OFG Bancorp (OFG) Scheduled to Post Earnings on Wednesday

OFG Bancorp (NYSE:OFG) is set to release its earnings data before the market opens on Wednesday, October 16th. Analysts expect OFG Bancorp to post earnings of $1.07 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

OFG Bancorp (NYSE:OFG) last posted its quarterly earnings results on Thursday, July 18th. The bank reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.12. The business had revenue of $179.40 million during the quarter, compared to analysts’ expectations of $176.09 million. OFG Bancorp had a net margin of 22.95% and a return on equity of 16.25%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $0.93 earnings per share. On average, analysts expect OFG Bancorp to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

OFG Bancorp Price Performance

NYSE OFG opened at $44.41 on Tuesday. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 11.36 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 stock’s fifty day moving average price is $43.65 and its 200 day moving average price is $39.95. OFG Bancorp has a 1 year low of $28.32 and a 1 year high of $47.57.

OFG Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Monday, September 30th. OFG Bancorp’s dividend payout ratio is presently 25.58%.

Insiders Place Their Bets

In related news, Director Jorge Colon sold 33,081 shares of OFG Bancorp stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $45.73, for a total value of $1,512,794.13. Following the completion of the transaction, the director now owns 70,919 shares in the company, valued at $3,243,125.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on OFG shares. Wells Fargo & Company raised their target price on shares of OFG Bancorp from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Piper Sandler started coverage on OFG Bancorp in a research note on Monday, August 26th. They issued an “overweight” rating and a $49.00 target price on the stock. Finally, Hovde Group boosted their price target on OFG Bancorp from $44.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, July 22nd.

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.