OFG Bancorp (NYSE:OFG) Hits New 52-Week High After Analyst Upgrade

Shares of OFG Bancorp (NYSE:OFGGet Free Report) hit a new 52-week high during mid-day trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $40.00 to $41.00. Wells Fargo & Company currently has an overweight rating on the stock. OFG Bancorp traded as high as $38.54 and last traded at $38.51, with a volume of 249270 shares traded. The stock had previously closed at $38.11.

Separately, StockNews.com initiated coverage on OFG Bancorp in a report on Thursday, October 5th. They issued a “hold” rating on the stock.

View Our Latest Report on OFG

Insider Buying and Selling

In related news, Director Jesus Nestor De sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $36.94, for a total value of $110,820.00. Following the sale, the director now owns 17,890 shares in the company, valued at approximately $660,856.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Jesus Nestor De sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $36.94, for a total value of $110,820.00. Following the sale, the director now owns 17,890 shares in the company, valued at approximately $660,856.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ganesh Kumar sold 5,689 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $38.00, for a total value of $216,182.00. Following the completion of the sale, the insider now owns 125,010 shares in the company, valued at approximately $4,750,380. The disclosure for this sale can be found here. Insiders have sold a total of 10,992 shares of company stock worth $409,588 in the last quarter. Company insiders own 3.11% of the company’s stock.

Institutional Investors Weigh In On OFG Bancorp

A number of large investors have recently bought and sold shares of the stock. National Bank of Canada FI grew its holdings in OFG Bancorp by 2.0% during the 2nd quarter. National Bank of Canada FI now owns 16,276 shares of the bank’s stock valued at $424,000 after buying an additional 326 shares during the last quarter. SG Americas Securities LLC grew its holdings in OFG Bancorp by 1.5% during the 4th quarter. SG Americas Securities LLC now owns 22,002 shares of the bank’s stock valued at $825,000 after buying an additional 329 shares during the last quarter. Royal Bank of Canada grew its holdings in OFG Bancorp by 0.6% during the 3rd quarter. Royal Bank of Canada now owns 73,403 shares of the bank’s stock valued at $1,845,000 after buying an additional 402 shares during the last quarter. Natixis Advisors L.P. grew its holdings in OFG Bancorp by 1.7% during the 1st quarter. Natixis Advisors L.P. now owns 27,562 shares of the bank’s stock valued at $734,000 after buying an additional 465 shares during the last quarter. Finally, Swiss National Bank grew its holdings in OFG Bancorp by 0.6% during the 3rd quarter. Swiss National Bank now owns 104,400 shares of the bank’s stock valued at $3,117,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 91.61% of the company’s stock.

OFG Bancorp Trading Down 4.5 %

The business has a fifty day simple moving average of $36.16 and a 200 day simple moving average of $32.80. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 9.63 and a beta of 1.14. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.88 and a current ratio of 0.86.

OFG Bancorp (NYSE:OFGGet Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The bank reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.05. OFG Bancorp had a return on equity of 16.25% and a net margin of 23.62%. The business had revenue of $208.26 million for the quarter, compared to analysts’ expectations of $172.50 million. During the same quarter last year, the firm earned $0.97 earnings per share. As a group, equities analysts anticipate that OFG Bancorp will post 3.73 EPS for the current year.

OFG Bancorp Company Profile

(Get Free Report)

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, as well as time deposit products; commercial, consumer, auto leasing, and mortgage lending services; financial planning and insurance services; and corporate and individual trust, and retirement services.

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