OFG Bancorp (NYSE:OFG) Given Average Rating of “Moderate Buy” by Brokerages

OFG Bancorp (NYSE:OFG) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $47.20.

Several equities research analysts have recently issued reports on OFG shares. Truist Financial raised their price objective on OFG Bancorp from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Zacks Research raised OFG Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Piper Sandler reaffirmed a “neutral” rating and issued a $48.00 price objective (up from $43.00) on shares of OFG Bancorp in a research note on Wednesday, April 22nd. Finally, Wells Fargo & Company raised their price objective on OFG Bancorp from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 22nd.

Institutional Investors Weigh In On OFG Bancorp

Institutional investors have recently modified their holdings of the stock. Quarry LP bought a new stake in shares of OFG Bancorp in the 3rd quarter valued at approximately $35,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of OFG Bancorp during the 3rd quarter worth approximately $53,000. EverSource Wealth Advisors LLC lifted its stake in shares of OFG Bancorp by 250.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,533 shares of the bank’s stock worth $66,000 after acquiring an additional 1,095 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of OFG Bancorp during the 2nd quarter worth approximately $97,000. Finally, Royal Bank of Canada lifted its stake in shares of OFG Bancorp by 80.2% during the 1st quarter. Royal Bank of Canada now owns 3,901 shares of the bank’s stock worth $158,000 after acquiring an additional 1,736 shares during the last quarter. 92.73% of the stock is owned by institutional investors.

OFG Bancorp Stock Performance

NYSE OFG opened at $46.71 on Wednesday. The stock has a market capitalization of $1.97 billion, a PE ratio of 9.65 and a beta of 0.70. The business has a 50 day simple moving average of $44.27 and a two-hundred day simple moving average of $41.98. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.87 and a quick ratio of 0.86. OFG Bancorp has a 1-year low of $35.71 and a 1-year high of $47.62.

OFG Bancorp (NYSE:OFG) last posted its quarterly earnings data on Tuesday, March 31st. The bank reported $1.26 earnings per share (EPS) for the quarter. The business had revenue of $185.80 million during the quarter. OFG Bancorp had a return on equity of 15.62% and a net margin of 23.45%. On average, research analysts predict that OFG Bancorp will post 4.75 EPS for the current fiscal year.

OFG Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 30th. OFG Bancorp’s dividend payout ratio (DPR) is presently 28.93%.

About OFG Bancorp

OFG Bancorp, through its principal subsidiary Oriental Bank, is a financial holding company headquartered in San Juan, Puerto Rico. The company provides a wide range of banking services, including commercial and consumer deposit accounts, small business loans, corporate lending, treasury management, and cash management solutions. Its consumer offerings encompass personal checking and savings accounts, credit cards, and electronic banking platforms designed to serve retail customers across its markets.

In addition to traditional banking products, OFG Bancorp offers mortgage origination and servicing, as well as wealth management and trust services for high‐net‐worth individuals and institutional clients.