OFG Bancorp (NYSE:OFG) declared a quarterly dividend on Thursday, August 24th, Wall Street Journal reports. Shareholders of record on Friday, September 29th will be given a dividend of 0.06 per share by the bank on Monday, October 16th. This represents a $0.24 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Thursday, September 28th.

OFG Bancorp has decreased its dividend payment by an average of 9.1% per year over the last three years and has raised its dividend every year for the last 3 years. OFG Bancorp has a dividend payout ratio of 21.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect OFG Bancorp to earn $1.14 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 21.1%.

OFG Bancorp (OFG) traded up 2.26% during trading on Thursday, reaching $9.05. 107,407 shares of the company’s stock traded hands. The firm has a market cap of $397.72 million, a price-to-earnings ratio of 8.20 and a beta of 1.48. The company has a 50 day moving average of $9.82 and a 200 day moving average of $10.87. OFG Bancorp has a one year low of $8.75 and a one year high of $14.48.

OFG Bancorp (NYSE:OFG) last announced its earnings results on Friday, July 21st. The bank reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. OFG Bancorp had a return on equity of 8.36% and a net margin of 14.58%. The company had revenue of $100.45 million for the quarter, compared to the consensus estimate of $90.95 million. During the same period last year, the business posted $0.25 EPS. Equities research analysts predict that OFG Bancorp will post $1.12 EPS for the current year.

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Several research analysts have weighed in on the company. Piper Jaffray Companies reiterated a “hold” rating and issued a $12.50 target price on shares of OFG Bancorp in a research note on Friday, July 21st. BidaskClub downgraded OFG Bancorp from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. Finally, ValuEngine downgraded OFG Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 17th.

OFG Bancorp Company Profile

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.

Dividend History for OFG Bancorp (NYSE:OFG)

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