OFG Bancorp (NYSE:OFG – Get Rating) passed 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 trading hands.
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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The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 8.96 and a beta of 1.18. The company's 50 day simple moving average is $27.52 and its 200-day simple 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 announced its quarterly earnings data on Thursday, July 21st. The bank reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.13. The business had revenue of $146.31 million for the quarter, compared to analyst estimates of $140.20 million. OFG Bancorp had a net margin of 25.87% and a return on equity of 14.64%. During the same period in the prior year, the firm posted $0.78 EPS. On average, equities research analysts predict that OFG Bancorp will post 3.3 earnings per share for the current fiscal year.OFG Bancorp Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.20 per share. This is a positive change from OFG Bancorp's previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Thursday, September 29th. OFG Bancorp's dividend payout ratio is presently 19.54%.
Insider Transactions at OFG Bancorp
In other news, COO Ganesh Kumar sold 3,059 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $29.10, for a total transaction of $89,016.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.66% of the company's stock.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. raised its holdings in OFG Bancorp by 23.1% in the first quarter. Victory Capital Management Inc. now owns 36,896 shares of the bank's stock valued at $981,000 after buying an additional 6,932 shares during the period. State of Tennessee Treasury Department raised its holdings in OFG Bancorp by 10.0% in the first quarter. State of Tennessee Treasury Department now owns 32,576 shares of the bank's stock valued at $868,000 after buying an additional 2,957 shares during the period. American Century Companies Inc. raised its holdings in OFG Bancorp by 45.3% in the first quarter. American Century Companies Inc. now owns 253,238 shares of the bank's stock valued at $6,746,000 after buying an additional 78,969 shares during the period. EAM Investors LLC purchased a new stake in shares of OFG Bancorp during the first quarter valued at approximately $912,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of OFG Bancorp during the first quarter valued at approximately $1,412,000. Hedge funds and other institutional investors own 93.47% of the company's stock.
OFG Bancorp Company Profile
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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.
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