OFG Bancorp (OFG) Reaches New 12-Month High and Low at $14.55

OFG Bancorp (NYSE:OFG) reached a new 52-week high and low during trading on Friday . The stock traded as low as $14.55 and last traded at $14.30, with a volume of 7557 shares trading hands. The stock had previously closed at $14.25.

Several research firms have recently commented on OFG. Zacks Investment Research raised shares of OFG Bancorp from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Thursday. ValuEngine lowered shares of OFG Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $14.00 price target on shares of OFG Bancorp in a research report on Monday, April 23rd. Finally, Piper Jaffray reaffirmed a “hold” rating and set a $12.00 price target on shares of OFG Bancorp in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $13.50.

The stock has a market cap of $628.45 million, a P/E ratio of 10.71 and a beta of 1.70. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.10.

OFG Bancorp (NYSE:OFG) last released its earnings results on Friday, April 20th. The bank reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.09. The company had revenue of $92.51 million during the quarter. OFG Bancorp had a net margin of 12.93% and a return on equity of 9.80%. analysts predict that OFG Bancorp will post 1.12 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in OFG. X Square Capital LLC purchased a new stake in OFG Bancorp in the 4th quarter worth approximately $4,894,000. Mackay Shields LLC purchased a new stake in OFG Bancorp in the 1st quarter worth approximately $3,794,000. Bowling Portfolio Management LLC purchased a new stake in OFG Bancorp in the 4th quarter worth approximately $2,094,000. Russell Investments Group Ltd. increased its holdings in OFG Bancorp by 22.8% in the 1st quarter. Russell Investments Group Ltd. now owns 1,156,996 shares of the bank’s stock worth $12,091,000 after acquiring an additional 214,935 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in OFG Bancorp by 719.5% in the 1st quarter. Wells Fargo & Company MN now owns 217,975 shares of the bank’s stock worth $2,278,000 after acquiring an additional 191,376 shares in the last quarter. 97.58% of the stock is owned by institutional investors.

About OFG Bancorp

OFG Bancorp, a financial holding company, provides various banking and financial services. It operates in three segments: Banking, Wealth Management, and Treasury. The company offers checking and savings accounts, as well as time deposit products; commercial, consumer, auto, and mortgage lending products; and financial planning, investment brokerage, corporate and individual trust, and retirement services.

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