ValuEngine upgraded shares of OFG Bancorp (NYSE:OFG) from a hold rating to a buy rating in a research note released on Friday.

Several other equities research analysts also recently issued reports on OFG. Piper Jaffray Companies reissued a hold rating and issued a $11.00 price objective on shares of OFG Bancorp in a research note on Friday, October 27th. Sandler O’Neill raised OFG Bancorp from a hold rating to a buy rating and set a $12.00 price objective for the company in a research note on Monday, October 30th. Finally, Keefe, Bruyette & Woods raised OFG Bancorp from a market perform rating to an outperform rating in a research note on Tuesday, November 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $12.33.

Shares of OFG Bancorp (NYSE:OFG) traded down $0.10 during trading on Friday, reaching $9.65. The company had a trading volume of 315,400 shares, compared to its average volume of 248,539. The stock has a market cap of $428.49, a P/E ratio of 7.93 and a beta of 1.65. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 0.91. OFG Bancorp has a 1 year low of $7.80 and a 1 year high of $14.48.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings data on Wednesday, October 25th. The bank reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.12. The firm had revenue of $98.39 million during the quarter, compared to the consensus estimate 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 prior year, the business earned $0.14 EPS. research analysts forecast that OFG Bancorp will post 1.12 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, December 28th. OFG Bancorp’s dividend payout ratio is currently 28.92%.

In other news, Director Jesus Nestor De purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was bought at an average cost of $7.95 per share, with a total value of $39,750.00. Following the purchase, the director now directly owns 5,400 shares of the company’s stock, valued at $42,930. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.56% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sterling Capital Management LLC purchased a new stake in shares of OFG Bancorp during the 3rd quarter worth about $220,000. California Public Employees Retirement System raised its stake in shares of OFG Bancorp by 15.0% during the 3rd quarter. California Public Employees Retirement System now owns 209,699 shares of the bank’s stock worth $1,919,000 after purchasing an additional 27,299 shares in the last quarter. Engineers Gate Manager LP raised its stake in shares of OFG Bancorp by 166.5% during the 3rd quarter. Engineers Gate Manager LP now owns 75,249 shares of the bank’s stock worth $689,000 after purchasing an additional 47,008 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of OFG Bancorp during the 3rd quarter worth about $188,000. Finally, Hartford Investment Management Co. purchased a new stake in shares of OFG Bancorp during the 3rd quarter worth about $189,000. 96.55% of the stock is owned by institutional investors.

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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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