OFG Bancorp (OFG) To Go Ex-Dividend on March 31st

OFG Bancorp (NYSE:OFG) declared a quarterly dividend on Wednesday, January 28th. Investors of record on Tuesday, March 31st will be given a dividend of 0.35 per share by the bank on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, March 31st. This is a 16.7% increase from OFG Bancorp’s previous quarterly dividend of $0.30.

OFG Bancorp has raised its dividend by an average of 0.3%annually over the last three years and has raised its dividend every year for the last 5 years. OFG Bancorp has a payout ratio of 27.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect OFG Bancorp to earn $4.39 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 27.3%.

OFG Bancorp Stock Up 5.3%

Shares of OFG Bancorp stock opened at $39.74 on Friday. The business has a 50-day moving average price of $40.88 and a 200 day moving average price of $42.00. OFG Bancorp has a fifty-two week low of $33.15 and a fifty-two week high of $46.11. The firm has a market cap of $1.75 billion, a P/E ratio of 8.68 and a beta of 0.77. The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 0.33.

OFG Bancorp (NYSE:OFG) last issued its earnings results on Thursday, January 22nd. The bank reported $1.27 EPS for the quarter, topping the consensus estimate of $1.16 by $0.11. OFG Bancorp had a return on equity of 15.21% and a net margin of 22.72%.The company had revenue of $185.37 million during the quarter, compared to analyst estimates of $184.17 million. During the same quarter last year, the firm earned $1.09 EPS. The business’s revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts forecast that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 28th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the bank to purchase up to 12% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors 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.