OFG Bancorp (NYSE:OFG) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• OFG Bancorp has received an average recommendation of "Moderate Buy" from five brokerages, with one hold and four buy ratings, and an average twelve-month target price of $47.50.
• Recent trading saw OFG shares close at $42.71 with a market capitalization of $1.90 billion and a debt-to-equity ratio of 0.34.
• The company will pay a quarterly dividend of $0.30 on October 15, reflecting an annualized yield of 2.8%.

Shares of OFG Bancorp (NYSE:OFG - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the five ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $47.50.

OFG has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on shares of OFG Bancorp from $42.00 to $48.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Weiss Ratings reiterated a "buy (b)" rating on shares of OFG Bancorp in a research report on Saturday, September 27th. Keefe, Bruyette & Woods boosted their price objective on OFG Bancorp from $48.00 to $50.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Finally, Wall Street Zen upgraded OFG Bancorp from a "sell" rating to a "hold" rating in a report on Sunday, July 20th.

Institutional Trading of OFG Bancorp

Several hedge funds have recently modified their holdings of OFG. EverSource Wealth Advisors LLC lifted its holdings in OFG Bancorp by 250.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,533 shares of the bank's stock worth $66,000 after buying an additional 1,095 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of OFG Bancorp during the second quarter valued at $97,000. Quarry LP boosted its holdings in OFG Bancorp by 458.9% in the first quarter. Quarry LP now owns 2,666 shares of the bank's stock valued at $107,000 after acquiring an additional 2,189 shares during the last quarter. Quantbot Technologies LP acquired a new stake in OFG Bancorp in the second quarter worth about $162,000. Finally, Smith Shellnut Wilson LLC ADV bought a new stake in OFG Bancorp during the 2nd quarter worth about $209,000. 92.73% of the stock is owned by institutional investors.

OFG Bancorp Price Performance

Shares of NYSE:OFG traded up $0.22 on Friday, hitting $42.71. The stock had a trading volume of 174,750 shares, compared to its average volume of 312,147. The firm's 50 day moving average price is $43.63 and its 200-day moving average price is $41.80. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.87 and a current ratio of 0.87. OFG Bancorp has a twelve month low of $33.15 and a twelve month high of $47.66. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 10.07 and a beta of 0.80.

OFG Bancorp (NYSE:OFG - Get Free Report) last announced its earnings results on Thursday, July 17th. The bank reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.10. The business had revenue of $182.20 million during the quarter, compared to analysts' expectations of $181.50 million. OFG Bancorp had a net margin of 22.06% and a return on equity of 14.97%. The firm's revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the company posted $1.08 EPS. On average, equities research analysts predict that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.8%. The ex-dividend date is Tuesday, September 30th. OFG Bancorp's dividend payout ratio (DPR) is presently 28.30%.

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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