OFG Bancorp (NYSE:OFG) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

OFG has been the topic of several other reports. Piper Jaffray Companies reissued a “hold” rating and set a $12.50 target price on shares of OFG Bancorp in a research note on Friday, July 21st. BidaskClub cut OFG Bancorp from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th.

Shares of OFG Bancorp (NYSE:OFG) traded up 10.34% during mid-day trading on Friday, hitting $9.60. 200,684 shares of the stock traded hands. The stock has a market cap of $421.89 million, a price-to-earnings ratio of 8.70 and a beta of 1.51. OFG Bancorp has a 52 week low of $8.70 and a 52 week high of $14.48. The firm’s 50-day moving average is $9.61 and its 200-day moving average is $10.69.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings data on Friday, July 21st. The bank reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.04. OFG Bancorp had a return on equity of 8.36% and a net margin of 14.58%. The firm had revenue of $100.45 million during the quarter, compared to the consensus estimate of $90.95 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. On average, analysts forecast that OFG Bancorp will post $1.12 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “OFG Bancorp (OFG) Downgraded to “Hold” at ValuEngine” was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this article on another publication, it was copied illegally and republished in violation of U.S. and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/09/02/ofg-bancorp-ofg-downgraded-to-hold-at-valuengine.html.

Institutional investors have recently bought and sold shares of the stock. Virtu KCG Holdings LLC acquired a new position in OFG Bancorp during the second quarter valued at about $117,000. Mason Street Advisors LLC boosted 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 period. Brandes Investment Partners LP acquired a new position in OFG Bancorp during the first quarter valued at about $124,000. Dynamic Technology Lab Private Ltd acquired a new position in OFG Bancorp during the second quarter valued at about $127,000. Finally, BNP Paribas Arbitrage SA boosted its position in OFG Bancorp by 53.8% in the second quarter. BNP Paribas Arbitrage SA now owns 13,649 shares of the bank’s stock valued at $136,000 after buying an additional 4,775 shares during the period. 97.19% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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.