OFG Bancorp (OFG) Short Interest Update
OFG Bancorp (NYSE:OFG) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 1,728,426 shares, a decline of 58.5% from the October 15th total of 4,162,597 shares. Based on an average trading volume of 776,909 shares, the short-interest ratio is presently 2.2 days. Currently, 4.0% of the shares of the stock are sold short.
NYSE:OFG opened at $18.56 on Friday. The stock has a market cap of $924.32 million, a P/E ratio of 13.95 and a beta of 1.65. OFG Bancorp has a 52-week low of $8.40 and a 52-week high of $18.65. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.14.
OFG Bancorp (NYSE:OFG) last released its earnings results on Friday, October 19th. The bank reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. The firm had revenue of $100.90 million for the quarter, compared to analyst estimates of $94.80 million. OFG Bancorp had a return on equity of 10.28% and a net margin of 18.22%. Sell-side analysts anticipate that OFG Bancorp will post 1.5 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. acquired a new position in shares of OFG Bancorp in the 3rd quarter valued at $110,000. Tower Research Capital LLC TRC boosted its position in shares of OFG Bancorp by 1,775.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 9,941 shares of the bank’s stock valued at $160,000 after purchasing an additional 9,411 shares during the period. Sei Investments Co. boosted its position in shares of OFG Bancorp by 223.1% in the 2nd quarter. Sei Investments Co. now owns 9,958 shares of the bank’s stock valued at $140,000 after purchasing an additional 6,876 shares during the period. Piedmont Investment Advisors LLC acquired a new position in shares of OFG Bancorp in the 2nd quarter valued at $144,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of OFG Bancorp in the 3rd quarter valued at $170,000. 84.27% of the stock is currently owned by hedge funds and other institutional investors.
OFG Bancorp Company Profile
OFG Bancorp, a financial holding company, provides various banking and financial services. It operates in 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 products; and financial planning, investment brokerage, corporate and individual trust, and retirement services.
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