OFG Bancorp's Non-Cumulative Monthly Income Preferred Stock, Series A Shares Cross 7% Yield Mark

In trading on Tuesday, shares of OFG Bancorp's 7.125% Non-cumulative Monthly Income Preferred Stock, Series A (NYSE: OFG.PRA) were yielding above the 7% mark based on its monthly dividend (annualized to $1.7812), with shares changing hands as low as $25.17 on the day. This compares to an average yield of 5.35% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, OFG.PRA was trading at a 2.40% premium to its liquidation preference amount, versus the...