OFG Bancorp (NYSE:OFG) was upgraded by equities research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a note issued to investors on Tuesday.
A number of other brokerages have also weighed in on OFG. ValuEngine upgraded OFG Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. 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 research note 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 research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $12.33.
Shares of OFG Bancorp (NYSE OFG) opened at $10.25 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.18. OFG Bancorp has a 12 month low of $7.80 and a 12 month high of $14.48. The stock has a market capitalization of $446.07, a PE ratio of 8.25 and a beta of 1.62.
In other OFG Bancorp news, Director Jesus Nestor De acquired 5,000 shares of the stock in a transaction on 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 purchase, the director now directly owns 5,400 shares in the company, valued at $42,930. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.56% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Arizona State Retirement System grew its position in shares of OFG Bancorp by 0.4% in the 2nd quarter. Arizona State Retirement System now owns 22,944 shares of the bank’s stock worth $229,000 after acquiring an additional 100 shares in the last quarter. Texas Permanent School Fund grew its position in shares of OFG Bancorp by 0.9% in the 2nd quarter. Texas Permanent School Fund now owns 32,086 shares of the bank’s stock worth $321,000 after acquiring an additional 291 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its position in shares of OFG Bancorp by 0.6% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 85,660 shares of the bank’s stock worth $857,000 after acquiring an additional 500 shares in the last quarter. Neuberger Berman Group LLC grew its position in shares of OFG Bancorp by 7.2% in the 2nd quarter. Neuberger Berman Group LLC now owns 14,436 shares of the bank’s stock worth $144,000 after acquiring an additional 966 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of OFG Bancorp by 4.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,499 shares of the bank’s stock worth $354,000 after acquiring an additional 1,641 shares in the last quarter. Hedge funds and other institutional investors own 96.63% 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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