OFG Bancorp (NYSE:OFG) announced a quarterly dividend on Wednesday, May 23rd, RTT News reports. Stockholders of record on Friday, June 29th will be paid a dividend of 0.06 per share by the bank on Monday, July 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Thursday, June 28th.
OFG Bancorp has decreased its dividend by an average of 9.1% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. OFG Bancorp has a payout ratio of 21.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect OFG Bancorp to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 18.6%.
NYSE:OFG opened at $14.05 on Friday. The stock has a market capitalization of $621.86 million, a P/E ratio of 10.40 and a beta of 1.68. OFG Bancorp has a 1-year low of $7.80 and a 1-year high of $14.95. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.10.
OFG Bancorp (NYSE:OFG) last released its quarterly earnings results on Friday, April 20th. The bank reported $0.29 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 business had revenue of $92.51 million during the quarter. analysts predict that OFG Bancorp will post 1.12 earnings per share for the current fiscal year.
In other news, Director Jesus Nestor De acquired 5,000 shares of OFG Bancorp stock in a transaction on Thursday, June 28th. The stock was bought at an average price of $14.10 per share, for a total transaction of $70,500.00. Following the completion of the purchase, the director now owns 15,000 shares in the company, valued at $211,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jorge Colon acquired 10,000 shares of OFG Bancorp stock in a transaction on Tuesday, May 29th. The stock was purchased at an average price of $13.97 per share, with a total value of $139,700.00. Following the purchase, the director now owns 20,150 shares of the company’s stock, valued at approximately $281,495.50. The disclosure for this purchase can be found here. Insiders bought a total of 15,667 shares of company stock valued at $219,972 in the last quarter. Company insiders own 2.39% of the company’s stock.
Several equities analysts recently weighed in on OFG shares. ValuEngine downgraded 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 research report on Monday, April 23rd. Finally, Zacks Investment Research upgraded OFG Bancorp from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Thursday, May 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $13.50.
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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