OFG Bancorp (NYSE:OFG) Releases Earnings Results

OFG Bancorp (NYSE:OFG) issued its quarterly earnings data on Tuesday. The bank reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.25, MarketWatch Earnings reports. OFG Bancorp had a return on equity of 11.25% and a net margin of 17.74%.

OFG Bancorp stock traded down $0.44 during midday trading on Thursday, reaching $21.76. 1,570 shares of the stock traded hands, compared to its average volume of 194,107. The business has a 50-day simple moving average of $23.10. OFG Bancorp has a 12-month low of $11.97 and a 12-month high of $25.52. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 11.87 and a beta of 1.53. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.00 and a current ratio of 1.00.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 15th. Investors of record on Wednesday, June 30th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Tuesday, June 29th. OFG Bancorp’s dividend payout ratio (DPR) is 21.77%.

Separately, Zacks Investment Research upgraded OFG Bancorp from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Friday, July 2nd.

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, as well as time deposit products; commercial, consumer, auto, and mortgage lending; financial planning; and corporate and individual trust services.

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Earnings History for OFG Bancorp (NYSE:OFG)

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