OFG Bancorp (NYSE:OFG) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $11.25 and last traded at $11.11, with a volume of 87,903 shares changing hands. The stock had previously closed at $10.98.

A number of research analysts have recently commented on the company. Zacks Investment Research upgraded OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Saturday, August 6th. Keefe, Bruyette & Woods increased their target price on OFG Bancorp from $10.00 to $11.00 and gave the company a “market perform” rating in a research report on Monday, July 25th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $10.85.

The firm has a market capitalization of $479.53 million and a price-to-earnings ratio of 26.25. The firm has a 50 day moving average of $10.18 and a 200-day moving average of $8.18.

OFG Bancorp (NYSE:OFG) last issued its earnings results on Friday, July 22nd. The company reported $0.25 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. During the same period in the previous year, the firm earned ($0.15) earnings per share. Analysts predict that OFG Bancorp will post $0.99 EPS for the current year.

An institutional investor recently raised its position in OFG Bancorp stock. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of OFG Bancorp (NYSE:OFG) by 50.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 155,375 shares of the company’s stock after buying an additional 51,775 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.35% of OFG Bancorp worth $1,137,000 at the end of the most recent quarter.

OFG Bancorp is a financial holding company. The Company is engaged in providing banking and financial services through its subsidiaries. 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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