Shares of OFG Bancorp (NYSE:OFG) hit a new 52-week high on Friday . The company traded as high as $18.14 and last traded at $18.15, with a volume of 21281 shares changing hands. The stock had previously closed at $17.79.
A number of analysts recently weighed in on OFG shares. TheStreet raised shares of OFG Bancorp from a “c+” rating to a “b” rating in a report on Monday, July 23rd. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $19.00 price objective on shares of OFG Bancorp in a research note on Thursday, August 16th. Sandler O’Neill reaffirmed a “buy” rating and issued a $18.00 price objective on shares of OFG Bancorp in a research note on Friday, July 20th. Finally, Zacks Investment Research raised shares of OFG Bancorp from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Wednesday, October 24th. Five investment analysts have rated the stock with a buy rating, OFG Bancorp currently has an average rating of “Buy” and an average target price of $17.75.
The company has a market cap of $912.52 million, a PE ratio of 12.44 and a beta of 1.65. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.88 and a current ratio of 0.89.
OFG Bancorp (NYSE:OFG) last announced its quarterly earnings data on Friday, October 19th. The bank reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05. OFG Bancorp had a net margin of 18.22% and a return on equity of 10.28%. The firm had revenue of $100.90 million for the quarter, compared to analysts’ expectations of $94.80 million. As a group, equities analysts predict that OFG Bancorp will post 1.5 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were given a dividend of $0.06 per share. The ex-dividend date was Thursday, September 27th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.32%. OFG Bancorp’s dividend payout ratio is 18.05%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. bought a new position in shares of OFG Bancorp during the third quarter worth $110,000. Sei Investments Co. boosted its position in shares of OFG Bancorp by 223.1% during the second quarter. Sei Investments Co. now owns 9,958 shares of the bank’s stock worth $140,000 after purchasing an additional 6,876 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of OFG Bancorp during the second quarter worth $144,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of OFG Bancorp during the third quarter worth $170,000. Finally, Meeder Asset Management Inc. bought a new position in shares of OFG Bancorp during the second quarter worth $153,000. 97.87% of the stock is currently owned by institutional investors.
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About OFG Bancorp (NYSE:OFG)
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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