OFG Bancorp (OFG) Posts Earnings Results, Beats Expectations By $0.05 EPS

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OFG Bancorp (NYSE:OFG) announced its earnings results on Friday. The bank reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.05, MarketWatch Earnings reports. The company had revenue of $100.90 million during the quarter, compared to analyst estimates of $94.80 million. OFG Bancorp had a return on equity of 10.07% and a net margin of 13.67%.

Shares of NYSE:OFG traded up $1.93 during trading on Friday, hitting $17.13. 1,316,441 shares of the company’s stock traded hands, compared to its average volume of 435,074. OFG Bancorp has a 52 week low of $7.80 and a 52 week high of $17.75. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $668.54 million, a PE ratio of 12.88 and a beta of 1.84.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Thursday, September 27th. OFG Bancorp’s dividend payout ratio (DPR) is presently 18.05%.

OFG has been the subject of a number of research reports. TheStreet upgraded OFG Bancorp from a “c+” rating to a “b” rating in a research report on Monday, July 23rd. Sandler O’Neill reiterated a “buy” rating and issued a $18.00 price objective on shares of OFG Bancorp in a research report on Friday, July 20th. Zacks Investment Research lowered OFG Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 22nd. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of OFG Bancorp in a report on Monday, July 23rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $17.50.

OFG Bancorp Company Profile

OFG Bancorp, a financial holding company, provides various banking and financial services. It operates in three segments: Banking, Wealth Management, and Treasury. The company offers checking and savings accounts, as well as time deposit products; commercial, consumer, auto, and mortgage lending products; and financial planning, investment brokerage, corporate and individual trust, and retirement services.

See Also: Average Daily Trade Volume – ADTV

Earnings History for OFG Bancorp (NYSE:OFG)

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