OFG Bancorp Plans Quarterly Dividend of $0.06 (OFG)
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.
TRADEMARK VIOLATION NOTICE: “OFG Bancorp Plans Quarterly Dividend of $0.06 (OFG)” was published by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international copyright and trademark legislation. The legal version of this article can be accessed at https://www.americanbankingnews.com/2017/08/24/ofg-bancorp-plans-quarterly-dividend-of-0-06-ofg.html.
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.
Receive News & Ratings for OFG Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OFG Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.