OFG Bancorp (NYSE:OFG – Get Free Report) announced its earnings results on Wednesday. The bank reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.02), Briefing.com reports. OFG Bancorp had a net margin of 22.95% and a return on equity of 16.25%. The company had revenue of $174.10 million during the quarter, compared to the consensus estimate of $178.25 million. During the same quarter in the prior year, the company earned $0.95 EPS. The business’s quarterly revenue was up 1.1% on a year-over-year basis.
OFG Bancorp Price Performance
Shares of NYSE:OFG traded down $0.37 on Friday, reaching $41.20. 68,657 shares of the company traded hands, compared to its average volume of 229,361. OFG Bancorp has a fifty-two week low of $28.32 and a fifty-two week high of $47.57. The stock has a market capitalization of $1.94 billion, a PE ratio of 10.60 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.86. The company’s 50 day moving average is $43.71 and its 200-day moving average is $40.03.
OFG Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 2.43%. OFG Bancorp’s dividend payout ratio is currently 25.58%.
Insider Activity
Analyst Ratings Changes
Several research analysts have recently issued reports on OFG shares. Piper Sandler decreased their price objective on shares of OFG Bancorp from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday. Hovde Group lifted their price target on OFG Bancorp from $44.00 to $51.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Finally, Wells Fargo & Company upped their price objective on OFG Bancorp from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, July 22nd.
Read Our Latest Analysis on OFG Bancorp
About OFG Bancorp
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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