OFG Bancorp (OFG) Expected to Announce Earnings of $0.28 Per Share
Equities research analysts forecast that OFG Bancorp (NYSE:OFG) will post earnings of $0.28 per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for OFG Bancorp’s earnings. OFG Bancorp reported earnings per share of $0.27 in the same quarter last year, which indicates a positive year-over-year growth rate of 3.7%. The company is scheduled to issue its next earnings report on Tuesday, January 30th.
According to Zacks, analysts expect that OFG Bancorp will report full year earnings of $1.12 per share for the current year. For the next financial year, analysts expect that the firm will report earnings of $1.08 per share. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover OFG Bancorp.
OFG Bancorp (NYSE:OFG) last announced its quarterly earnings results on Wednesday, October 25th. The bank reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.12. The firm had revenue of $98.39 million for the quarter, compared to the consensus estimate of $90.60 million. OFG Bancorp had a return on equity of 9.05% and a net margin of 11.92%. During the same quarter in the previous year, the business earned $0.14 earnings per share.
OFG has been the topic of a number of recent analyst reports. ValuEngine raised OFG Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $11.00 target price on shares of OFG Bancorp in a research report on Friday, October 27th. Keefe, Bruyette & Woods raised OFG Bancorp from a “market perform” rating to an “outperform” rating in a research report on Tuesday, November 28th. Finally, Sandler O’Neill raised OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Monday, October 30th. One equities research 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. OFG Bancorp presently has an average rating of “Hold” and a consensus target price of $12.33.
OFG Bancorp (NYSE OFG) opened at $9.65 on Friday. The firm has a market capitalization of $413.11, a P/E ratio of 7.64 and a beta of 1.65. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. OFG Bancorp has a 12-month low of $7.80 and a 12-month high of $14.00.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, December 28th. OFG Bancorp’s payout ratio is 28.92%.
In other news, Director Jesus Nestor De bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were bought at an average price of $7.95 per share, with a total value of $39,750.00. Following the completion of the transaction, the director now owns 5,400 shares of the company’s stock, valued at $42,930. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.56% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Everence Capital Management Inc. bought a new stake in shares of OFG Bancorp in the third quarter valued at approximately $103,000. Virtu KCG Holdings LLC bought a new stake in shares of OFG Bancorp in the second quarter valued at approximately $117,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of OFG Bancorp in the second quarter valued at approximately $127,000. BNP Paribas Arbitrage SA boosted its stake in shares of OFG Bancorp by 53.8% in the second quarter. BNP Paribas Arbitrage SA now owns 13,649 shares of the bank’s stock valued at $136,000 after buying an additional 4,775 shares during the period. Finally, Neuberger Berman Group LLC boosted its stake in shares of OFG Bancorp by 7.2% in the second quarter. Neuberger Berman Group LLC now owns 14,436 shares of the bank’s stock valued at $144,000 after buying an additional 966 shares during the period. Institutional investors and hedge funds own 96.55% of the company’s stock.
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OFG Bancorp Company Profile
OFG Bancorp is a financial holding company. The Company is engaged in providing banking and financial services through its subsidiaries. The Company operates through three segments: Banking, Wealth Management and Treasury. 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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