OFG Bancorp (OFG) To Go Ex-Dividend on December 31st

OFG Bancorp (NYSE:OFG) announced a quarterly dividend on Monday, November 3rd. Stockholders of record on Wednesday, December 31st will be given a dividend of 0.30 per share by the bank on Thursday, January 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, December 31st.

OFG Bancorp has raised its dividend payment by an average of 0.3%annually over the last three years and has increased its dividend every year for the last 5 years. OFG Bancorp has a dividend payout ratio of 27.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect OFG Bancorp to earn $4.39 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 27.3%.

OFG Bancorp Price Performance

OFG stock opened at $41.74 on Monday. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 9.49 and a beta of 0.78. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.85 and a quick ratio of 0.85. The company has a 50 day simple moving average of $40.56 and a 200 day simple moving average of $42.37. OFG Bancorp has a 1 year low of $33.15 and a 1 year high of $46.11.

OFG Bancorp (NYSE:OFG) last posted its earnings results on Wednesday, October 22nd. The bank reported $1.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.16. OFG Bancorp had a net margin of 22.26% and a return on equity of 15.18%. The firm had revenue of $186.18 million for the quarter, compared to analysts’ expectations of $186.71 million. During the same quarter in the previous year, the firm posted $1.00 earnings per share. The company’s revenue was up 5.7% on a year-over-year basis. Research analysts anticipate that OFG Bancorp will post 4.18 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on OFG. UBS Group set a $50.00 target price on OFG Bancorp in a research report on Thursday, October 9th. Keefe, Bruyette & Woods lowered their price objective on OFG Bancorp from $51.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, October 23rd. Truist Financial dropped their price objective on shares of OFG Bancorp from $50.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. Wells Fargo & Company reduced their target price on shares of OFG Bancorp from $48.00 to $43.00 and set an “equal weight” rating on the stock in a report on Monday, October 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of OFG Bancorp in a research report on Monday, December 15th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.17.

About OFG Bancorp

OFG Bancorp, through its principal subsidiary Oriental Bank, is a financial holding company headquartered in San Juan, Puerto Rico. The company provides a wide range of banking services, including commercial and consumer deposit accounts, small business loans, corporate lending, treasury management, and cash management solutions. Its consumer offerings encompass personal checking and savings accounts, credit cards, and electronic banking platforms designed to serve retail customers across its markets.

In addition to traditional banking products, OFG Bancorp offers mortgage origination and servicing, as well as wealth management and trust services for high‐net‐worth individuals and institutional clients.