Key Points
- Director Jesus Nestor De sold 2,000 OFG Bancorp shares on Dec. 22 at an average of $42.31 for $84,620, trimming his stake by 8.1% to 22,690 shares (valued ≈ $960,014).
- OFG declared a quarterly dividend of $0.30 per share (ex-dividend Dec. 31, payable Jan. 15), equal to $1.20 annually and a ~2.8% yield with a 27.27% payout ratio.
- The bank reported Q3 EPS of $1.16 (in line) with revenue up 5.7% YoY; OFG has a market cap of $1.86B, a P/E of 9.61, and a consensus rating of Moderate Buy with an average target of $47.17.
OFG Bancorp (NYSE:OFG - Get Free Report) Director Jesus Nestor De sold 2,000 shares of the stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $42.31, for a total transaction of $84,620.00. Following the completion of the transaction, the director directly owned 22,690 shares of the company's stock, valued at $960,013.90. This trade represents a 8.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
OFG Bancorp Stock Down 0.0%
NYSE OFG opened at $42.28 on Tuesday. OFG Bancorp has a 1-year low of $33.15 and a 1-year high of $46.11. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 9.61 and a beta of 0.78. The stock's 50 day moving average is $40.56 and its two-hundred day moving average is $42.37. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.33.
OFG Bancorp (NYSE:OFG - Get Free Report) last posted its earnings results on Wednesday, October 22nd. The bank reported $1.16 EPS for the quarter, hitting the consensus estimate of $1.16. The business had revenue of $186.18 million during the quarter, compared to the consensus estimate of $186.71 million. OFG Bancorp had a return on equity of 15.18% and a net margin of 22.26%.OFG Bancorp's revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the company earned $1.00 EPS. Equities analysts forecast that OFG Bancorp will post 4.18 earnings per share for the current fiscal year.
OFG Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. OFG Bancorp's dividend payout ratio (DPR) is presently 27.27%.
Analyst Upgrades and Downgrades
OFG has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of OFG Bancorp in a research report on Monday, December 15th. Zacks Research cut shares of OFG Bancorp from a "hold" rating to a "strong sell" rating in a research note on Tuesday, December 16th. Wells Fargo & Company dropped their price objective on shares of OFG Bancorp from $48.00 to $43.00 and set an "equal weight" rating for the company in a report on Monday, October 27th. Truist Financial reduced their target price on OFG Bancorp from $50.00 to $48.00 and set a "buy" rating on the stock in a report on Thursday, October 23rd. Finally, UBS Group set a $50.00 price target on OFG Bancorp in a research report on Thursday, October 9th. 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 stock. Based on data from MarketBeat.com, OFG Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $47.17.
Check Out Our Latest Stock Report on OFG
Hedge Funds Weigh In On OFG Bancorp
A number of large investors have recently modified their holdings of the stock. Hsbc Holdings PLC grew its stake in shares of OFG Bancorp by 76.3% during the first quarter. Hsbc Holdings PLC now owns 27,083 shares of the bank's stock valued at $1,083,000 after purchasing an additional 11,725 shares during the last quarter. Penn Capital Management Company LLC bought a new position in OFG Bancorp in the 1st quarter valued at $726,000. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of OFG Bancorp in the 1st quarter valued at $1,237,000. Elizabeth Park Capital Advisors Ltd. raised its position in shares of OFG Bancorp by 32.8% during the first quarter. Elizabeth Park Capital Advisors Ltd. now owns 66,049 shares of the bank's stock worth $2,643,000 after acquiring an additional 16,330 shares during the last quarter. Finally, Vident Advisory LLC acquired a new position in shares of OFG Bancorp during the first quarter valued at $210,000. 92.73% of the stock is currently owned by institutional investors and hedge funds.
OFG Bancorp Company Profile
(
Get Free Report)
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.
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