OFG Bancorp (OFG) Hits New 1-Year High at $11.25
Shares of OFG Bancorp (NYSE:OFG) hit a new 52-week high during trading on Friday . The stock traded as high as $11.25 and last traded at $11.15, with a volume of 199,030 shares changing hands. The stock had previously closed at $10.67.
OFG has been the subject of several analyst reports. Zacks Investment Research upgraded shares of OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Saturday. Keefe, Bruyette & Woods increased their target price on shares of OFG Bancorp from $10.00 to $11.00 and gave the company a “market perform” rating in a report on Monday, July 25th. Piper Jaffray Cos. restated a “neutral” rating and set a $9.50 price objective (up previously from $7.50) on shares of OFG Bancorp in a report on Tuesday, April 26th. Finally, Merion Capital Group raised their price objective on shares of OFG Bancorp from $6.75 to $9.75 and gave the stock an “outperform” rating in a report on Monday, April 25th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. OFG Bancorp currently has a consensus rating of “Buy” and a consensus price target of $10.85.
The firm has a market capitalization of $481.30 million and a PE ratio of 26.35. The firm has a 50-day moving average price of $9.30 and a 200 day moving average price of $7.65.
OFG Bancorp (NYSE:OFG) last announced its earnings results on Friday, July 22nd. The company reported $0.25 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.25. During the same quarter in the prior year, the firm posted ($0.15) EPS. Equities research analysts expect that OFG Bancorp will post $0.99 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend was Tuesday, June 28th.
OFG Bancorp is a financial holding company. The Company is engaged in providing banking and financial services through its subsidiaries. The Company provides banking and financial services to its clients through a range of banking and financial solutions, including commercial, consumer, auto, and mortgage lending; checking and savings accounts; financial planning, insurance, financial service, and investment brokerage, and corporate and individual trust and retirement services.
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