OFG Bancorp (NYSE:OFG) Receives $47.20 Average Price Target from Analysts

Shares of OFG Bancorp (NYSE:OFG) have been given a consensus rating of “Hold” by the six research firms that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $48.00.

OFG has been the subject of a number of research reports. Zacks Research lowered shares of OFG Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Wells Fargo & Company lifted their price objective on OFG Bancorp from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Truist Financial raised their target price on OFG Bancorp from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Finally, Piper Sandler reiterated a “neutral” rating and set a $48.00 price target (up from $43.00) on shares of OFG Bancorp in a report on Wednesday, April 22nd.

Hedge Funds Weigh In On OFG Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of OFG Bancorp by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,565,784 shares of the bank’s stock worth $103,811,000 after buying an additional 27,774 shares during the last quarter. First Trust Advisors LP grew its position in OFG Bancorp by 13.8% in the first quarter. First Trust Advisors LP now owns 2,321,924 shares of the bank’s stock worth $93,945,000 after acquiring an additional 281,593 shares during the period. Charles Schwab Investment Management Inc. increased its stake in OFG Bancorp by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,706,896 shares of the bank’s stock worth $69,949,000 after acquiring an additional 13,121 shares during the last quarter. Millennium Management LLC raised its position in OFG Bancorp by 7.8% in the third quarter. Millennium Management LLC now owns 796,892 shares of the bank’s stock valued at $34,657,000 after purchasing an additional 57,572 shares during the period. Finally, JPMorgan Chase & Co. raised its position in 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 purchasing an additional 28,114 shares during the period. 92.73% of the stock is currently owned by institutional investors and hedge funds.

OFG Bancorp Price Performance

Shares of NYSE OFG traded down $0.28 during midday trading on Friday, hitting $49.36. The stock had a trading volume of 344,097 shares, compared to its average volume of 445,132. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.33. The stock has a 50 day simple moving average of $46.76 and a 200-day simple moving average of $43.19. The company has a market capitalization of $2.09 billion, a PE ratio of 10.20 and a beta of 0.70. OFG Bancorp has a 1 year low of $35.71 and a 1 year high of $50.66.

OFG Bancorp (NYSE:OFG) last issued its quarterly earnings results on Tuesday, March 31st. The bank reported $1.26 EPS for the quarter. The firm had revenue of $185.80 million during the quarter. OFG Bancorp had a return on equity of 15.62% and a net margin of 23.45%. On average, sell-side analysts expect that OFG Bancorp will post 4.75 EPS for the current fiscal year.

OFG Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.8%. The ex-dividend date is Tuesday, June 30th. OFG Bancorp’s dividend payout ratio (DPR) is presently 28.93%.

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.