OFG Bancorp (NYSE:OFG) Given Consensus Recommendation of “Hold” by Analysts

OFG Bancorp (NYSE:OFG) has been assigned a consensus rating of “Hold” from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $45.8333.

A number of equities research analysts have recently commented on OFG shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $43.00 target price (down from $50.00) on shares of OFG Bancorp in a research note on Friday, January 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of OFG Bancorp in a research report on Monday, December 29th. Piper Sandler started coverage on shares of OFG Bancorp in a research report on Thursday, January 15th. They set a “neutral” rating and a $45.00 target price for the company. Wells Fargo & Company cut their target price on shares of OFG Bancorp from $48.00 to $43.00 and set an “equal weight” rating for the company in a research report on Monday, October 27th. Finally, Truist Financial lowered their price target on shares of OFG Bancorp from $48.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, January 26th.

Insider Activity

In other news, insider Cesar A. Ortiz sold 5,500 shares of the stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $42.17, for a total transaction of $231,935.00. Following the transaction, the insider directly owned 351 shares in the company, valued at approximately $14,801.67. This represents a 94.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jesus Nestor De sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $42.31, for a total value of $84,620.00. Following the completion of the sale, the director directly owned 22,690 shares of the company’s stock, valued at approximately $960,013.90. This represents a 8.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.11% of the company’s stock.

Institutional Investors Weigh In On OFG Bancorp

A number of large investors have recently added to or reduced their stakes in the company. Swiss National Bank boosted its holdings in shares of OFG Bancorp by 1.2% during the fourth quarter. Swiss National Bank now owns 87,800 shares of the bank’s stock worth $3,598,000 after purchasing an additional 1,000 shares during the period. CSM Advisors LLC increased its stake in shares of OFG Bancorp by 5.3% during the fourth quarter. CSM Advisors LLC now owns 222,700 shares of the bank’s stock valued at $9,127,000 after buying an additional 11,111 shares during the period. Inceptionr LLC bought a new position in shares of OFG Bancorp during the fourth quarter valued at approximately $234,000. Deutsche Bank AG boosted its holdings in OFG Bancorp by 0.5% in the fourth quarter. Deutsche Bank AG now owns 378,136 shares of the bank’s stock valued at $15,496,000 after acquiring an additional 1,832 shares in the last quarter. Finally, CenterBook Partners LP increased its position in OFG Bancorp by 83.2% during the 4th quarter. CenterBook Partners LP now owns 111,190 shares of the bank’s stock valued at $4,557,000 after purchasing an additional 50,508 shares during the period. Institutional investors own 92.73% of the company’s stock.

OFG Bancorp Trading Up 0.5%

NYSE:OFG opened at $42.05 on Thursday. OFG Bancorp has a 52 week low of $33.15 and a 52 week high of $46.11. The firm has a 50-day moving average price of $41.11 and a two-hundred day moving average price of $41.79. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.85 and a current ratio of 0.87. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 9.18 and a beta of 0.75.

OFG Bancorp (NYSE:OFG) last announced its earnings results on Thursday, January 22nd. The bank reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.11. The firm had revenue of $185.37 million for the quarter, compared to the consensus estimate of $184.17 million. OFG Bancorp had a return on equity of 15.21% and a net margin of 22.72%.The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.09 EPS. On average, equities analysts expect that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.

OFG Bancorp declared that its Board of Directors has initiated a stock repurchase program on Wednesday, January 28th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the bank to purchase up to 12% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

OFG Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This is an increase from OFG Bancorp’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.3%. OFG Bancorp’s dividend payout ratio is 30.57%.

About OFG Bancorp

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.