OFG Bancorp (NYSE:OFG – Get Free Report) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.25 per share by the bank on Monday, July 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, June 28th.
OFG Bancorp has raised its dividend by an average of 46.5% annually over the last three years and has raised its dividend every year for the last 4 years. OFG Bancorp has a payout ratio of 25.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect OFG Bancorp to earn $3.95 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 25.3%.
OFG Bancorp Price Performance
NYSE OFG traded down $0.30 during trading hours on Friday, reaching $37.84. 10,216 shares of the stock traded hands, compared to its average volume of 233,457. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a 50 day simple moving average of $36.04 and a two-hundred day simple moving average of $35.34. OFG Bancorp has a 1 year low of $23.11 and a 1 year high of $39.04. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 9.75 and a beta of 1.08.
Analyst Upgrades and Downgrades
Separately, Wells Fargo & Company reduced their price target on OFG Bancorp from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th.
Read Our Latest Analysis on OFG Bancorp
Insider Buying and Selling at OFG Bancorp
In other OFG Bancorp news, insider Ganesh Kumar sold 9,697 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $36.40, for a total value of $352,970.80. Following the completion of the sale, the insider now directly owns 134,805 shares in the company, valued at $4,906,902. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 61,305 shares of company stock valued at $2,255,071. 2.16% of the stock is currently owned by company insiders.
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.
Further Reading
- Five stocks we like better than OFG Bancorp
- How to Buy Cheap Stocks Step by Step
- Unity Software’s Mixed Q1, But Long-Term Outlook Remains Positive
- Investing in Travel Stocks Benefits
- JFrog Stock Gets Punished for Solid Results: Buy the Dip
- How to Most Effectively Use the MarketBeat Earnings Screener
- Will the Surge in GameStop Stock Spark a New Meme Craze?
Receive News & Ratings for OFG Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OFG Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.