Q2 2019 EPS Estimates for OFG Bancorp (OFG) Boosted by Piper Jaffray Companies
OFG Bancorp (NYSE:OFG) – Investment analysts at Piper Jaffray Companies raised their Q2 2019 earnings per share (EPS) estimates for shares of OFG Bancorp in a research note issued to investors on Sunday, April 21st. Piper Jaffray Companies analyst B. Rabatin now expects that the bank will post earnings per share of $0.44 for the quarter, up from their prior estimate of $0.41. Piper Jaffray Companies also issued estimates for OFG Bancorp’s FY2019 earnings at $1.74 EPS, Q4 2020 earnings at $0.54 EPS and FY2020 earnings at $1.99 EPS.
A number of other equities research analysts have also recently weighed in on the company. ValuEngine cut OFG Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research cut OFG Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. OFG Bancorp has an average rating of “Buy” and a consensus price target of $18.00.
OFG Bancorp (NYSE:OFG) last posted its earnings results on Thursday, April 18th. The bank reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. OFG Bancorp had a return on equity of 10.66% and a net margin of 20.16%. The firm had revenue of $99.45 million during the quarter, compared to analysts’ expectations of $96.40 million.
The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Thursday, March 28th. OFG Bancorp’s payout ratio is currently 18.42%.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of OFG Bancorp by 4.2% in the fourth quarter. BlackRock Inc. now owns 6,565,378 shares of the bank’s stock valued at $108,066,000 after purchasing an additional 264,027 shares during the period. Vanguard Group Inc increased its holdings in shares of OFG Bancorp by 3.1% in the third quarter. Vanguard Group Inc now owns 4,641,703 shares of the bank’s stock valued at $74,963,000 after purchasing an additional 141,056 shares during the period. Vanguard Group Inc. increased its holdings in shares of OFG Bancorp by 3.1% in the third quarter. Vanguard Group Inc. now owns 4,641,703 shares of the bank’s stock valued at $74,963,000 after purchasing an additional 141,056 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of OFG Bancorp by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,739,745 shares of the bank’s stock valued at $61,556,000 after purchasing an additional 26,096 shares during the period. Finally, Stilwell Value LLC increased its holdings 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 purchasing an additional 473,030 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.
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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