OFG Bancorp (OFG) to Release Earnings on Wednesday

OFG Bancorp (NYSE:OFG) is expected to be issuing its quarterly earnings data before the market opens on Wednesday, January 22nd. Analysts expect the company to announce earnings of $0.97 per share and revenue of $148,050.00 billion for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

OFG Bancorp Price Performance

OFG opened at $44.25 on Monday. OFG Bancorp has a 1 year low of $33.19 and a 1 year high of $47.66. The stock has a 50-day moving average price of $43.61 and a 200-day moving average price of $43.10. The firm has a market cap of $2.03 billion, a PE ratio of 10.77 and a beta of 1.02. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.86 and a quick ratio of 0.86.

OFG Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.25 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 2.26%. OFG Bancorp’s dividend payout ratio is presently 24.33%.

OFG Bancorp declared that its Board of Directors has authorized a share repurchase program on Monday, October 28th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the bank to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OFG. Keefe, Bruyette & Woods increased their target price on OFG Bancorp from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler dropped their price objective on OFG Bancorp from $49.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Finally, Wells Fargo & Company decreased their target price on OFG Bancorp from $49.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, January 6th.

Insider Activity

In other OFG Bancorp news, CEO Jose Rafael Fernandez sold 50,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $45.24, for a total transaction of $2,262,000.00. Following the completion of the sale, the chief executive officer now directly owns 284,775 shares in the company, valued at $12,883,221. The trade was a 14.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.16% of the company’s stock.

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.