OFG Bancorp (NYSE:OFG) Share Price Passes Above 200-Day Moving Average of $36.35

OFG Bancorp (NYSE:OFG)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $36.35 and traded as high as $36.85. OFG Bancorp shares last traded at $36.46, with a volume of 232,513 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company lowered 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 Stock Down 0.2 %

The business has a fifty day moving average of $36.45 and a 200 day moving average of $36.35. The company has a market capitalization of $1.71 billion, a PE ratio of 9.32 and a beta of 1.08. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.17.

OFG Bancorp (NYSE:OFG) last announced its earnings results on Thursday, April 18th. The bank reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.10. The company had revenue of $213.49 million during the quarter, compared to analysts’ expectations of $175.20 million. OFG Bancorp had a return on equity of 16.10% and a net margin of 23.00%. During the same period last year, the business posted $0.96 EPS. Equities research analysts anticipate that OFG Bancorp will post 4.02 EPS for the current year.

OFG Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, June 28th. OFG Bancorp’s payout ratio is presently 25.58%.

Insider Activity

In other news, insider Ganesh Kumar sold 15,768 shares of OFG Bancorp stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $35.91, for a total value of $566,228.88. Following the completion of the transaction, the insider now owns 119,037 shares in the company, valued at approximately $4,274,618.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 52,234 shares of company stock worth $1,935,953. 2.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On OFG Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of OFG Bancorp by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 5,906,903 shares of the bank’s stock worth $217,433,000 after acquiring an additional 63,883 shares in the last quarter. First Trust Advisors LP raised its position in shares of OFG Bancorp by 15.4% during the 4th quarter. First Trust Advisors LP now owns 752,740 shares of the bank’s stock worth $28,213,000 after acquiring an additional 100,661 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of OFG Bancorp by 58.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 611,132 shares of the bank’s stock worth $22,905,000 after acquiring an additional 225,666 shares in the last quarter. American Century Companies Inc. raised its position in shares of OFG Bancorp by 9.9% during the 3rd quarter. American Century Companies Inc. now owns 568,693 shares of the bank’s stock worth $16,981,000 after acquiring an additional 51,391 shares in the last quarter. Finally, Deutsche Bank AG raised its position in shares of OFG Bancorp by 0.8% during the 3rd quarter. Deutsche Bank AG now owns 364,442 shares of the bank’s stock worth $10,882,000 after acquiring an additional 2,849 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

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.