Shares of OFG Bancorp (NYSE:OFG – Get Free Report) have been given an average rating of “Moderate Buy” by the six analysts that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $47.20.
A number of equities research analysts have issued reports on OFG shares. Truist Financial increased their target price on shares of OFG Bancorp from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Wells Fargo & Company increased their target price on shares of OFG Bancorp from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 22nd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $43.00 price target (down from $50.00) on shares of OFG Bancorp in a research note on Friday, January 23rd. Piper Sandler reissued a “neutral” rating and issued a $48.00 price target (up from $43.00) on shares of OFG Bancorp in a research note on Wednesday, April 22nd. Finally, Zacks Research raised OFG Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th.
View Our Latest Analysis on OFG
Insider Activity at OFG Bancorp
Institutional Investors Weigh In On OFG Bancorp
Several large investors have recently made changes to their positions in the company. Quarry LP acquired a new stake in OFG Bancorp in the 3rd quarter worth approximately $35,000. Wealth Enhancement Advisory Services LLC acquired a new stake in OFG Bancorp in the 3rd quarter worth approximately $53,000. EverSource Wealth Advisors LLC lifted its holdings in OFG Bancorp by 250.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,533 shares of the bank’s stock worth $66,000 after purchasing an additional 1,095 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in OFG Bancorp in the 2nd quarter worth approximately $97,000. Finally, Royal Bank of Canada lifted its holdings in OFG Bancorp by 80.2% in the 1st quarter. Royal Bank of Canada now owns 3,901 shares of the bank’s stock worth $158,000 after purchasing an additional 1,736 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.
OFG Bancorp Trading Up 1.7%
NYSE:OFG opened at $44.70 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.87 and a quick ratio of 0.86. OFG Bancorp has a fifty-two week low of $35.71 and a fifty-two week high of $46.85. The stock’s 50-day moving average is $42.30 and its two-hundred day moving average is $41.33. The stock has a market cap of $1.89 billion, a PE ratio of 9.24 and a beta of 0.72.
OFG Bancorp (NYSE:OFG – Get Free Report) last posted its quarterly 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 business had revenue of $185.80 million during the quarter. As a group, equities research analysts forecast that OFG Bancorp will post 4.75 earnings per share for the current fiscal year.
OFG Bancorp Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 3.1%. OFG Bancorp’s payout ratio is presently 28.93%.
OFG Bancorp announced that its Board of Directors has approved a stock buyback plan on Wednesday, January 28th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the bank to buy up to 12% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
OFG Bancorp Company Profile
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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