OFG Bancorp (OFG) Earns Hold Rating from Piper Jaffray Companies

OFG Bancorp (NYSE:OFG)‘s stock had its “hold” rating restated by investment analysts at Piper Jaffray Companies in a research note issued on Friday. They presently have a $11.00 price target on the bank’s stock. Piper Jaffray Companies’ price target indicates a potential upside of 19.57% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on OFG. ValuEngine downgraded OFG Bancorp from a “strong-buy” rating to a “buy” rating in a report on Monday, July 17th. BidaskClub downgraded OFG Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th.

OFG Bancorp (NYSE OFG) opened at 9.20 on Friday. The firm has a 50-day moving average price of $8.87 and a 200 day moving average price of $9.79. OFG Bancorp has a 12 month low of $8.10 and a 12 month high of $14.48. The company has a market cap of $404.31 million, a P/E ratio of 8.33 and a beta of 1.52.

OFG Bancorp (NYSE:OFG) last issued its earnings results on Wednesday, October 25th. The bank reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.12. The firm had revenue of $98.39 million for 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 last year, the business posted $0.14 EPS. On average, equities analysts expect that OFG Bancorp will post $1.12 earnings per share for the current year.

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Several institutional investors and hedge funds have recently made changes to their positions in the company. First Manhattan Co. lifted its stake in shares of OFG Bancorp by 25.0% in the 3rd quarter. First Manhattan Co. now owns 50,000 shares of the bank’s stock valued at $457,000 after acquiring an additional 10,000 shares during the last quarter. Strs Ohio lifted its stake in shares of OFG Bancorp by 9.2% in the 3rd quarter. Strs Ohio now owns 76,800 shares of the bank’s stock valued at $702,000 after acquiring an additional 6,500 shares during the last quarter. Stilwell Value LLC lifted its stake in shares of OFG Bancorp by 961.5% in the 2nd quarter. Stilwell Value LLC now owns 13,289,640 shares of the bank’s stock valued at $13,290,000 after acquiring an additional 12,037,639 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of OFG Bancorp in the 2nd quarter valued at $127,000. Finally, Schneider Capital Management Corp lifted its stake in shares of OFG Bancorp by 63.9% in the 2nd quarter. Schneider Capital Management Corp now owns 453,706 shares of the bank’s stock valued at $4,537,000 after acquiring an additional 176,958 shares during the last quarter. Institutional investors own 96.86% 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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