OFG Bancorp (OFG) Expected to Announce Quarterly Earnings on Wednesday

OFG Bancorp (NYSE:OFGGet Free Report) is projected to post its quarterly earnings results before the market opens on Wednesday, January 22nd. Analysts expect OFG Bancorp to post earnings of $0.97 per share and revenue of $148,050.00 billion for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

OFG Bancorp Trading Up 2.2 %

OFG opened at $44.25 on Tuesday. The firm has a market cap of $2.03 billion, a P/E ratio of 10.77 and a beta of 1.02. The stock has a 50-day moving average of $43.60 and a 200 day moving average of $43.15. OFG Bancorp has a 12 month low of $33.19 and a 12 month high of $47.66. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21.

OFG Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 2.26%. OFG Bancorp’s dividend payout ratio (DPR) is presently 24.33%.

OFG Bancorp declared that its Board of Directors has initiated a stock repurchase program on Monday, October 28th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the bank to buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, CEO Jose Rafael Fernandez sold 50,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $45.24, for a total transaction of $2,262,000.00. Following the sale, the chief executive officer now owns 284,775 shares of the company’s stock, valued at approximately $12,883,221. This represents a 14.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.16% of the company’s stock.

Analyst Ratings Changes

OFG has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price objective on shares of OFG Bancorp from $49.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Keefe, Bruyette & Woods upped their price objective on shares of OFG Bancorp from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler lowered their price objective on OFG Bancorp from $49.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th.

Read Our Latest Stock Report on OFG

About OFG Bancorp

(Get Free Report)

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.

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Earnings History for OFG Bancorp (NYSE:OFG)

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