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.

OFG Bancorp (NYSE:OFG) last released its quarterly earnings data on Wednesday, October 25th. The bank reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.12. The firm had revenue of $98.39 million during the quarter, compared to the consensus estimate of $90.60 million. OFG Bancorp had a return on equity of 9.05% and a net margin of 11.92%. During the same quarter in the previous year, the company posted $0.14 earnings per share. equities research analysts expect that OFG Bancorp will post 1.12 EPS for the current fiscal year.

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.

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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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