Analysts Set OFG Bancorp (OFG) PT at $12.67

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.

A number of large investors have recently bought and sold shares of the business. Principal Financial Group Inc. grew its position in OFG Bancorp by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 336,846 shares of the bank’s stock worth $3,520,000 after purchasing an additional 7,990 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its position in shares of OFG Bancorp by 36.2% during the 1st quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 53,000 shares of the bank’s stock valued at $554,000 after acquiring an additional 14,100 shares during the period. Rhumbline Advisers grew its position in shares of OFG Bancorp by 15.8% during the 4th quarter. Rhumbline Advisers now owns 103,899 shares of the bank’s stock valued at $977,000 after acquiring an additional 14,174 shares during the period. Dimensional Fund Advisors LP grew its position in shares of OFG Bancorp by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,707,934 shares of the bank’s stock valued at $38,748,000 after acquiring an additional 14,879 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in shares of OFG Bancorp during the 4th quarter valued at $144,000. 96.74% of the stock is owned by institutional investors and hedge funds.

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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