OFG Bancorp (OFG) Stock Rating Upgraded by ValuEngine
OFG Bancorp (NYSE:OFG) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.
Several other equities research analysts also recently commented on the company. Keefe, Bruyette & Woods upgraded OFG Bancorp from a “market perform” rating to an “outperform” rating in a report on Tuesday. Sandler O’Neill upgraded OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Monday, October 30th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $11.00 price objective on shares of OFG Bancorp in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $12.33.
Shares of OFG Bancorp (NYSE OFG) traded down $0.05 on Friday, reaching $9.75. The company’s stock had a trading volume of 355,469 shares, compared to its average volume of 273,929. The firm has a market capitalization of $430.68, a price-to-earnings ratio of 7.97 and a beta of 1.65. OFG Bancorp has a 12-month low of $7.80 and a 12-month high of $14.48. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 0.91.
In other news, Director Jesus Nestor De acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was purchased at an average price of $7.95 per share, for a total transaction of $39,750.00. Following the completion of the acquisition, the director now directly owns 5,400 shares in the company, valued at approximately $42,930. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.56% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Everence Capital Management Inc. bought a new stake in OFG Bancorp during the third quarter worth $103,000. Virtu KCG Holdings LLC bought a new stake in OFG Bancorp during the second quarter worth $117,000. Dynamic Technology Lab Private Ltd bought a new stake in OFG Bancorp during the second quarter worth $127,000. BNP Paribas Arbitrage SA grew its holdings in OFG Bancorp by 53.8% during the second quarter. BNP Paribas Arbitrage SA now owns 13,649 shares of the bank’s stock worth $136,000 after buying an additional 4,775 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in OFG Bancorp during the third quarter worth $141,000. Institutional investors and hedge funds own 96.63% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This story was first published by American Banking News and is owned by of American Banking News. If you are reading this story on another website, it was stolen and reposted in violation of US and international copyright and trademark legislation. The legal version of this story can be read at https://www.americanbankingnews.com/2017/12/02/ofg-bancorp-ofg-stock-rating-upgraded-by-valuengine.html.
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.