OFG Bancorp (NYSE:OFG) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Wednesday, July 19th.
OFG has been the topic of a number of other research reports. ValuEngine lowered OFG Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $14.00 price target on shares of OFG Bancorp in a research report on Thursday, April 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $12.83.
OFG Bancorp (OFG) opened at 10.20 on Wednesday. OFG Bancorp has a 52-week low of $9.05 and a 52-week high of $14.48. The company has a 50-day moving average of $10.06 and a 200-day moving average of $11.35. The stock has a market capitalization of $448.25 million, a price-to-earnings ratio of 9.24 and a beta of 1.48.
OFG Bancorp (NYSE:OFG) last announced its earnings results on Friday, July 21st. The bank reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.04. The company had revenue of $100.45 million for the quarter, compared to analyst estimates of $90.95 million. OFG Bancorp had a return on equity of 8.36% and a net margin of 14.58%. During the same quarter last year, the company earned $0.25 earnings per share. Equities research analysts expect that OFG Bancorp will post $1.13 EPS for the current year.
Several large investors have recently modified their holdings of OFG. New York State Teachers Retirement System boosted its position in shares of OFG Bancorp by 0.3% in the fourth quarter. New York State Teachers Retirement System now owns 32,564 shares of the bank’s stock worth $427,000 after buying an additional 100 shares during the last quarter. Neuberger Berman Group LLC boosted its position in shares of OFG Bancorp by 0.9% in the first quarter. Neuberger Berman Group LLC now owns 13,470 shares of the bank’s stock worth $159,000 after buying an additional 126 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of OFG Bancorp by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 17,900 shares of the bank’s stock worth $211,000 after buying an additional 200 shares during the last quarter. Arizona State Retirement System raised its position in shares of OFG Bancorp by 0.9% in the first quarter. Arizona State Retirement System now owns 22,844 shares of the bank’s stock valued at $270,000 after buying an additional 200 shares in the last quarter. Finally, Texas Permanent School Fund raised its position in shares of OFG Bancorp by 0.9% in the second quarter. Texas Permanent School Fund now owns 32,086 shares of the bank’s stock valued at $321,000 after buying an additional 291 shares in the last quarter. 99.44% of the stock is currently owned by hedge funds and other institutional investors.
OFG Bancorp Company Profile
OFG Bancorp is a financial holding company. The Company is engaged in providing banking and financial services through its subsidiaries. The Company operates through three segments: Banking, Wealth Management and Treasury. 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.
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