Wall Street brokerages predict that OFG Bancorp (NYSE:OFG) will post earnings of $0.20 per share for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for OFG Bancorp’s earnings. OFG Bancorp reported earnings of $0.26 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 23.1%. The business is scheduled to report its next earnings results before the market opens on Friday, April 20th.
According to Zacks, analysts expect that OFG Bancorp will report full year earnings of $0.95 per share for the current financial year. For the next financial year, analysts anticipate that the company will post earnings of $1.24 per share. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that that provide coverage for OFG Bancorp.
OFG Bancorp (NYSE:OFG) last posted its quarterly earnings results on Tuesday, January 30th. The bank reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.21. The firm had revenue of $90.33 million for the quarter, compared to analyst estimates of $86.90 million. OFG Bancorp had a net margin of 12.41% and a return on equity of 9.61%. During the same period in the previous year, the business posted $0.27 earnings per share.
A number of research firms recently weighed in on OFG. ValuEngine upgraded shares of OFG Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday. Piper Jaffray reiterated a “hold” rating and issued a $12.00 target price on shares of OFG Bancorp in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $12.00.
OFG opened at $12.05 on Thursday. The stock has a market cap of $531.76, a P/E ratio of 9.06 and a beta of 1.75. OFG Bancorp has a twelve month low of $7.80 and a twelve month high of $12.25. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.24 annualized dividend and a yield of 1.99%. OFG Bancorp’s payout ratio is 18.05%.
Large investors have recently bought and sold shares of the business. Teacher Retirement System of Texas acquired a new position in OFG Bancorp in the 4th quarter valued at about $144,000. Citadel Advisors LLC boosted its holdings in OFG Bancorp by 201.5% in the 4th quarter. Citadel Advisors LLC now owns 16,744 shares of the bank’s stock valued at $157,000 after purchasing an additional 33,244 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in OFG Bancorp in the 4th quarter valued at about $187,000. Sterling Capital Management LLC acquired a new position in OFG Bancorp in the 3rd quarter valued at about $220,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in OFG Bancorp by 86.2% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 25,411 shares of the bank’s stock valued at $233,000 after purchasing an additional 11,762 shares during the last quarter. Institutional investors own 97.05% of the company’s stock.
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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.
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