OFG Bancorp (OFG) Sets New 12-Month High at $11.25
OFG Bancorp (NYSE:OFG)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $11.25 and last traded at $11.11, with a volume of 87,903 shares trading hands. The stock had previously closed at $10.98.
Several equities analysts recently issued reports on the company. Zacks Investment Research raised OFG Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Saturday, August 6th. Keefe, Bruyette & Woods upped their price objective 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. Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $9.50 price objective (up from $7.50) on shares of OFG Bancorp in a research report on Tuesday, April 26th. Finally, Merion Capital Group upped their price objective on OFG Bancorp from $6.75 to $9.75 and gave the company an “outperform” rating in a research report on Monday, April 25th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. OFG Bancorp presently has a consensus rating of “Buy” and a consensus target price of $10.85.
The company has a 50 day moving average of $10.08 and a 200-day moving average of $8.12. The company has a market capitalization of $481.29 million and a PE ratio of 26.35.
OFG Bancorp (NYSE:OFG) last issued its quarterly earnings data 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 quarter in the previous year, the business earned ($0.15) EPS. Equities research analysts anticipate that OFG Bancorp will post $0.99 earnings per share for the current fiscal year.
An institutional investor recently raised its position in OFG Bancorp stock. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of OFG Bancorp (NYSE:OFG) by 50.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 0.35% of OFG Bancorp worth $1,137,000 at the end of the most recent reporting period.
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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