OFG Bancorp (OFG) Given Consensus Rating of “Buy” by Brokerages

Shares of OFG Bancorp (NYSE:OFG) have been given a consensus rating of “Buy” by the six research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $13.50.

A number of brokerages recently commented on OFG. Zacks Investment Research upgraded OFG Bancorp from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Thursday, May 17th. ValuEngine lowered OFG Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $14.00 price objective on shares of OFG Bancorp in a research report on Monday, April 23rd. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $12.00 price objective on shares of OFG Bancorp in a research report on Tuesday, February 27th.

A number of hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its position in OFG Bancorp by 2.4% in the first quarter. Principal Financial Group Inc. now owns 336,846 shares of the bank’s stock worth $3,520,000 after purchasing an additional 7,990 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in OFG Bancorp by 36.2% in the first quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 53,000 shares of the bank’s stock worth $554,000 after purchasing an additional 14,100 shares during the period. Millennium Management LLC acquired a new stake in OFG Bancorp in the first quarter worth about $303,000. Element Capital Management LLC acquired a new stake in OFG Bancorp in the first quarter worth about $582,000. Finally, Barclays PLC boosted its holdings in OFG Bancorp by 417.0% during the first quarter. Barclays PLC now owns 41,269 shares of the bank’s stock worth $431,000 after buying an additional 33,286 shares during the last quarter. Hedge funds and other institutional investors own 97.43% of the company’s stock.



Shares of NYSE:OFG traded up $0.10 during midday trading on Thursday, reaching $14.40. The company’s stock had a trading volume of 10,140 shares, compared to its average volume of 319,462. OFG Bancorp has a fifty-two week low of $7.80 and a fifty-two week high of $14.70. The firm has a market cap of $626.25 million, a PE ratio of 10.90 and a beta of 1.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.87 and a current ratio of 0.87.

OFG Bancorp (NYSE:OFG) last announced its earnings results on Friday, April 20th. The bank reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.09. The company had revenue of $92.51 million during the quarter. OFG Bancorp had a return on equity of 9.80% and a net margin of 12.93%. analysts anticipate that OFG Bancorp will post 1.12 EPS for the current fiscal year.

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; and financial planning, investment brokerage, corporate and individual trust, and retirement services.

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