OFG Bancorp (OFG) Lowered to “Purchase” at ValuEngine

OFG Bancorp (OFG) Lowered to “Purchase” at ValuEngine

ValuEngine lowered shares of OFG Bancorp (NYSE:OFG) from a strong-buy rating to a buy rating in a report released on Friday.

Separately, Keefe, Bruyette & Woods restated a hold rating and set a $14.00 target price on shares of OFG Bancorp in a research note on Thursday, April 13th.

Shares of OFG Bancorp (NYSE OFG) traded up 1.351% during trading on Friday, reaching $9.375. 65,795 shares of the company traded hands. OFG Bancorp has a 52 week low of $7.60 and a 52 week high of $14.48. The company’s 50-day moving average price is $10.69 and its 200-day moving average price is $12.31. The company has a market capitalization of $412.00 million, a P/E ratio of 8.903 and a beta of 1.53.

OFG Bancorp (NYSE:OFG) last released its earnings results on Friday, April 21st. The bank reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. OFG Bancorp had a net margin of 13.98% and a return on equity of 8.00%. The company had revenue of $93.69 million for the quarter, compared to analysts’ expectations of $87.50 million. During the same quarter last year, the business earned $0.24 EPS. Equities research analysts forecast that OFG Bancorp will post $1.09 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Wednesday, June 28th. OFG Bancorp’s dividend payout ratio (DPR) is currently 23.53%.

In other OFG Bancorp news, Director Radames Pena sold 6,000 shares of the stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $23.72, for a total transaction of $142,320.00. Following the completion of the sale, the director now directly owns 41,052 shares of the company’s stock, valued at approximately $973,753.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.63% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Mason Street Advisors LLC raised its stake in shares of OFG Bancorp by 7.0% in the first quarter. Mason Street Advisors LLC now owns 10,269 shares of the bank’s stock worth $121,000 after buying an additional 673 shares during the period. Brandes Investment Partners LP bought a new stake in shares of OFG Bancorp during the first quarter worth about $124,000. ARP Americas LLC bought a new stake in shares of OFG Bancorp during the fourth quarter worth about $153,000. Neuberger Berman Group LLC raised its stake in shares of OFG Bancorp by 0.9% in the first quarter. Neuberger Berman Group LLC now owns 13,470 shares of the bank’s stock worth $159,000 after buying an additional 126 shares during the period. Finally, Acrospire Investment Management LLC raised its stake in shares of OFG Bancorp by 11.1% in the first quarter. Acrospire Investment Management LLC now owns 14,292 shares of the bank’s stock worth $169,000 after buying an additional 1,429 shares during the period. 97.46% of the stock is owned by institutional investors and hedge funds.

OFG Bancorp Company Profile

OFG Bancorp is a financial holding company. The Company is engaged in providing banking and financial services through its subsidiaries. The Company operates through three segments: Banking, Wealth Management and Treasury. The Company provides banking and financial services to its clients through a range of banking and financial solutions, including commercial, consumer, auto, and mortgage lending; checking and savings accounts; financial planning, insurance, financial service, and investment brokerage, and corporate and individual trust and retirement services.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “OFG”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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