OFG Bancorp (NYSE:OFG) has received an average rating of “Hold” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $12.67.
Several equities analysts have recently issued reports on OFG shares. ValuEngine lowered shares of OFG Bancorp from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $14.00 target price on shares of OFG Bancorp in a report on Monday, April 23rd. Finally, Zacks Investment Research upgraded shares of OFG Bancorp from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Thursday, May 17th.
In related news, Director Jorge Colon bought 10,000 shares of the business’s stock in a transaction on Tuesday, May 29th. The stock was acquired at an average price of $13.97 per share, with a total value of $139,700.00. Following the transaction, the director now owns 20,150 shares in the company, valued at approximately $281,495.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jesus Nestor De bought 5,000 shares of the business’s stock in a transaction on Thursday, June 28th. The stock was bought at an average cost of $14.10 per share, with a total value of $70,500.00. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $211,500. The disclosure for this purchase can be found here. Insiders have purchased 15,667 shares of company stock valued at $219,972 in the last three months. 2.39% of the stock is owned by insiders.
Shares of OFG Bancorp traded down $0.10, hitting $14.70, during trading hours on Friday, MarketBeat Ratings reports. 102,693 shares of the company’s stock traded hands, compared to its average volume of 290,092. OFG Bancorp has a 12-month low of $7.80 and a 12-month high of $15.06. The firm has a market capitalization of $646.03 million, a price-to-earnings ratio of 11.07 and a beta of 1.71. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.87 and a current ratio of 0.87.
OFG Bancorp (NYSE:OFG) last released its earnings results on Friday, April 20th. The bank reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.09. OFG Bancorp had a net margin of 12.93% and a return on equity of 9.80%. The firm had revenue of $92.51 million during the quarter. sell-side analysts forecast that OFG Bancorp will post 1.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Friday, June 29th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Thursday, June 28th. OFG Bancorp’s dividend payout ratio (DPR) is currently 18.05%.
About OFG Bancorp
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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