OFG Bancorp (NYSE:OFG - Get Free Report)'s share price passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $51.49 and traded as high as $51.73. OFG Bancorp shares last traded at $51.6830, with a volume of 142,673 shares trading hands.
Wall Street Analysts Forecast Growth
A number of research firms have commented on OFG. Zacks Research downgraded OFG Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday, September 21st. Wells Fargo & Company lowered their price target on OFG Bancorp from $55.00 to $53.00 and set an "equal weight" rating for the company in a report on Monday, November 9th. Piper Sandler set a $56.00 price target on OFG Bancorp in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods upped their price target on OFG Bancorp from $52.00 to $57.00 and gave the company a "market perform" rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings cut OFG Bancorp from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday, November 4th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $56.00.
Read Our Latest Stock Report on OFG
OFG Bancorp Trading Up 0.7%
The business's 50 day moving average price is $51.49 and its two-hundred day moving average price is $47.28. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 9.84 and a beta of 0.74. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.87.
OFG Bancorp (NYSE:OFG - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The bank reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $0.10. OFG Bancorp had a net margin of 24.64% and a return on equity of 16.38%. The business had revenue of $185.75 million for the quarter, compared to analyst estimates of $187.11 million. Equities analysts forecast that OFG Bancorp will post 5.32 earnings per share for the current fiscal year.
OFG Bancorp Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be given a dividend of $0.40 per share. This is a boost from OFG Bancorp's previous quarterly dividend of $0.35. The ex-dividend date is Thursday, December 31st. This represents a $1.60 annualized dividend and a dividend yield of 3.1%. OFG Bancorp's payout ratio is 26.67%.
Institutional Trading of OFG Bancorp
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in OFG Bancorp in the second quarter worth about $302,289,000. Dimensional Fund Advisors LP grew its stake in shares of OFG Bancorp by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,565,784 shares of the bank's stock worth $103,811,000 after purchasing an additional 27,774 shares during the last quarter. First Trust Advisors LP grew its stake in shares of OFG Bancorp by 3.0% in the 3rd quarter. First Trust Advisors LP now owns 2,429,666 shares of the bank's stock worth $121,678,000 after purchasing an additional 69,850 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of OFG Bancorp in the 2nd quarter worth approximately $24,993,000. Finally, Jupiter Topco LLC bought a new stake in shares of OFG Bancorp in the 2nd quarter worth approximately $21,094,000. Institutional investors and hedge funds own 92.73% of the company's stock.
About OFG Bancorp
(
Get Free Report)
OFG Bancorp is a financial holding company headquartered in San Juan, Puerto Rico. Through its principal subsidiary, Oriental Bank, it provides banking services to individuals, businesses and government entities, including deposit accounts, consumer and commercial loans, mortgage lending, auto financing and cash management. The company also offers investment and wealth-management services through Oriental Financial Services, as well as insurance products. Its operations primarily serve customers in Puerto Rico and the U.S. Virgin Islands.
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