Key Points
- Insider Cesar Ortiz sold 5,500 shares of OFG Bancorp at an average price of $42.17 for about $231,935, leaving him with 351 shares — a 94.00% decrease in his ownership.
- OFG announced a quarterly dividend of $0.30 per share (annualized $1.20) with an ex-dividend date and record date on December 31 and payment on January 15, implying a ~2.8% yield.
- In its latest quarter OFG reported $1.16 EPS (meeting estimates) and revenue up 5.7% year-over-year, while analysts maintain a consensus "Moderate Buy" with a $47.17 price target.
OFG Bancorp (NYSE:OFG - Get Free Report) insider Cesar Ortiz sold 5,500 shares of the firm's stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $42.17, for a total value of $231,935.00. Following the completion of the transaction, the insider owned 351 shares in the company, valued at approximately $14,801.67. This trade represents a 94.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
OFG Bancorp Stock Up 0.3%
Shares of NYSE:OFG opened at $42.34 on Tuesday. The stock has a 50-day simple moving average of $40.54 and a 200-day simple moving average of $42.33. The stock has a market capitalization of $1.86 billion, a P/E ratio of 9.62 and a beta of 0.78. OFG Bancorp has a 1 year low of $33.15 and a 1 year high of $46.11. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.85 and a current ratio of 0.85.
OFG Bancorp (NYSE:OFG - Get Free Report) last posted its quarterly earnings results on Wednesday, October 22nd. The bank reported $1.16 EPS for the quarter, meeting the consensus estimate 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 analyst estimates of $186.71 million. During the same quarter last year, the firm posted $1.00 earnings per share. OFG Bancorp's revenue for the quarter was up 5.7% compared to the same quarter last year. Equities analysts forecast that OFG Bancorp will post 4.18 earnings per share for the current year.
OFG Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. OFG Bancorp's payout ratio is presently 27.27%.
Analysts Set New Price Targets
Several brokerages recently issued reports on OFG. Keefe, Bruyette & Woods lowered their price target on OFG Bancorp from $51.00 to $50.00 and set an "outperform" rating for the company in a report on Thursday, October 23rd. UBS Group set a $50.00 target price on OFG Bancorp in a research report on Thursday, October 9th. Wells Fargo & Company dropped their target price on OFG Bancorp from $48.00 to $43.00 and set an "equal weight" rating on the stock in a report on Monday, October 27th. Weiss Ratings reissued a "buy (b-)" rating on shares of OFG Bancorp in a research report on Monday, December 1st. Finally, Zacks Research raised shares of OFG Bancorp to a "hold" rating in a research report on Friday, October 10th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $47.17.
Get Our Latest Stock Report on OFG
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of OFG. Quarry LP acquired a new stake in OFG Bancorp during the 3rd quarter valued at approximately $35,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of OFG Bancorp during the 3rd quarter valued at approximately $53,000. EverSource Wealth Advisors LLC boosted its stake in shares of OFG Bancorp by 250.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,533 shares of the bank's stock valued at $66,000 after buying an additional 1,095 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of OFG Bancorp during the second quarter worth approximately $97,000. Finally, Quantbot Technologies LP bought a new stake in shares of OFG Bancorp in the second quarter worth $162,000. Hedge funds and other institutional investors own 92.73% of the company's stock.
OFG Bancorp Company Profile
(
Get Free Report)
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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