OFG Bancorp (OFG) to Release Earnings on Wednesday

OFG Bancorp (NYSE:OFG - Get Free Report) will likely be issuing its quarterly earnings data before the market opens on Wednesday, April 23rd. Analysts expect the company to announce earnings of $1.02 per share and revenue of $175.35 million for the quarter. Parties that wish to listen to the company's conference call can do so using this link.

OFG Bancorp (NYSE:OFG - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.12. OFG Bancorp had a net margin of 22.71% and a return on equity of 15.80%. During the same quarter in the prior year, the company earned $0.98 EPS. On average, analysts expect OFG Bancorp to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

OFG Bancorp Price Performance

Shares of OFG stock traded up $0.30 during mid-day trading on Friday, reaching $35.72. The company's stock had a trading volume of 502,477 shares, compared to its average volume of 298,891. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.85. The firm's 50-day moving average is $39.49 and its two-hundred day moving average is $41.83. OFG Bancorp has a 1-year low of $33.15 and a 1-year high of $47.66. The company has a market cap of $1.62 billion, a P/E ratio of 8.46 and a beta of 0.74.

OFG Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.30 per share. This is a boost from OFG Bancorp's previous quarterly dividend of $0.25. The ex-dividend date was Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a yield of 3.36%. OFG Bancorp's dividend payout ratio (DPR) is currently 28.44%.

Analysts Set New Price Targets

OFG has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their target price on OFG Bancorp from $53.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Wells Fargo & Company downgraded shares of OFG Bancorp from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $48.00 to $42.00 in a research note on Wednesday, April 9th.

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.