OFG Bancorp (OFG) To Go Ex-Dividend on June 28th

OFG Bancorp (NYSE:OFG) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.25 per share by the bank on Monday, July 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, June 28th.

OFG Bancorp has raised its dividend by an average of 46.5% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. OFG Bancorp has a payout ratio of 25.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect OFG Bancorp to earn $3.95 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 25.3%.

OFG Bancorp Trading Down 1.0 %

Shares of OFG traded down $0.37 during midday trading on Friday, hitting $37.77. 21,177 shares of the stock were exchanged, compared to its average volume of 233,591. OFG Bancorp has a 52-week low of $23.11 and a 52-week high of $39.04. The stock has a fifty day simple moving average of $36.04 and a 200 day simple moving average of $35.34. The firm has a market cap of $1.78 billion, a P/E ratio of 9.75 and a beta of 1.08. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.83 and a current ratio of 0.87.

OFG Bancorp (NYSE:OFG) last released its earnings results on Thursday, April 18th. The bank reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.10. The firm had revenue of $213.49 million during the quarter, compared to analyst estimates of $175.20 million. OFG Bancorp had a return on equity of 16.10% and a net margin of 23.00%. During the same period last year, the business posted $0.96 earnings per share. On average, research analysts anticipate that OFG Bancorp will post 4.02 EPS for the current fiscal year.

Insider Transactions at OFG Bancorp

In other OFG Bancorp news, insider Ganesh Kumar sold 9,697 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $36.40, for a total value of $352,970.80. Following the completion of the transaction, the insider now directly owns 134,805 shares in the company, valued at approximately $4,906,902. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 61,305 shares of company stock valued at $2,255,071 in the last quarter. 2.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company lowered their price objective on OFG Bancorp from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th.

OFG Bancorp Company Profile

OFG Bancorp, a financial holding company, provides a range of banking and financial services. It operates through three segments: Banking, Wealth Management, and Treasury. The company offers checking and savings accounts, and individual retirement accounts; certificate of deposits, as well as time deposit products; commercial, consumer, auto leasing, and mortgage lending services; credit cards; cash management; financial planning and insurance services; and corporate and individual trust, and retirement services.