OFG Bancorp (NYSE:OFG) fell 6.5% on Monday . The stock traded as low as $8.50 and last traded at $8.60. 549,509 shares were traded during trading, an increase of 41% from the average session volume of 388,762 shares. The stock had previously closed at $9.20.

Several research firms recently weighed in on OFG. ValuEngine raised OFG Bancorp from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Keefe, Bruyette & Woods raised OFG Bancorp from a “market perform” rating to an “outperform” rating in a report on Tuesday, November 28th. Piper Jaffray Companies reissued a “hold” rating and set a $11.50 price objective on shares of OFG Bancorp in a report on Friday, October 6th. Finally, Sandler O’Neill raised OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $12.33.

The company has a market cap of $382.34, a price-to-earnings ratio of 10.88 and a beta of 1.66. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.18.

OFG Bancorp (NYSE:OFG) last announced its earnings results on Wednesday, October 25th. The bank reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.12. The firm had revenue of $98.39 million for the quarter, compared to the consensus estimate of $90.60 million. OFG Bancorp had a return on equity of 9.05% and a net margin of 11.92%. During the same period in the previous year, the business earned $0.14 EPS. equities analysts forecast that OFG Bancorp will post 1.12 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.76%. The ex-dividend date is Thursday, December 28th. OFG Bancorp’s payout ratio is presently 30.00%.

In related news, Director Jesus Nestor De bought 5,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were purchased at an average cost of $7.95 per share, with a total value of $39,750.00. Following the acquisition, the director now owns 5,400 shares of the company’s stock, valued at $42,930. The purchase was disclosed in a filing with the SEC, which is available through this link. 2.56% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in OFG. Stilwell Value LLC lifted its holdings in OFG Bancorp by 961.5% during the 2nd quarter. Stilwell Value LLC now owns 13,289,640 shares of the bank’s stock worth $13,290,000 after buying an additional 12,037,639 shares during the period. Vanguard Group Inc. lifted its holdings in OFG Bancorp by 5.7% during the 2nd quarter. Vanguard Group Inc. now owns 5,058,799 shares of the bank’s stock worth $50,588,000 after buying an additional 271,986 shares during the period. Schneider Capital Management Corp lifted its holdings in OFG Bancorp by 63.9% during the 2nd quarter. Schneider Capital Management Corp now owns 453,706 shares of the bank’s stock worth $4,537,000 after buying an additional 176,958 shares during the period. Citigroup Inc. lifted its holdings in OFG Bancorp by 233.9% during the 2nd quarter. Citigroup Inc. now owns 180,200 shares of the bank’s stock worth $1,802,000 after buying an additional 126,226 shares during the period. Finally, Macquarie Group Ltd. acquired a new position in OFG Bancorp during the 3rd quarter worth about $626,000. 96.49% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “OFG Bancorp (OFG) Trading Down 6.5%” was published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this report on another site, it was illegally copied and republished in violation of US and international trademark and copyright laws. The original version of this report can be accessed at https://theolympiareport.com/2018/01/10/ofg-bancorp-ofg-trading-down-6-5.html.

About OFG Bancorp

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.

Receive News & Ratings for OFG Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OFG Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.