OFG Bancorp Announces Quarterly Dividend of $0.25 (NYSE:OFG)

OFG Bancorp (NYSE:OFG) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Stockholders of record on Friday, June 28th will be paid 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 increased its dividend by an average of 46.5% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. OFG Bancorp has a dividend payout ratio of 25.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Down 0.7 %

Shares of OFG Bancorp stock traded down $0.26 on Friday, hitting $37.88. The company had a trading volume of 16,360 shares, compared to its average volume of 233,540. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 9.75 and a beta of 1.08. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a 50 day moving average of $36.04 and a 200-day moving average of $35.34. OFG Bancorp has a 1 year low of $23.11 and a 1 year high of $39.04.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings data on Thursday, April 18th. The bank reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.10. The firm had revenue of $213.49 million during the quarter, compared to the consensus estimate of $175.20 million. OFG Bancorp had a return on equity of 16.10% and a net margin of 23.00%. During the same quarter in the prior year, the company earned $0.96 EPS. As a group, sell-side analysts forecast that OFG Bancorp will post 4.02 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Wells Fargo & Company decreased their target price on OFG Bancorp from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th.

Insider Activity at OFG Bancorp

In other news, insider Ganesh Kumar sold 9,697 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $36.40, for a total value of $352,970.80. Following the completion of the transaction, the insider now directly owns 134,805 shares of the company’s stock, valued at $4,906,902. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have sold 61,305 shares of company stock worth $2,255,071. 2.16% of the stock is owned by corporate 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.