OFG Bancorp (OFG) Expected to Post Earnings of $0.27 Per Share

Equities research analysts expect that OFG Bancorp (NYSE:OFG) will report earnings per share of $0.27 for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for OFG Bancorp’s earnings. OFG Bancorp posted earnings per share of $0.26 during the same quarter last year, which indicates a positive year-over-year growth rate of 3.8%. The business is scheduled to issue its next quarterly earnings report before the market opens on Friday, April 20th.

On average, analysts expect that OFG Bancorp will report full-year earnings of $1.08 per share for the current fiscal year. For the next financial year, analysts anticipate that the firm will post earnings of $1.10 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow OFG Bancorp.

OFG Bancorp (NYSE:OFG) last released its quarterly earnings results on Tuesday, January 30th. The bank reported $0.30 EPS for the quarter, beating the consensus estimate of $0.09 by $0.21. OFG Bancorp had a net margin of 12.41% and a return on equity of 9.61%. The firm had revenue of $90.33 million during the quarter, compared to the consensus estimate of $86.90 million. During the same quarter in the prior year, the firm earned $0.27 EPS.



Several analysts recently commented on the stock. Piper Jaffray reiterated a “hold” rating and issued a $12.00 price target on shares of OFG Bancorp in a research report on Tuesday, February 27th. ValuEngine upgraded shares of OFG Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $12.67.

OFG stock traded up $0.30 on Thursday, hitting $12.10. The company’s stock had a trading volume of 233,458 shares, compared to its average volume of 291,488. OFG Bancorp has a 1 year low of $7.80 and a 1 year high of $12.25. The company has a market cap of $503.20, a price-to-earnings ratio of 9.10 and a beta of 1.75. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.90 and a quick ratio of 0.90.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be given a dividend of $0.06 per share. The ex-dividend date is Wednesday, March 28th. This represents a $0.24 dividend on an annualized basis and a yield of 1.98%. OFG Bancorp’s payout ratio is currently 18.05%.

A number of institutional investors have recently made changes to their positions in the business. MetLife Investment Advisors LLC purchased a new position in OFG Bancorp during the 4th quarter worth $187,000. TIAA CREF Investment Management LLC raised its position in OFG Bancorp by 23.7% during the 4th quarter. TIAA CREF Investment Management LLC now owns 212,291 shares of the bank’s stock worth $1,996,000 after buying an additional 40,714 shares during the last quarter. Teachers Advisors LLC raised its position in OFG Bancorp by 40.1% during the 4th quarter. Teachers Advisors LLC now owns 144,820 shares of the bank’s stock worth $1,361,000 after buying an additional 41,487 shares during the last quarter. Two Sigma Investments LP purchased a new position in OFG Bancorp during the 4th quarter worth $1,763,000. Finally, Two Sigma Advisers LP raised its position in OFG Bancorp by 94.0% during the 4th quarter. Two Sigma Advisers LP now owns 72,441 shares of the bank’s stock worth $681,000 after buying an additional 35,100 shares during the last quarter. Institutional investors own 97.05% of the company’s stock.

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About OFG Bancorp

OFG Bancorp, a financial holding company, provides various banking and financial services. It operates in 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 products; and financial planning, investment brokerage, corporate and individual trust, and retirement services.

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