OFG Bancorp (OFG) Set to Announce Quarterly Earnings on Friday
OFG Bancorp (NYSE:OFG) is set to post its quarterly earnings results before the market opens on Friday, October 21st. Analysts expect OFG Bancorp to post earnings of $0.24 per share for the quarter.
OFG Bancorp (NYSE:OFG) last announced its quarterly earnings results on Friday, July 22nd. The company reported $0.25 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.25. OFG Bancorp had a return on equity of 4.40% and a net margin of 7.01%. During the same period in the previous year, the business posted ($0.15) earnings per share. On average, analysts expect OFG Bancorp to post $0.99 EPS for the current fiscal year and $1.01 EPS for the next fiscal year.
OFG Bancorp (NYSE:OFG) opened at 9.66 on Wednesday. OFG Bancorp has a 52 week low of $4.56 and a 52 week high of $11.25. The stock has a 50 day moving average price of $10.20 and a 200-day moving average price of $9.27. The company has a market capitalization of $424.20 million, a PE ratio of 23.22 and a beta of 1.32.
The business also recently declared a quarterly dividend, which was paid on Monday, October 17th. Investors of record on Friday, September 30th were issued a $0.06 dividend. The ex-dividend date was Wednesday, September 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.48%. OFG Bancorp’s dividend payout ratio (DPR) is presently 57.14%.
Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in OFG Bancorp by 15.6% in the second quarter. AQR Capital Management LLC now owns 131,687 shares of the company’s stock worth $1,093,000 after buying an additional 17,819 shares during the last quarter. Guggenheim Capital LLC increased its position in shares of OFG Bancorp by 2.5% in the second quarter. Guggenheim Capital LLC now owns 149,897 shares of the company’s stock worth $1,244,000 after buying an additional 3,621 shares in the last quarter. Stilwell Value LLC acquired a new position in shares of OFG Bancorp during the second quarter worth $6,225,000. State Street Corp increased its position in shares of OFG Bancorp by 35.6% in the second quarter. State Street Corp now owns 1,276,149 shares of the company’s stock worth $10,589,000 after buying an additional 335,206 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of OFG Bancorp by 4.9% in the second quarter. Thrivent Financial for Lutherans now owns 21,050 shares of the company’s stock worth $175,000 after buying an additional 980 shares in the last quarter. 97.82% of the stock is owned by institutional investors.
OFG has been the topic of a number of research reports. Zacks Investment Research raised shares of OFG Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Keefe, Bruyette & Woods lifted their price target on shares of OFG Bancorp from $10.00 to $11.00 and gave the stock a “market perform” rating in a report on Monday, July 25th.
About OFG Bancorp
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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