OFG Bancorp (OFG) Posts Earnings Results, Beats Estimates By $0.21 EPS
OFG Bancorp (NYSE:OFG) released its earnings results on Tuesday. The bank reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.21, Briefing.com reports. The company had revenue of $90.33 million during the quarter, compared to analysts’ expectations of $86.90 million. OFG Bancorp had a return on equity of 9.61% and a net margin of 12.41%. During the same quarter last year, the business posted $0.27 EPS.
OFG Bancorp (NYSE OFG) opened at $11.40 on Thursday. The stock has a market capitalization of $448.26, a price-to-earnings ratio of 7.67 and a beta of 1.66. OFG Bancorp has a one year low of $7.80 and a one year high of $13.60. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 0.92.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Thursday, December 28th. OFG Bancorp’s payout ratio is 27.91%.
In related news, Director Jesus Nestor De acquired 5,000 shares of the stock in a transaction on Wednesday, November 8th. The stock was acquired at an average price of $7.95 per share, for a total transaction of $39,750.00. Following the completion of the purchase, the director now owns 5,400 shares of the company’s stock, valued at $42,930. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.56% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the business. Stilwell Value LLC raised its stake in OFG Bancorp by 9.1% during the fourth quarter. Stilwell Value LLC now owns 1,614,868 shares of the bank’s stock valued at $15,180,000 after buying an additional 135,343 shares during the last quarter. Bowling Portfolio Management LLC purchased a new position in OFG Bancorp during the fourth quarter valued at $2,094,000. First Manhattan Co. raised its stake in OFG Bancorp by 20.0% during the fourth quarter. First Manhattan Co. now owns 60,000 shares of the bank’s stock valued at $564,000 after buying an additional 10,000 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in OFG Bancorp by 8.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 834,479 shares of the bank’s stock valued at $7,845,000 after buying an additional 66,920 shares during the last quarter. Finally, Sterling Capital Management LLC purchased a new position in OFG Bancorp during the third quarter valued at $220,000. Institutional investors and hedge funds own 97.13% 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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