Shares of OFG Bancorp (NYSE:OFG – Get Free Report) have received a consensus recommendation of “Hold” from the six research firms that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $47.20.
A number of brokerages recently commented on OFG. Truist Financial lifted their price target on OFG Bancorp from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Piper Sandler restated a “neutral” rating and issued a $48.00 price objective (up from $43.00) on shares of OFG Bancorp in a research note on Wednesday, April 22nd. Zacks Research lowered OFG Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Finally, Wells Fargo & Company lifted their target price on OFG Bancorp from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 22nd.
Check Out Our Latest Stock Report on OFG Bancorp
OFG Bancorp Stock Up 0.0%
OFG Bancorp (NYSE:OFG – Get Free Report) last posted its earnings results on Tuesday, March 31st. The bank reported $1.26 earnings per share (EPS) for the quarter. OFG Bancorp had a net margin of 23.45% and a return on equity of 15.62%. The firm had revenue of $185.80 million during the quarter. On average, sell-side analysts forecast that OFG Bancorp will post 4.75 earnings per share for the current fiscal year.
OFG Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Tuesday, June 30th. OFG Bancorp’s dividend payout ratio (DPR) is 28.93%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL lifted its stake in OFG Bancorp by 23.7% in the third quarter. Tudor Investment Corp ET AL now owns 180,897 shares of the bank’s stock valued at $7,867,000 after purchasing an additional 34,653 shares during the last quarter. Gator Capital Management LLC increased its position in OFG Bancorp by 15.2% in the third quarter. Gator Capital Management LLC now owns 233,170 shares of the bank’s stock worth $10,141,000 after buying an additional 30,740 shares during the last quarter. Algert Global LLC raised its stake in shares of OFG Bancorp by 31.0% in the third quarter. Algert Global LLC now owns 300,292 shares of the bank’s stock valued at $13,060,000 after buying an additional 71,112 shares during the period. Quantbot Technologies LP raised its stake in shares of OFG Bancorp by 358.4% in the third quarter. Quantbot Technologies LP now owns 17,332 shares of the bank’s stock valued at $754,000 after buying an additional 13,551 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of OFG Bancorp by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 608,572 shares of the bank’s stock valued at $26,467,000 after buying an additional 28,114 shares during the period. 92.73% of the stock is currently owned by hedge funds and other institutional investors.
About OFG Bancorp
OFG Bancorp, through its principal subsidiary Oriental Bank, is a financial holding company headquartered in San Juan, Puerto Rico. The company provides a wide range of banking services, including commercial and consumer deposit accounts, small business loans, corporate lending, treasury management, and cash management solutions. Its consumer offerings encompass personal checking and savings accounts, credit cards, and electronic banking platforms designed to serve retail customers across its markets.
In addition to traditional banking products, OFG Bancorp offers mortgage origination and servicing, as well as wealth management and trust services for high‐net‐worth individuals and institutional clients.
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