$0.26 Earnings Per Share Expected for OFG Bancorp (NYSE:OFG) This Quarter
Brokerages predict that OFG Bancorp (NYSE:OFG) will post $0.26 earnings per share for the current quarter, Zacks reports. Zero analysts have made estimates for OFG Bancorp’s earnings. OFG Bancorp posted earnings of $0.25 per share during the same quarter last year, which would indicate a positive year over year growth rate of 4%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Friday, July 21st.
On average, analysts expect that OFG Bancorp will report full-year earnings of $1.06 per share for the current financial year. For the next year, analysts forecast that the company will post earnings of $1.08 per share. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for OFG Bancorp.
OFG Bancorp (NYSE:OFG) last issued its quarterly earnings results on Friday, April 21st. The bank reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. OFG Bancorp had a net margin of 14.19% and a return on equity of 8.05%. The firm had revenue of $93.69 million for the quarter, compared to analyst estimates of $87.50 million. During the same period in the previous year, the business earned $0.24 EPS.
OFG has been the topic of a number of recent research reports. ValuEngine lowered shares of OFG Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $14.00 price objective on shares of OFG Bancorp in a research note on Thursday, April 13th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in OFG Bancorp by 10.4% in the first quarter. Vanguard Group Inc. now owns 4,786,813 shares of the bank’s stock worth $56,484,000 after buying an additional 452,121 shares during the period. State Street Corp raised its position in OFG Bancorp by 31.6% in the first quarter. State Street Corp now owns 1,749,823 shares of the bank’s stock worth $20,653,000 after buying an additional 420,589 shares during the period. Renaissance Technologies LLC acquired a new position in OFG Bancorp during the fourth quarter worth $3,798,000. AQR Capital Management LLC raised its position in OFG Bancorp by 87.2% in the fourth quarter. AQR Capital Management LLC now owns 447,408 shares of the bank’s stock worth $5,861,000 after buying an additional 208,389 shares during the period. Finally, LSV Asset Management raised its position in OFG Bancorp by 12.4% in the first quarter. LSV Asset Management now owns 1,321,306 shares of the bank’s stock worth $15,591,000 after buying an additional 145,360 shares during the period. 99.48% of the stock is currently owned by hedge funds and other institutional investors.
Shares of OFG Bancorp (NYSE OFG) opened at 9.90 on Monday. The firm has a 50-day moving average of $9.86 and a 200 day moving average of $11.82. OFG Bancorp has a 52 week low of $9.05 and a 52 week high of $14.48. The firm has a market capitalization of $435.08 million, a price-to-earnings ratio of 9.40 and a beta of 1.48.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Wednesday, June 28th. OFG Bancorp’s dividend payout ratio (DPR) is 23.08%.
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About OFG Bancorp
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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