Piper Jaffray Companies reiterated their hold rating on shares of OFG Bancorp (NYSE:OFG) in a research report released on Friday, October 27th. Piper Jaffray Companies currently has a $11.00 target price on the bank’s stock.
Several other equities analysts also recently weighed in on the company. ValuEngine raised OFG Bancorp from a hold rating to a buy rating in a research report on Monday, October 2nd. BidaskClub downgraded OFG Bancorp from a sell rating to a strong sell rating in a research report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $12.33.
OFG Bancorp (OFG) traded down $0.10 during midday trading on Friday, reaching $8.30. The company had a trading volume of 247,400 shares, compared to its average volume of 243,832. OFG Bancorp has a 12-month low of $7.80 and a 12-month high of $14.48. The stock has a market cap of $364.76, a P/E ratio of 6.83 and a beta of 1.62. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.18.
OFG Bancorp (NYSE:OFG) last released its quarterly earnings data on Wednesday, October 25th. The bank reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.12. The firm had revenue of $98.39 million during the quarter, compared to the consensus estimate of $90.60 million. OFG Bancorp had a return on equity of 9.05% and a net margin of 11.92%. During the same period last year, the business posted $0.14 EPS. equities research analysts anticipate that OFG Bancorp will post 1.12 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Thursday, September 28th. OFG Bancorp’s payout ratio is 30.00%.
In other OFG Bancorp news, Director Jesus Nestor De acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were acquired at an average price of $7.95 per share, for a total transaction of $39,750.00. Following the completion of the acquisition, the director now directly owns 5,400 shares of the company’s stock, valued at $42,930. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.56% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of OFG. Wells Fargo & Company MN boosted its holdings in shares of OFG Bancorp by 2.3% during the first quarter. Wells Fargo & Company MN now owns 61,798 shares of the bank’s stock worth $730,000 after purchasing an additional 1,408 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of OFG Bancorp by 11.9% during the first quarter. Bank of New York Mellon Corp now owns 735,271 shares of the bank’s stock valued at $8,676,000 after buying an additional 78,295 shares during the last quarter. Karp Capital Management Corp acquired a new position in shares of OFG Bancorp during the first quarter valued at about $294,000. Mason Street Advisors LLC raised its position in OFG Bancorp by 7.0% in the first quarter. Mason Street Advisors LLC now owns 10,269 shares of the bank’s stock worth $121,000 after purchasing an additional 673 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in OFG Bancorp by 8.2% in the first quarter. Envestnet Asset Management Inc. now owns 18,736 shares of the bank’s stock worth $221,000 after purchasing an additional 1,423 shares in the last quarter. Institutional investors and hedge funds own 96.93% of the company’s stock.
About OFG Bancorp
OFG Bancorp is a financial holding company. The Company is engaged in providing banking and financial services through its subsidiaries. The Company operates through three segments: Banking, Wealth Management and Treasury. The Company provides banking and financial services to its clients through a range of banking and financial solutions, including commercial, consumer, auto, and mortgage lending; checking and savings accounts; financial planning, insurance, financial service, and investment brokerage, and corporate and individual trust and retirement services.
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