Analysts Set OFG Bancorp (NYSE:OFG) Target Price at $47.50

OFG Bancorp (NYSE:OFG) has been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $47.50.

Several research firms have recently commented on OFG. Keefe, Bruyette & Woods raised their target price on shares of OFG Bancorp from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, July 18th. Wells Fargo & Company raised their target price on shares of OFG Bancorp from $42.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OFG Bancorp in a research report on Saturday, September 27th. Finally, Wall Street Zen raised shares of OFG Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, July 20th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of OFG. Vest Financial LLC purchased a new position in OFG Bancorp during the 1st quarter valued at about $3,093,000. Wedge Capital Management L L P NC lifted its position in OFG Bancorp by 18.5% during the 1st quarter. Wedge Capital Management L L P NC now owns 26,015 shares of the bank’s stock valued at $1,041,000 after acquiring an additional 4,056 shares during the period. Range Financial Group LLC lifted its position in OFG Bancorp by 4.2% during the 1st quarter. Range Financial Group LLC now owns 44,191 shares of the bank’s stock valued at $1,769,000 after acquiring an additional 1,776 shares during the period. SG Americas Securities LLC lifted its position in OFG Bancorp by 182.9% during the 1st quarter. SG Americas Securities LLC now owns 30,590 shares of the bank’s stock valued at $1,224,000 after acquiring an additional 19,777 shares during the period. Finally, SummerHaven Investment Management LLC lifted its position in OFG Bancorp by 1.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 20,507 shares of the bank’s stock valued at $821,000 after acquiring an additional 337 shares during the period. 92.73% of the stock is owned by hedge funds and other institutional investors.

OFG Bancorp Price Performance

Shares of OFG Bancorp stock opened at $42.71 on Friday. The firm has a market cap of $1.90 billion, a PE ratio of 10.07 and a beta of 0.80. OFG Bancorp has a 12-month low of $33.15 and a 12-month high of $47.66. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.34. The company’s fifty day simple moving average is $43.62 and its two-hundred day simple moving average is $41.83.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings results on Thursday, July 17th. The bank reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.10. The business had revenue of $182.20 million for the quarter, compared to analyst estimates of $181.50 million. OFG Bancorp had a net margin of 22.06% and a return on equity of 14.97%. The company’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.08 EPS. As a group, equities analysts expect that OFG Bancorp will post 4.18 EPS for the current year.

OFG Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 30th. OFG Bancorp’s dividend payout ratio (DPR) is 28.30%.

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, 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.