OFG Bancorp (OFG) to Release Quarterly Earnings on Thursday

OFG Bancorp (NYSE:OFG) will be issuing its quarterly earnings data before the market opens on Thursday, April 18th. Analysts expect the company to announce earnings of $0.95 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

OFG Bancorp (NYSE:OFG) last posted its earnings results on Wednesday, January 24th. The bank reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.05. The business had revenue of $208.26 million for the quarter, compared to analyst estimates of $172.50 million. OFG Bancorp had a net margin of 23.62% and a return on equity of 16.25%. During the same quarter in the previous year, the business posted $0.97 EPS. On average, analysts expect OFG Bancorp to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

OFG Bancorp Stock Performance

NYSE:OFG opened at $34.07 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 8.92 and a beta of 1.09. The firm’s fifty day simple moving average is $35.94 and its 200 day simple moving average is $34.64. OFG Bancorp has a twelve month low of $22.34 and a twelve month high of $39.04.

OFG Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.25 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.94%. This is a positive change from OFG Bancorp’s previous quarterly dividend of $0.22. OFG Bancorp’s payout ratio is currently 26.18%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company cut their price objective on shares of OFG Bancorp from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th.

Insider Transactions at OFG Bancorp

In other news, insider Ganesh Kumar sold 15,768 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $35.91, for a total value of $566,228.88. Following the completion of the sale, the insider now owns 119,037 shares of the company’s stock, valued at approximately $4,274,618.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 34,536 shares of company stock valued at $1,238,317. Insiders own 2.16% of the company’s stock.

Institutional Investors Weigh In On OFG Bancorp

A number of institutional investors have recently modified their holdings of OFG. Captrust Financial Advisors lifted its stake in shares of OFG Bancorp by 15.5% in the 2nd quarter. Captrust Financial Advisors now owns 10,208 shares of the bank’s stock worth $259,000 after acquiring an additional 1,368 shares during the period. ExodusPoint Capital Management LP lifted its stake in shares of OFG Bancorp by 11.7% in the 2nd quarter. ExodusPoint Capital Management LP now owns 9,872 shares of the bank’s stock worth $251,000 after acquiring an additional 1,037 shares during the period. Sei Investments Co. acquired a new stake in shares of OFG Bancorp in the 4th quarter worth approximately $223,000. Boothbay Fund Management LLC lifted its stake in shares of OFG Bancorp by 8.6% in the 1st quarter. Boothbay Fund Management LLC now owns 8,532 shares of the bank’s stock worth $213,000 after acquiring an additional 676 shares during the period. Finally, Thomas J. Herzfeld Advisors Inc. acquired a new stake in shares of OFG Bancorp in the 1st quarter worth approximately $188,000. Institutional investors own 92.73% of the company’s stock.

OFG Bancorp Company Profile

OFG Bancorp, a financial holding company, provides a range of banking and financial services. It operates through three segments: Banking, Wealth Management, and Treasury. The company offers checking and savings accounts, and individual retirement accounts; certificate of deposits, as well as time deposit products; commercial, consumer, auto leasing, and mortgage lending services; credit cards; cash management; financial planning and insurance services; and corporate and individual trust, and retirement services.