The stock of OFG Bancorp (NYSE:OFG) hit a new 52-week high and has $14.58 target or 8.00% above today’s $13.50 share price. The 8 months bullish chart indicates low risk for the $597.38 million company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $14.58 price target is reached, the company will be worth $47.79M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 197,149 shares traded hands. OFG Bancorp (NYSE:OFG) has risen 67.73% since April 21, 2016 and is uptrending. It has outperformed by 62.40% the S&P500.
Analysts await OFG Bancorp (NYSE:OFG) to report earnings on February, 6. They expect $0.26 earnings per share, up 360.00% or $0.36 from last year’s $-0.1 per share. OFG’s profit will be $11.51 million for 12.98 P/E if the $0.26 EPS becomes a reality. After $0.26 actual earnings per share reported by OFG Bancorp for the previous quarter, Wall Street now forecasts 0.00% 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. Piper Jaffray initiated the shares of OFG in a report on Friday, April 8 with “Neutral” rating. The rating was maintained by Merion Capital Group on Monday, April 25 with “Outperform”. The firm has “Buy” rating by Guggenheim given on Monday, July 27.
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 increased to 1.26 in 2016 Q2. Its up 0.30, from 0.96 in 2016Q1. The ratio improved, 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.
Credit Suisse Ag has invested 0% of its portfolio in OFG Bancorp (NYSE:OFG). Cornerstone Capital Holding Ltd Liability Com last reported 0% of its portfolio in the stock. Mraz Amerine And Associates Incorporated owns 29,916 shares or 0.09% of their US portfolio. Blackrock owns 10,865 shares or 0% of their US portfolio. Goldman Sachs Gru Incorporated has 0% invested in the company for 609,776 shares. Sector Pension Investment Board holds 30,250 shares or 0% of its portfolio. Moreover, Zurcher Kantonalbank (Zurich Cantonalbank) has 0% invested in OFG Bancorp (NYSE:OFG) for 783 shares. California Pub Employees Retirement Systems, a California-based fund reported 262,000 shares. Tower Rech Cap Limited Liability (Trc) has invested 0% of its portfolio in OFG Bancorp (NYSE:OFG). Thrivent Fin For Lutherans holds 0% or 21,050 shares in its portfolio. Qs Investors Lc last reported 170,093 shares in the company. Royal Commercial Bank Of Canada holds 98,593 shares or 0% of its portfolio. Cutter & Brokerage accumulated 0.07% or 20,371 shares. Moreover, Sei Investments has 0% invested in OFG Bancorp (NYSE:OFG) for 1,166 shares. Moreover, State Board Of Administration Of Florida Retirement Sys has 0% invested in OFG Bancorp (NYSE:OFG) for 52,393 shares.
Insider Transactions: Since November 4, 2016, the stock had 0 buys, and 2 sales for $34,902 net activity. Kumar Ganesh also sold $17,438 worth of OFG Bancorp (NYSE:OFG) shares.
More news for OFG Bancorp (NYSE:OFG) were recently published by: Businesswire.com, which released: “OFG Bancorp Reports Sale of PREPA Position” on September 20, 2016. Businesswire.com‘s article titled: “OFG Bancorp Sells Remaining Commercial NPAs as FDIC Loss Share Agreement Ends” and published on September 29, 2015 is yet another important article.
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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