OFG Bancorp (OFG) Given Consensus Recommendation of “Buy” by Analysts

OFG Bancorp (NYSE:OFG) has been assigned a consensus recommendation of “Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have issued a report on the stock in the last year is $17.75.

OFG has been the subject of a number of research reports. Zacks Investment Research cut OFG Bancorp from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 22nd. Piper Jaffray Companies reiterated a “buy” rating and issued a $19.00 price objective on shares of OFG Bancorp in a report on Thursday, August 16th.

OFG opened at $18.18 on Monday. OFG Bancorp has a 12-month low of $8.50 and a 12-month high of $18.65. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $932.52 million, a PE ratio of 13.67 and a beta of 1.65.

OFG Bancorp (NYSE:OFG) last posted its quarterly earnings data on Friday, October 19th. The bank reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. OFG Bancorp had a return on equity of 10.28% and a net margin of 18.22%. The firm had revenue of $100.90 million during the quarter, compared to analysts’ expectations of $94.80 million. As a group, equities research analysts expect that OFG Bancorp will post 1.48 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, December 28th. This is a boost from OFG Bancorp’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 1.54%. OFG Bancorp’s dividend payout ratio is currently 18.05%.

Hedge funds have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. purchased a new stake in OFG Bancorp during the 3rd quarter valued at about $110,000. Tower Research Capital LLC TRC boosted its holdings in OFG Bancorp by 1,775.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 9,941 shares of the bank’s stock valued at $160,000 after acquiring an additional 9,411 shares during the period. Sei Investments Co. boosted its holdings in OFG Bancorp by 223.1% during the 2nd quarter. Sei Investments Co. now owns 9,958 shares of the bank’s stock valued at $140,000 after acquiring an additional 6,876 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in OFG Bancorp during the 2nd quarter valued at about $144,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in OFG Bancorp during the 3rd quarter valued at about $170,000. Institutional investors own 85.49% of the company’s stock.

OFG Bancorp Company Profile

OFG Bancorp, a financial holding company, provides various banking and financial services. It operates in three segments: Banking, Wealth Management, and Treasury. The company offers checking and savings accounts, as well as time deposit products; commercial, consumer, auto, and mortgage lending products; and financial planning, investment brokerage, corporate and individual trust, and retirement services.

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