OFG Bancorp (NYSE:OFG) Releases Earnings Results, Beats Expectations By $0.25 EPS

OFG Bancorp (NYSE:OFG) announced its earnings results on Tuesday. The bank reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.25, MarketWatch Earnings reports. OFG Bancorp had a net margin of 17.74% and a return on equity of 11.25%.

NYSE:OFG traded down $0.58 during trading hours on Thursday, hitting $21.62. 5,234 shares of the stock traded hands, compared to its average volume of 194,107. The business’s 50 day simple moving average is $23.10. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.10. OFG Bancorp has a fifty-two week low of $11.97 and a fifty-two week high of $25.52. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 11.64 and a beta of 1.53.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 15th. Shareholders of record on Wednesday, June 30th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Tuesday, June 29th. OFG Bancorp’s dividend payout ratio (DPR) is currently 21.77%.

Separately, Zacks Investment Research raised shares of 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.

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, 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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