OFG Bancorp (NYSE:OFG)‘s stock had its “hold” rating reaffirmed by stock analysts at Piper Jaffray Companies in a research note issued on Friday. They presently have a $12.50 price objective on the bank’s stock. Piper Jaffray Companies’ target price suggests a potential upside of 24.38% from the stock’s current price.

Several other research firms have also issued reports on OFG. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $14.00 target price on shares of OFG Bancorp in a report on Thursday, April 13th. ValuEngine lowered shares of OFG Bancorp from a “strong-buy” rating to a “buy” rating in a report on Monday. Finally, BidaskClub lowered shares of OFG Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. OFG Bancorp presently has an average rating of “Hold” and an average price target of $12.83.

OFG Bancorp (NYSE:OFG) traded up 2.03% during trading on Friday, hitting $10.05. 517,587 shares of the stock were exchanged. The firm has a market capitalization of $441.67 million, a price-to-earnings ratio of 9.54 and a beta of 1.48. The company has a 50-day moving average price of $9.91 and a 200 day moving average price of $11.46. OFG Bancorp has a 1-year low of $9.05 and a 1-year high of $14.48.

OFG Bancorp (NYSE:OFG) last released its earnings results on Friday, July 21st. The bank reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.03. OFG Bancorp had a net margin of 14.19% and a return on equity of 8.05%. During the same period last year, the business posted $0.25 earnings per share. Equities analysts predict that OFG Bancorp will post $1.09 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Piper Jaffray Companies Reiterates Hold Rating for OFG Bancorp (NYSE:OFG)” was reported by American Banking News and is owned by of American Banking News. If you are reading this article on another domain, it was stolen and reposted in violation of United States and international trademark & copyright laws. The correct version of this article can be read at https://www.americanbankingnews.com/2017/07/21/piper-jaffray-companies-reiterates-hold-rating-for-ofg-bancorp-nyseofg.html.

A number of hedge funds and other institutional investors have recently bought and sold shares of OFG. Mason Street Advisors LLC increased its position in OFG Bancorp by 7.0% in the first quarter. Mason Street Advisors LLC now owns 10,269 shares of the bank’s stock valued at $121,000 after buying an additional 673 shares during the last quarter. Brandes Investment Partners LP acquired a new position in OFG Bancorp during the first quarter valued at $124,000. Fox Run Management L.L.C. acquired a new position in OFG Bancorp during the second quarter valued at $150,000. Neuberger Berman Group LLC increased its position in OFG Bancorp by 0.9% in the first quarter. Neuberger Berman Group LLC now owns 13,470 shares of the bank’s stock valued at $159,000 after buying an additional 126 shares during the last quarter. Finally, Acrospire Investment Management LLC increased its position in OFG Bancorp by 11.1% in the first quarter. Acrospire Investment Management LLC now owns 14,292 shares of the bank’s stock valued at $169,000 after buying an additional 1,429 shares during the last quarter. Institutional investors and hedge funds own 99.48% of the company’s stock.

About OFG Bancorp

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.

Receive News & Ratings for OFG Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OFG Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.