OFG Bancorp (NYSE:OFG) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of OFG Bancorp (NYSE:OFG) have earned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $47.20.

A number of equities research analysts recently issued reports on OFG shares. Truist Financial raised their price target on OFG Bancorp from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Zacks Research raised OFG Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Wells Fargo & Company lifted their target price on OFG Bancorp from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 22nd. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $48.00 target price (up from $43.00) on shares of OFG Bancorp in a research report on Wednesday, April 22nd.

OFG Bancorp Price Performance

Shares of OFG stock opened at $46.71 on Wednesday. OFG Bancorp has a 52-week low of $35.71 and a 52-week high of $47.62. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market capitalization of $1.97 billion, a P/E ratio of 9.65 and a beta of 0.70. The stock has a 50 day moving average price of $44.27 and a 200 day moving average price of $41.98.

OFG Bancorp (NYSE:OFG) last issued its quarterly earnings results on Tuesday, March 31st. The bank reported $1.26 earnings per share (EPS) for the quarter. OFG Bancorp had a return on equity of 15.62% and a net margin of 23.45%.The firm had revenue of $185.80 million during the quarter. As a group, sell-side analysts predict that OFG Bancorp will post 4.75 earnings per share for the current year.

OFG Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.40 dividend on an annualized basis and a yield of 3.0%. OFG Bancorp’s payout ratio is 28.93%.

Institutional Investors Weigh In On OFG Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of OFG. First Trust Advisors LP raised its position in OFG Bancorp by 13.8% during the 1st quarter. First Trust Advisors LP now owns 2,321,924 shares of the bank’s stock valued at $93,945,000 after purchasing an additional 281,593 shares in the last quarter. Qube Research & Technologies Ltd raised its position in OFG Bancorp by 31.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 554,208 shares of the bank’s stock valued at $23,720,000 after purchasing an additional 133,046 shares in the last quarter. American Century Companies Inc. raised its position in OFG Bancorp by 8.1% during the 3rd quarter. American Century Companies Inc. now owns 1,458,026 shares of the bank’s stock valued at $63,410,000 after purchasing an additional 108,635 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in OFG Bancorp during the 4th quarter valued at $4,224,000. Finally, Squarepoint Ops LLC raised its position in OFG Bancorp by 990.9% during the 4th quarter. Squarepoint Ops LLC now owns 101,746 shares of the bank’s stock valued at $4,170,000 after purchasing an additional 92,419 shares in the last quarter. 92.73% of the stock is owned by institutional investors.

OFG Bancorp Company Profile

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.