OFG Bancorp (NYSE:OFG – Get Free Report) posted its quarterly earnings data on Wednesday. The bank reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.12, Briefing.com reports. OFG Bancorp had a return on equity of 15.69% and a net margin of 22.68%. During the same period in the prior year, the business earned $0.98 earnings per share.
OFG Bancorp Trading Up 1.2 %
NYSE:OFG opened at $44.77 on Wednesday. OFG Bancorp has a 12 month low of $33.19 and a 12 month high of $47.66. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 10.89 and a beta of 1.02. The firm has a fifty day simple moving average of $43.59 and a two-hundred day simple moving average of $43.21.
OFG Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Tuesday, December 31st. OFG Bancorp’s dividend payout ratio (DPR) is 24.33%.
Insider Activity
OFG Bancorp declared that its Board of Directors has initiated a stock buyback program on Monday, October 28th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the bank to purchase up to 2.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
Analysts Set New Price Targets
A number of equities analysts recently commented on OFG shares. Wells Fargo & Company cut their price objective on OFG Bancorp from $49.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Keefe, Bruyette & Woods upped their price objective on shares of OFG Bancorp from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler lowered their target price on shares of OFG Bancorp from $49.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th.
Check Out Our Latest Report on OFG
OFG Bancorp Company Profile
OFG Bancorp, a financial holding company, provides a range of banking and financial services. It operates through three segments: Banking, Wealth Management, and Treasury. The company offers checking and savings accounts, and individual retirement accounts; certificate of deposits, as well as time deposit products; commercial, consumer, auto leasing, and mortgage lending services; credit cards; cash management; financial planning and insurance services; and corporate and individual trust, and retirement services.
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