Brokerages Set OFG Bancorp (NYSE:OFG) Target Price at $47.17

OFG Bancorp (NYSE:OFG) has earned an average rating of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $47.1667.

A number of brokerages have issued reports on OFG. Truist Financial cut their target price on OFG Bancorp from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Wall Street Zen upgraded OFG Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, July 20th. Zacks Research upgraded OFG Bancorp to a “hold” rating in a research note on Friday, October 10th. Keefe, Bruyette & Woods cut their price target on OFG Bancorp from $51.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, October 23rd. Finally, Wells Fargo & Company cut their price target on OFG Bancorp from $48.00 to $43.00 and set an “equal weight” rating on the stock in a report on Monday.

OFG Bancorp Stock Down 0.4%

Shares of NYSE OFG opened at $38.30 on Tuesday. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 8.71 and a beta of 0.80. The company has a quick ratio of 0.87, a current ratio of 0.85 and a debt-to-equity ratio of 0.33. OFG Bancorp has a 52-week low of $33.15 and a 52-week high of $47.66. The business’s 50 day moving average is $43.01 and its two-hundred day moving average is $42.21.

OFG Bancorp (NYSE:OFG) last announced its earnings results on Wednesday, October 22nd. The bank reported $1.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.16. The company had revenue of $184.00 million for the quarter, compared to analyst estimates of $186.71 million. OFG Bancorp had a return on equity of 15.18% and a net margin of 22.26%.The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.00 earnings per share. Research analysts predict that OFG Bancorp will post 4.18 EPS for the current year.

Institutional Investors Weigh In On OFG Bancorp

Large investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC purchased a new stake in OFG Bancorp during the 3rd quarter worth about $53,000. EverSource Wealth Advisors LLC grew its stake in shares of OFG Bancorp by 250.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,533 shares of the bank’s stock worth $66,000 after purchasing an additional 1,095 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of OFG Bancorp during the second quarter worth $97,000. Quarry LP grew its stake in shares of OFG Bancorp by 458.9% during the first quarter. Quarry LP now owns 2,666 shares of the bank’s stock worth $107,000 after purchasing an additional 2,189 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of OFG Bancorp during the second quarter worth $162,000. Hedge funds and other institutional investors own 92.73% of the company’s stock.

OFG Bancorp Company Profile

OFG Bancorp, a financial holding company, provides a range of banking and financial services. It operates through three segments: Banking, Wealth Management, and Treasury. The company offers checking and savings accounts, and individual retirement accounts; certificate of deposits, as well as time deposit products; commercial, consumer, auto leasing, and mortgage lending services; credit cards; cash management; financial planning and insurance services; and corporate and individual trust, and retirement services.