OFG Bancorp (NYSE:OFG) hit a new 52-week low during trading on Thursday . The stock traded as low as $8.35 and last traded at $8.35, with a volume of 178,146 shares traded. The stock had previously closed at $8.65.
Several brokerages have commented on OFG. ValuEngine upgraded OFG Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Piper Jaffray Companies restated a “hold” rating and set a $12.50 price target on shares of OFG Bancorp in a research note on Friday, July 21st. Finally, BidaskClub lowered OFG Bancorp from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th.
The company has a 50 day moving average of $9.04 and a 200 day moving average of $10.00. The stock has a market capitalization of $366.96 million, a P/E ratio of 7.56 and a beta of 1.52.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.24 annualized dividend and a yield of 2.87%. OFG Bancorp’s dividend payout ratio (DPR) is currently 22.02%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its holdings in OFG Bancorp by 11.9% during the first quarter. Bank of New York Mellon Corp now owns 735,271 shares of the bank’s stock valued at $8,676,000 after buying an additional 78,295 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in OFG Bancorp by 3.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 768,932 shares of the bank’s stock valued at $9,074,000 after buying an additional 25,463 shares in the last quarter. Prudential Financial Inc. raised its holdings in OFG Bancorp by 1.8% during the first quarter. Prudential Financial Inc. now owns 297,194 shares of the bank’s stock valued at $3,507,000 after buying an additional 5,220 shares in the last quarter. Strs Ohio raised its holdings in OFG Bancorp by 12.3% during the second quarter. Strs Ohio now owns 70,300 shares of the bank’s stock valued at $703,000 after buying an additional 7,700 shares in the last quarter. Finally, AXA bought a new position in OFG Bancorp during the first quarter valued at about $227,000. Institutional investors own 96.99% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This report was published by Community Financial News and is the sole property of of Community Financial News. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright legislation. The legal version of this report can be read at https://www.com-unik.info/2017/10/12/ofg-bancorp-ofg-reaches-new-52-week-low-at-8-35.html.
OFG Bancorp Company Profile
OFG Bancorp is a financial holding company. The Company is engaged in providing banking and financial services through its subsidiaries. The Company operates through three segments: Banking, Wealth Management and Treasury. The Company provides banking and financial services to its clients through a range of banking and financial solutions, including commercial, consumer, auto, and mortgage lending; checking and savings accounts; financial planning, insurance, financial service, and investment brokerage, and corporate and individual trust and retirement services.
What are top analysts saying about OFG Bancorp? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for OFG Bancorp and related companies.