Separately, Zacks Investment Research raised OFG Bancorp from a hold rating to a buy rating and set a $21.00 price target for the company in a report on Wednesday, April 24th. Four analysts have rated the stock with a buy rating, The stock currently has an average rating of Buy and a consensus target price of $19.33.
Shares of OFG stock opened at $20.62 on Tuesday. The stock has a market capitalization of $1.06 billion, a PE ratio of 13.57 and a beta of 1.44. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.15. OFG Bancorp has a 52-week low of $13.98 and a 52-week high of $22.21.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.28 dividend on an annualized basis and a yield of 1.36%. OFG Bancorp’s payout ratio is 18.42%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. acquired a new position in OFG Bancorp in the 1st quarter worth about $53,000. Advisor Group Inc. acquired a new position in OFG Bancorp in the 4th quarter worth about $84,000. Neuburgh Advisers LLC raised its holdings in OFG Bancorp by 15.6% in the 4th quarter. Neuburgh Advisers LLC now owns 5,328 shares of the bank’s stock worth $88,000 after purchasing an additional 720 shares during the period. Bank of Montreal Can raised its holdings in OFG Bancorp by 20.2% in the 4th quarter. Bank of Montreal Can now owns 6,202 shares of the bank’s stock worth $101,000 after purchasing an additional 1,042 shares during the period. Finally, Meeder Asset Management Inc. raised its holdings in OFG Bancorp by 23.3% in the 1st quarter. Meeder Asset Management Inc. now owns 6,626 shares of the bank’s stock worth $132,000 after purchasing an additional 1,253 shares during the period. 92.73% of the stock is owned by institutional investors.
OFG Bancorp Company Profile
OFG Bancorp, a financial holding company, provides various banking and financial services. It operates in 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 products; financial planning, insurance, financial services, and investment brokerage; and corporate and individual trust, and retirement services.
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