The stock of OFG Bancorp (NYSE:OFG) is a huge mover today! The stock increased 3.37% or $0.33 during the last trading session, hitting $10.11. About 228,327 shares traded hands. OFG Bancorp (NYSE:OFG) has risen 67.75% since February 26, 2016 and is uptrending. It has outperformed by 57.33% the S&P500.
The move comes after 8 months positive chart setup for the $429.48 million company. It was reported on Oct, 1 by Barchart.com. We have $23.86 PT which if reached, will make NYSE:OFG worth $584.09 million more.
Analysts await OFG Bancorp (NYSE:OFG) to report earnings on October, 28. They expect $0.27 EPS, up 800.00% or $0.24 from last year’s $0.03 per share. OFG’s profit will be $11.47M for 9.36 P/E if the $0.27 EPS becomes a reality. After $0.25 actual EPS reported by OFG Bancorp for the previous quarter, Wall Street now forecasts 8.00% EPS growth.
OFG Bancorp (NYSE:OFG) Ratings Coverage
Out of 5 analysts covering Oriental Financial Group Inc (NYSE:OFG), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. Oriental Financial Group Inc has been the topic of 6 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The stock of OFG Bancorp (NYSE:OFG) has “Buy” rating given on Monday, July 27 by Guggenheim. The rating was initiated by Piper Jaffray with “Neutral” on Friday, April 8. The firm has “Outperform” rating by Merion Capital Group given on Monday, April 25.
According to Zacks Investment Research, “OFG Bancorp is a financial holding company that conducts its business activities through its subsidiaries, primarily in Puerto Rico. The company’s product and services consist of consumer banking and lending, commercial banking and wealth management. It offers residential mortgages, auto loans and leases, credit cards, business loans, commercial mortgages and leasing, cash management, transactional services, international trade financing, financial planning, money management, investment brokerage, corporate and individual trust, retirement products programs, and insurance. OFG Bancorp., formerly known as Oriental Financial Group Inc., is based in San Juan, Puerto Rico.”
Insitutional Activity: The institutional sentiment decreased to 0.96 in Q2 2016. Its down 0.53, from 1.49 in 2016Q1. The ratio turned negative, as 14 funds sold all OFG Bancorp shares owned while 41 reduced positions. 17 funds bought stakes while 36 increased positions. They now own 40.65 million shares or 6.32% less from 43.40 million shares in 2016Q1.
Moreover, Quantbot Lp has 0% invested in OFG Bancorp (NYSE:OFG) for 2,455 shares. Wellington Limited Liability Partnership holds 2.89 million shares or 0.01% of its portfolio. Northern Trust Corporation accumulated 0% or 820,389 shares. Geode Cap Mngmt Lc, a Massachusetts-based fund reported 279,040 shares. Schneider Capital Management, a Pennsylvania-based fund reported 980,471 shares. Oxford Asset Mgmt accumulated 0.12% or 354,490 shares. Engineers Gate Manager L P has invested 0.03% of its portfolio in OFG Bancorp (NYSE:OFG). Teacher Retirement Of Texas, a Texas-based fund reported 6,124 shares. Amer Gp holds 0% or 32,310 shares in its portfolio. Citigroup Inc accumulated 536,877 shares or 0% of the stock. Us Commercial Bank De, a Minnesota-based fund reported 587 shares. National Bank Of Montreal Can last reported 0% of its portfolio in the stock. Moreover, Blackrock Advsr Limited Liability Company has 0.01% invested in OFG Bancorp (NYSE:OFG) for 653,336 shares. Teachers last reported 60,978 shares in the company. Blackrock Gru Limited has invested 0% of its portfolio in OFG Bancorp (NYSE:OFG).
Insider Transactions: Since April 1, 2016, the stock had 0 insider purchases, and 4 sales for $81,849 net activity. Shares for $7,680 were sold by Kumar Ganesh. The insider Pena Radames sold $36,196. The insider Martinez Rafael bought $48,930.
More notable recent OFG Bancorp (NYSE:OFG) news were published by: Reuters.com which released: “BRIEF-OFG Bancorp reports sale of PREPA position” on September 20, 2016, also Businesswire.com with their article: “OFG Bancorp Reports Sale of PREPA Position” published on September 20, 2016, Businesswire.com published: “OFG Bancorp to Report 3Q16 Results and Hold Conference Call on Friday, October …” on September 23, 2016. More interesting news about OFG Bancorp (NYSE:OFG) were released by: Seekingalpha.com and their article: “OFG Bancorp cuts government exposure with sale” published on September 20, 2016 as well as Businesswire.com‘s news article titled: “OFG Bancorp to Present at KBW 2016 Community Bank Investor Conference” with publication date: July 11, 2016.
OFG Company Profile
OFG Bancorp, incorporated on June 19, 1996, is a financial holding company. The Firm is engaged in providing banking and financial services through its subsidiaries. The Firm 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. The Firm operates through three divisions: Banking, Wealth Management and Treasury. The Firm provides these services through various subsidiaries including, a commercial bank, Oriental Bank; a securities broker-dealer, Oriental Financial Services Corp. (Oriental Financial Services); an insurance agency, Oriental Insurance, LLC (Oriental Insurance), and a retirement plan administrator, Oriental Pension Consultants, Inc. (OPC). All of its subsidiaries are based in San Juan, Puerto Rico, except for OPC, which is based in Boca Raton, Florida. The Firm has approximately 50 branches in Puerto Rico.
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