OFG Bancorp (NYSE:OFG) Receives Consensus Rating of “Hold” from Brokerages

Shares of OFG Bancorp (NYSE:OFG) have been assigned a consensus rating of “Hold” from the seven brokerages that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $54.00.

Several research firms recently issued reports on OFG. Zacks Research lowered OFG Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Piper Sandler set a $56.00 target price on OFG Bancorp in a research report on Wednesday, July 22nd. Wells Fargo & Company boosted their price target on shares of OFG Bancorp from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. Truist Financial increased their price target on shares of OFG Bancorp from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of OFG Bancorp in a research note on Friday, July 10th.

Insider Transactions at OFG Bancorp

In other OFG Bancorp news, CEO Jose Rafael Fernandez sold 52,352 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $52.45, for a total transaction of $2,745,862.40. Following the sale, the chief executive officer directly owned 152,657 shares in the company, valued at $8,006,859.65. This represents a 25.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.23% of the stock is currently owned by company insiders.

Institutional Trading of OFG Bancorp

A number of large investors have recently modified their holdings of OFG. Tudor Investment Corp ET AL grew its stake in OFG Bancorp by 23.7% during the 3rd quarter. Tudor Investment Corp ET AL now owns 180,897 shares of the bank’s stock worth $7,867,000 after purchasing an additional 34,653 shares in the last quarter. Dimensional Fund Advisors LP raised its position in OFG Bancorp by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,565,784 shares of the bank’s stock valued at $103,811,000 after purchasing an additional 27,774 shares in the last quarter. Intech Investment Management LLC raised its position in OFG Bancorp by 109.0% in the 4th quarter. Intech Investment Management LLC now owns 148,046 shares of the bank’s stock valued at $6,067,000 after purchasing an additional 77,223 shares in the last quarter. Jacobs Asset Management LLC raised its position in OFG Bancorp by 13.5% in the 1st quarter. Jacobs Asset Management LLC now owns 90,000 shares of the bank’s stock valued at $3,641,000 after purchasing an additional 10,670 shares in the last quarter. Finally, Vest Financial LLC boosted its stake in shares of OFG Bancorp by 16.5% in the 4th quarter. Vest Financial LLC now owns 141,076 shares of the bank’s stock valued at $5,781,000 after buying an additional 20,020 shares during the period. Hedge funds and other institutional investors own 92.73% of the company’s stock.

OFG Bancorp Stock Down 1.4%

NYSE:OFG opened at $52.28 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. The stock’s fifty day moving average is $48.42 and its two-hundred day moving average is $44.10. OFG Bancorp has a 52 week low of $35.71 and a 52 week high of $53.30. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 10.29 and a beta of 0.70.

OFG Bancorp (NYSE:OFG) last issued its quarterly earnings data on Tuesday, July 21st. The bank reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.22. OFG Bancorp had a return on equity of 15.92% and a net margin of 24.08%.The business had revenue of $190.32 million during the quarter, compared to analysts’ expectations of $182.64 million. During the same period in the previous year, the firm posted $1.15 earnings per share. Research analysts anticipate that OFG Bancorp will post 5.05 EPS for the current year.

OFG Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, September 30th. OFG Bancorp’s dividend payout ratio is presently 27.56%.

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.