Revenue Update on OFG Bancorp(NYSE:OFG)

OFG Bancorp(NYSE:OFG) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 22, 2016. Company reported revenue of $73.31M. Analysts estimated a revenue of $83.41M. Earnings per share were $0.25. Analysts had estimated an EPS of $0.25.

In a different note, On Apr 25, 2016, Merion Capital Group said it Maintains its rating on OFG Bancorp. In the research note, the firm Raises the price-target to $6.75 per share. The shares have been rated ‘Outperform’ by the firm.

OFG Bancorp (OFG) shares turned negative on Thursdays trading session with the shares closing down -0.09 points or -0.84% at a volume of 6,10,502. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $10.83. The peak price level was also seen at $10.83 while the days lowest was $10.62. Finally the shares closed at $10.66. The 52-week high of the shares is $11.1199 while the 52-week low is $4.56. According to the latest information available, the market cap of the company is $468 M.

Several Insider Transactions has been reported to the SEC. On May 12, 2016, Ganesh Kumar (CFO & EVP) sold 1,000 shares at $18.75 per share price.Also, On Apr 29, 2016, Radames Pena (director) sold 1,900 shares at $19.05 per share price.On Apr 4, 2016, Rafael Martinez (director) purchased 7,000 shares at $6.99 per share price, according to the Form-4 filing with the securities and exchange commission.

OFG Bancorp is a financial holding company. The Company is engaged in providing banking and financial services through its subsidiaries. The Company provides banking and financial services to its clients through a range of banking and financial solutions including commercial consumer auto and mortgage lending; checking and savings accounts; financial planning insurance financial service and investment brokerage and corporate and individual trust and retirement services. The Company operates through three segments: Banking Wealth Management and Treasury. The Company provides these services through various subsidiaries including a commercial bank Oriental Bank a securities broker-dealer Oriental Financial Services Corp. (Oriental Financial Services) an insurance agency Oriental Insurance Inc. (Oriental Insurance) and a retirement plan administrator Caribbean Pension Consultants Inc. (CPC). The Company has 53 branches in Puerto Rico.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

OFG Bancorp - Is it time to Sell?

Top Brokerage Firms are advising their investors on OFG Bancorp. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.