Piper Jaffray Companies Reiterates Hold Rating for OFG Bancorp (NYSE:OFG)
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.
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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.
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