OFG Bancorp (OFG) Receives $17.00 Consensus PT from Brokerages
OFG Bancorp (NYSE:OFG) has been assigned a consensus recommendation of “Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $17.00.
A number of equities research analysts have commented on OFG shares. ValuEngine raised OFG Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. Zacks Investment Research downgraded OFG Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, December 22nd.
A number of institutional investors have recently added to or reduced their stakes in the business. TIAA CREF Investment Management LLC increased its position in shares of OFG Bancorp by 3.3% in the third quarter. TIAA CREF Investment Management LLC now owns 315,823 shares of the bank’s stock valued at $5,101,000 after buying an additional 10,108 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of OFG Bancorp by 5.6% in the third quarter. Bank of New York Mellon Corp now owns 618,245 shares of the bank’s stock valued at $9,985,000 after buying an additional 32,548 shares in the last quarter. Bailard Inc. purchased a new position in shares of OFG Bancorp in the fourth quarter valued at $408,000. Stilwell Value LLC increased its position in shares of OFG Bancorp by 29.3% in the fourth quarter. Stilwell Value LLC now owns 2,087,898 shares of the bank’s stock valued at $34,367,000 after buying an additional 473,030 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of OFG Bancorp in the third quarter valued at $187,000. 90.69% of the stock is owned by institutional investors.
OFG Bancorp (NYSE:OFG) last issued its quarterly earnings results on Tuesday, January 22nd. The bank reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.04. OFG Bancorp had a return on equity of 10.38% and a net margin of 19.16%. The firm had revenue of $106.29 million during the quarter, compared to the consensus estimate of $98.30 million. On average, sell-side analysts predict that OFG Bancorp will post 1.68 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Thursday, March 28th. OFG Bancorp’s dividend payout ratio (DPR) is currently 18.42%.
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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