The stock of OFG Bancorp (NYSE:OFG) hit a new 52-week high and has $14.39 target or 7.00% above today’s $13.45 share price. The 7 months bullish chart indicates low risk for the $584.05 million company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $14.39 price target is reached, the company will be worth $40.88M 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 317,873 shares traded hands. OFG Bancorp (NYSE:OFG) has risen 48.11% since April 26, 2016 and is uptrending. It has outperformed by 42.85% 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 $11.29M for 12.93 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. The rating was upgraded by Guggenheim to “Buy” on Monday, July 27. The firm has “Neutral” rating by Piper Jaffray given on Friday, April 8. The company was maintained on Monday, April 25 by Merion Capital Group.
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 increased, 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.
Legal & General Public Ltd Co owns 6,780 shares or 0% of their US portfolio. Barclays Public Limited Liability Corp holds 0% or 156 shares in its portfolio. Cutter And Co Brokerage reported 20,371 shares or 0.07% of all its holdings. Thrivent Financial For Lutherans accumulated 21,050 shares or 0% of the stock. Bnp Paribas Arbitrage last reported 0% of its portfolio in the stock. Pacad Limited reported 2,200 shares or 0% of all its holdings. Tci Wealth Advsrs Inc owns 60 shares or 0% of their US portfolio. Blackrock Mgmt Limited Liability Company last reported 0% of its portfolio in the stock. Ladenburg Thalmann Svcs accumulated 0% or 500 shares. The Illinois-based Balyasny Asset Management Ltd has invested 0% in OFG Bancorp (NYSE:OFG). Dimensional Fund Lp accumulated 0.02% or 3.67M shares. Schwab Charles Investment Inc, a California-based fund reported 536,428 shares. American Int Gp has 0% invested in the company for 32,310 shares. The New York-based Pinebridge Limited Partnership has invested 0% in OFG Bancorp (NYSE:OFG). Citigroup Inc, a New York-based fund reported 536,877 shares.
Insider Transactions: Since November 4, 2016, the stock had 0 insider buys, and 2 sales for $34,902 net activity. Kumar Ganesh had sold 750 shares worth $17,464.
More recent OFG Bancorp (NYSE:OFG) news were published by: Businesswire.com which released: “OFG Bancorp Reports Sale of PREPA Position” on September 20, 2016. Also Businesswire.com published the news titled: “OFG Bancorp Reports 3Q16 Results” on October 21, 2016. Businesswire.com‘s news article titled: “OFG Bancorp Reports 1Q16 Results” with publication date: April 22, 2016 was also an interesting one.
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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