OFG Bancorp (NYSE:OFG)‘s stock had its “hold” rating restated by equities research analysts at Piper Jaffray Companies in a research note issued on Tuesday. They currently have a $12.00 price objective on the bank’s stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 11.63% from the stock’s previous close.
OFG has been the subject of several other reports. Sandler O’Neill raised OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Monday, October 30th. ValuEngine raised OFG Bancorp from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Keefe, Bruyette & Woods raised OFG Bancorp from a “market perform” rating to an “outperform” rating in a report on Tuesday, November 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $12.67.
OFG Bancorp (NYSE:OFG) opened at $10.75 on Tuesday. The company has a market capitalization of $496.61, a P/E ratio of 12.50 and a beta of 1.79. OFG Bancorp has a fifty-two week low of $7.80 and a fifty-two week high of $13.60. The company has a current ratio of 0.92, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in OFG Bancorp by 1.7% in the 4th quarter. BlackRock Inc. now owns 5,765,959 shares of the bank’s stock worth $54,200,000 after buying an additional 95,632 shares in the last quarter. Vanguard Group Inc. grew its holdings in OFG Bancorp by 5.7% in the 2nd quarter. Vanguard Group Inc. now owns 5,058,799 shares of the bank’s stock worth $50,588,000 after buying an additional 271,986 shares in the last quarter. Stilwell Value LLC grew its holdings in OFG Bancorp by 9.1% in the 4th quarter. Stilwell Value LLC now owns 1,614,868 shares of the bank’s stock worth $15,180,000 after buying an additional 135,343 shares in the last quarter. LSV Asset Management grew its holdings in OFG Bancorp by 1.4% in the 4th quarter. LSV Asset Management now owns 1,342,806 shares of the bank’s stock worth $12,622,000 after buying an additional 18,100 shares in the last quarter. Finally, Snow Capital Management LP grew its holdings in OFG Bancorp by 2.0% in the 4th quarter. Snow Capital Management LP now owns 1,167,366 shares of the bank’s stock worth $10,973,000 after buying an additional 22,743 shares in the last quarter. 98.06% of the stock is owned by institutional investors and hedge funds.
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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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