OFG Bancorp. Downgraded by Zacks to “Underperform” (OFG)
OFG Bancorp. (NYSE:OFG) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued on Tuesday, Stock Ratings News reports. They currently have a $14.60 price objective on the stock. Zacks‘ target price would suggest a potential downside of 5.13% from the stock’s previous close.
Shares of OFG Bancorp. (NYSE:OFG) traded up 0.71% on Tuesday, hitting $15.50. 133,853 shares of the company’s stock traded hands. OFG Bancorp. has a one year low of $14.23 and a one year high of $19.33. The stock’s 50-day moving average is $16.64 and its 200-day moving average is $17.00. The company has a market cap of $707.7 million and a price-to-earnings ratio of 15.62.
OFG Bancorp. (NYSE:OFG) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.40 by $0.06. During the same quarter in the prior year, the company posted $0.35 earnings per share. On average, analysts predict that OFG Bancorp. will post $1.82 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Friday, December 27th. This is a boost from OFG Bancorp.’s previous quarterly dividend of $0.06.
Separately, analysts at Guggenheim initiated coverage on shares of OFG Bancorp. in a research note to investors on Friday, December 13th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. OFG Bancorp. has an average rating of “Buy” and a consensus price target of $19.32.
OFG Bancorp, formerly Oriental Financial Group Inc is a diversified financial holding company. The Company’s three principal subsidiaries, Oriental Bank, Oriental Financial Services and Oriental Insurance, provides a range of commercial, consumer and mortgage banking services, as well as financial planning, trust, insurance, investment brokerage and investment banking services, primarily in Puerto Rico, through 64 financial centers.
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