OFG Bancorp (OFG) to Release Quarterly Earnings on Wednesday

OFG Bancorp (NYSE:OFG) 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. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

OFG Bancorp Price Performance

Shares of OFG Bancorp stock opened at $44.25 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.21. OFG Bancorp has a 52 week low of $33.19 and a 52 week high of $47.66. The stock’s 50-day simple moving average is $43.61 and its 200-day simple moving average is $43.10. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 10.77 and a beta of 1.02.

OFG Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.25 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 2.26%. OFG Bancorp’s dividend payout ratio is presently 24.33%.

OFG Bancorp announced that its Board of Directors has initiated a share repurchase plan on Monday, October 28th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the bank to repurchase up to 2.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at OFG Bancorp

In other OFG Bancorp news, CEO Jose Rafael Fernandez sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $45.24, for a total value of $2,262,000.00. Following the completion of the sale, the chief executive officer now owns 284,775 shares of the company’s stock, valued at $12,883,221. This trade 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 is available at this hyperlink. Company insiders own 2.16% of the company’s stock.

Wall Street Analyst Weigh In

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

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.