OFG Bancorp (OFG) Reaches New 1-Year Low at $8.00
Shares of OFG Bancorp (NYSE:OFG) reached a new 52-week low on Tuesday . The stock traded as low as $8.00 and last traded at $8.45, with a volume of 105756 shares. The stock had previously closed at $8.30.
Several analysts recently weighed in on OFG shares. Piper Jaffray Companies reissued a “hold” rating and set a $11.00 price target on shares of OFG Bancorp in a report on Friday, October 27th. ValuEngine cut OFG Bancorp from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Sandler O’Neill raised OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Monday, October 30th. Finally, BidaskClub cut OFG Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $12.33.
The firm has a market cap of $353.78, a price-to-earnings ratio of 6.75 and a beta of 1.62. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.89 and a current ratio of 0.92.
OFG Bancorp (NYSE:OFG) last issued its quarterly earnings results on Wednesday, October 25th. The bank reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.12. The company had revenue of $98.39 million during the quarter, compared to analyst estimates of $90.60 million. OFG Bancorp had a return on equity of 9.05% and a net margin of 11.92%. During the same period in the previous year, the company earned $0.14 earnings per share. equities research analysts predict that OFG Bancorp will post 1.12 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were paid a $0.06 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.98%. OFG Bancorp’s payout ratio is 30.00%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Everence Capital Management Inc. acquired a new position in shares of OFG Bancorp in the third quarter valued at $103,000. Virtu KCG Holdings LLC acquired a new position in shares of OFG Bancorp in the second quarter valued at $117,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of OFG Bancorp in the second quarter valued at $127,000. BNP Paribas Arbitrage SA raised its stake in shares of OFG Bancorp by 53.8% in the second quarter. BNP Paribas Arbitrage SA now owns 13,649 shares of the bank’s stock valued at $136,000 after purchasing an additional 4,775 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its stake in shares of OFG Bancorp by 7.2% in the second quarter. Neuberger Berman Group LLC now owns 14,436 shares of the bank’s stock valued at $144,000 after purchasing an additional 966 shares in the last quarter. Institutional investors and hedge funds own 97.17% of the company’s stock.
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OFG Bancorp Company Profile
OFG Bancorp is a financial holding company. The Company is engaged in providing banking and financial services through its subsidiaries. The Company operates through three segments: Banking, Wealth Management and Treasury. The Company provides banking and financial services to its clients through a range of banking and financial solutions, including commercial, consumer, auto, and mortgage lending; checking and savings accounts; financial planning, insurance, financial service, and investment brokerage, and corporate and individual trust and retirement services.
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