OFG Bancorp (NYSE:OFG – Get Free Report) announced a quarterly dividend on Monday, October 28th, RTT News reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.25 per share by the bank on Wednesday, January 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.49%.
OFG Bancorp has increased its dividend payment by an average of 46.5% annually over the last three years. OFG Bancorp has a payout ratio of 25.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect OFG Bancorp to earn $4.07 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 24.6%.
OFG Bancorp Trading Up 3.1 %
Shares of NYSE:OFG traded up $1.20 on Monday, hitting $40.17. 36,088 shares of the company’s stock were exchanged, compared to its average volume of 232,824. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.86 and a quick ratio of 0.86. The business’s 50 day simple moving average is $43.42 and its two-hundred day simple moving average is $40.26. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 9.97 and a beta of 0.98. OFG Bancorp has a 12 month low of $29.33 and a 12 month high of $47.57.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on OFG. Hovde Group lifted their price objective on OFG Bancorp from $44.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Wells Fargo & Company lifted their target price on OFG Bancorp from $40.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Finally, Piper Sandler cut their target price on OFG Bancorp from $49.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th.
View Our Latest Analysis on OFG
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.
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