OFG Bancorp (NYSE:OFG) Announces Quarterly Earnings Results

OFG Bancorp (NYSE:OFG) announced its quarterly earnings results on Tuesday. The bank reported $0.78 EPS for the quarter, topping 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%.

OFG Bancorp stock traded down $0.41 during mid-day trading on Thursday, reaching $21.79. 1,612 shares of the company traded hands, compared to its average volume of 194,107. The company has a quick ratio of 1.00, a current 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 $1.13 billion, a P/E ratio of 11.64 and a beta of 1.53. The company has a fifty day moving average price of $23.10.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 15th. Investors of record on Wednesday, June 30th were given 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 yield of 1.47%. OFG Bancorp’s payout ratio is 21.77%.

Separately, Zacks Investment Research upgraded shares of OFG Bancorp from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report 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.

See Also: Economic Bubble

Earnings History for OFG Bancorp (NYSE:OFG)

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.