OFG Bancorp (NYSE:OFG) Issues Earnings Results, Beats Estimates By $0.25 EPS

OFG Bancorp (NYSE:OFG) released its earnings results on Tuesday. The bank reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate 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%.

Shares of NYSE:OFG traded down $0.67 on Thursday, reaching $21.53. 2,185 shares of the company 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 52 week low of $11.97 and a 52 week high of $25.52. The stock has a market capitalization of $1.11 billion, a PE ratio of 11.64 and a beta of 1.53. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.00 and a quick ratio of 1.00.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 15th. Stockholders of record on Wednesday, June 30th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, June 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.49%. OFG Bancorp’s dividend payout ratio (DPR) is currently 21.77%.

Separately, Zacks Investment Research raised OFG Bancorp from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note 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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