OFG Bancorp (OFG) Downgraded to “Hold” at ValuEngine
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.
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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.
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