OFG Bancorp (NYSE:OFG – Get Free Report) 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 – Get Free Report) 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
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.
View Our Latest Research Report on OFG
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.
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