20, 2022 02:31

OFG Bancorp (NYSE:OFG – Get Rating)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $27.04 and traded as high as $27.92. OFG Bancorp shares last traded at $27.59, with a volume of 292,478 shares traded.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler decreased their price target on shares of OFG Bancorp to $33.00 in a research note on Monday, July 4th.

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OFG Bancorp Stock Performance

The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 8.99 and a beta of 1.18. The stock's 50 day moving average is $27.48 and its two-hundred day moving average is $27.04. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.03.

OFG Bancorp (NYSE:OFG – Get Rating) last issued its quarterly earnings results on Thursday, July 21st. The bank reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.13. OFG Bancorp had a net margin of 25.87% and a return on equity of 14.64%. During the same quarter in the previous year, the company posted $0.78 earnings per share. Analysts anticipate that OFG Bancorp will post 3.3 earnings per share for the current fiscal year.

OFG Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Thursday, September 29th. This is a boost from OFG Bancorp's previous quarterly dividend of $0.15. OFG Bancorp's dividend payout ratio (DPR) is 19.54%.

Insider Transactions at OFG Bancorp

In other news, COO Ganesh Kumar sold 3,059 shares of the firm's stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $29.10, for a total value of $89,016.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.66% of the company's stock.

Hedge Funds Weigh In On OFG Bancorp

A number of large investors have recently made changes to their positions in the stock. Natixis Advisors L.P. increased its holdings in shares of OFG Bancorp by 1.7% in the 1st quarter. Natixis Advisors L.P. now owns 27,562 shares of the bank's stock valued at $734,000 after purchasing an additional 465 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of OFG Bancorp by 14.1% in the 2nd quarter. Mutual of America Capital Management LLC now owns 8,162 shares of the bank's stock valued at $207,000 after purchasing an additional 1,010 shares in the last quarter. ExodusPoint Capital Management LP increased its holdings in shares of OFG Bancorp by 11.7% in the 2nd quarter. ExodusPoint Capital Management LP now owns 9,872 shares of the bank's stock valued at $251,000 after purchasing an additional 1,037 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of OFG Bancorp by 15.5% in the 2nd quarter. Captrust Financial Advisors now owns 10,208 shares of the bank's stock valued at $259,000 after purchasing an additional 1,368 shares in the last quarter. Finally, Quantbot Technologies LP increased its holdings in shares of OFG Bancorp by 734.8% in the 2nd quarter. Quantbot Technologies LP now owns 1,678 shares of the bank's stock valued at $42,000 after purchasing an additional 1,477 shares in the last quarter. Hedge funds and other institutional investors own 93.47% of the company's stock.

About OFG Bancorp

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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, as well as time deposit products; commercial, consumer, auto, and mortgage lending services; financial planning and insurance services; and corporate and individual trust, and retirement services.