OFG Bancorp (NYSE:OFG) declared a quarterly dividend on Wednesday, July 29th, Zacks reports. Shareholders of record on Wednesday, September 30th will be given a dividend of 0.07 per share by the bank on Thursday, October 15th. This represents a $0.28 annualized dividend and a yield of 2.18%. The ex-dividend date is Tuesday, September 29th.
OFG Bancorp has raised its dividend payment by an average of 16.7% per year over the last three years and has increased its dividend every year for the last 2 years. OFG Bancorp has a payout ratio of 31.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect OFG Bancorp to earn $1.94 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 14.4%.
NYSE:OFG traded down $0.54 on Friday, hitting $12.84. The stock had a trading volume of 2,353 shares, compared to its average volume of 294,583. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.15. The stock has a market cap of $703.41 million, a price-to-earnings ratio of 29.09 and a beta of 1.66. The company has a fifty day moving average price of $12.95 and a two-hundred day moving average price of $14.50. OFG Bancorp has a 1-year low of $8.63 and a 1-year high of $23.76.
OFG has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of OFG Bancorp from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Tuesday, July 7th. ValuEngine raised shares of OFG Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, April 30th.
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; financial planning, insurance, financial services, and investment brokerage; and corporate and individual trust, and retirement services.
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