OFG Bancorp (NYSE:OFG) Stock Rating Lowered by Wells Fargo & Company

OFG Bancorp (NYSE:OFG) was downgraded by equities research analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Wednesday,Finviz reports. They currently have a $42.00 target price on the bank’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 21.05% from the stock’s current price.

Separately, Keefe, Bruyette & Woods lifted their price target on shares of OFG Bancorp from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd.

OFG Bancorp Stock Down 0.6 %

Shares of OFG Bancorp stock opened at $34.70 on Wednesday. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 8.22 and a beta of 0.74. The stock’s 50-day moving average is $40.85 and its 200 day moving average is $42.34. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.85 and a quick ratio of 0.86. OFG Bancorp has a one year low of $33.19 and a one year high of $47.66.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.09 EPS for the quarter, topping the consensus estimate of $0.97 by $0.12. OFG Bancorp had a net margin of 22.71% and a return on equity of 15.80%. During the same quarter in the prior year, the business posted $0.98 earnings per share. Equities research analysts anticipate that OFG Bancorp will post 4.18 EPS for the current year.

Institutional Trading of OFG Bancorp

Several hedge funds have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in OFG Bancorp during the fourth quarter worth $7,289,000. Bridgeway Capital Management LLC bought a new stake in shares of OFG Bancorp during the fourth quarter worth about $5,205,000. Empowered Funds LLC acquired a new stake in shares of OFG Bancorp in the 4th quarter worth about $4,570,000. Foundry Partners LLC lifted its position in OFG Bancorp by 76.5% in the 4th quarter. Foundry Partners LLC now owns 237,264 shares of the bank’s stock valued at $10,041,000 after acquiring an additional 102,841 shares in the last quarter. Finally, Tudor Investment Corp ET AL boosted its stake in OFG Bancorp by 139.1% during the 4th quarter. Tudor Investment Corp ET AL now owns 176,517 shares of the bank’s stock valued at $7,470,000 after purchasing an additional 102,680 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

About OFG Bancorp

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, and individual retirement accounts; certificate of deposits, as well as time deposit products; commercial, consumer, auto leasing, and mortgage lending services; credit cards; cash management; financial planning and insurance services; and corporate and individual trust, and retirement services.