OFG Bancorp (OFG) Releases Earnings Results, Misses Expectations By $-0.01 EPS

OFG Bancorp (OFG) reported quarterly earnings results on Friday, Apr-22-2016. The company reported $0.24 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $0.25. Analysts expectations of $92.50 million. During the same quarter in the previous year, the company posted $0.21 EPS.

Many Wall Street Analysts have commented on OFG Bancorp. Piper Jaffray Initiated OFG Bancorp on Apr 8, 2016 to “Neutral”, Price Target of the shares are set at $7.50.

OFG Bancorp opened for trading at $7.65 and hit $7.94 on the upside on Wednesday, eventually ending the session at $7.84, with a gain of 1.55% or 0.12 points. The heightened volatility saw the trading volume jump to 4,12,907 shares. Company has a market cap of $344 M.

In a different news, on Apr 4, 2016, Rafael Martinez (director) purchased 7,000 shares at $6.99 per share price. According to the SEC, on Mar 22, 2016, Radames Pena (director) sold 798 shares at $18.25 per share price. On Feb 12, 2016, Ganesh Kumar (CFO) purchased 5,000 shares at $4.94 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.

OFG Bancorp

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