OFG Bancorp (OFG) To Go Ex-Dividend on June 28th

OFG Bancorp (NYSE:OFG) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.25 per share by the bank on Monday, July 15th. This represents a $1.00 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, June 28th.

OFG Bancorp has increased its dividend by an average of 46.5% per year over the last three years. OFG Bancorp has a dividend payout ratio of 25.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect OFG Bancorp to earn $3.95 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 25.3%.

OFG Bancorp Stock Performance

NYSE:OFG opened at $36.67 on Wednesday. The firm has a market capitalization of $1.72 billion, a PE ratio of 9.38 and a beta of 1.07. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.17. OFG Bancorp has a 1 year low of $25.25 and a 1 year high of $39.04. The firm’s fifty day simple moving average is $36.70 and its 200 day simple moving average is $36.41.

OFG Bancorp (NYSE:OFG) last released its earnings results on Thursday, April 18th. The bank reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.10. OFG Bancorp had a return on equity of 16.10% and a net margin of 23.00%. The firm had revenue of $213.49 million for the quarter, compared to analyst estimates of $175.20 million. During the same quarter last year, the firm posted $0.96 EPS. On average, sell-side analysts anticipate that OFG Bancorp will post 4.02 EPS for the current year.

Insider Activity

In other OFG Bancorp news, insider Ganesh Kumar sold 20,074 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $38.00, for a total value of $762,812.00. Following the sale, the insider now owns 91,335 shares of the company’s stock, valued at approximately $3,470,730. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.16% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company dropped their target price on shares of OFG Bancorp from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th.

OFG Bancorp Company Profile

OFG Bancorp, a financial holding company, provides a range of banking and financial services. It operates through three segments: Banking, Wealth Management, and Treasury. The company offers checking and savings accounts, and individual retirement accounts; certificate of deposits, as well as time deposit products; commercial, consumer, auto leasing, and mortgage lending services; credit cards; cash management; financial planning and insurance services; and corporate and individual trust, and retirement services.