Short Interest Update on OFG Bancorp (OFG)

OFG Bancorp (OFG) : The traders have covered their outstanding shorts in OFG Bancorp (OFG) to the tune of -864,600 shares, a change of -15.7%. As on Jul 29, 2016, the outstanding shorts on the stock were 5,501,381 shares, however, by August 15, 2016, the shorts had reduced to 4,636,781 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 10.7% of the free float of the stock. It takes 14 days to cover the outstanding short positions. The stock has an average daily volume of 329,167 shares. The short interest information was released on Wednesday Aug 24th after the market close.

OFG Bancorp (NYSE:OFG): The stock opened at $10.96 on Wednesday but the bulls could not build on the opening and the stock topped out at $11.04 for the day. The stock traded down to $10.81 during the day, due to lack of any buying support eventually closed down at $10.92 with a loss of -0.27% for the day. The stock had closed at $10.95 on the previous day. The total traded volume was 238,586 shares.


In a related news, The Securities and Exchange Commission has divulged that Kumar Ganesh, officer (CFO & EVP) of Ofg Bancorp, had unloaded 1,000 shares at an average price of $18.75 in a transaction dated on May 11, 2016. The total value of the transaction was worth $18,750.

OFG Bancorp is a financial holding company. The Company is engaged in providing banking and financial services through its subsidiaries. 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. The Company operates through three segments: Banking, Wealth Management and Treasury. The Company provides these services through various subsidiaries, including a commercial bank, Oriental Bank, a securities broker-dealer, Oriental Financial Services Corp. (Oriental Financial Services), an insurance agency, Oriental Insurance, Inc. (Oriental Insurance) and a retirement plan administrator, Caribbean Pension Consultants, Inc. (CPC). The Company has 53 branches in Puerto Rico.

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