OFG Bancorp (OFG) Set to Announce Quarterly Earnings on Wednesday

OFG Bancorp (NYSE:OFG) is scheduled to be announcing its earnings results before the market opens on Wednesday, October 16th. Analysts expect the company to announce earnings of $1.07 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

OFG Bancorp (NYSE:OFG) last released its earnings results on Thursday, July 18th. The bank reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.12. The firm had revenue of $179.40 million for the quarter, compared to the consensus estimate of $176.09 million. OFG Bancorp had a return on equity of 16.25% and a net margin of 22.95%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS. On average, analysts expect OFG Bancorp to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

OFG Bancorp Stock Up 0.6 %

Shares of OFG opened at $44.41 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. OFG Bancorp has a 52-week low of $28.32 and a 52-week high of $47.57. The company has a market cap of $2.09 billion, a PE ratio of 11.36 and a beta of 0.98. The business has a fifty day moving average of $43.65 and a 200 day moving average of $39.95.

OFG Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 2.25%. OFG Bancorp’s dividend payout ratio (DPR) is presently 25.58%.

Insider Buying and Selling at OFG Bancorp

In related news, Director Jorge Colon sold 33,081 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $45.73, for a total value of $1,512,794.13. Following the transaction, the director now owns 70,919 shares of the company’s stock, valued at $3,243,125.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

OFG has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price objective on shares of OFG Bancorp from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Piper Sandler began coverage on OFG Bancorp in a report on Monday, August 26th. They issued an “overweight” rating and a $49.00 price target on the stock. Finally, Hovde Group boosted their price objective on OFG Bancorp from $44.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, July 22nd.

About OFG Bancorp

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.