OFG has been the subject of several other research reports. Zacks Investment Research upgraded shares of OFG Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Friday, April 1st. Wells Fargo & Company boosted their price target on shares of OFG Bancorp from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, January 4th.
Shares of OFG opened at $26.58 on Friday. OFG Bancorp has a 1-year low of $19.78 and a 1-year high of $30.93. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.92 and a quick ratio of 0.96. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 8.83 and a beta of 1.29. The company has a 50-day moving average of $26.84 and a 200 day moving average of $26.84.
In related news, Director Julian Inclan bought 6,000 shares of the company’s stock in a transaction on Thursday, February 3rd. The shares were bought at an average price of $26.95 per share, with a total value of $161,700.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jorge Colon acquired 1,204 shares of the company’s stock in a transaction dated Wednesday, February 23rd. The stock was acquired at an average cost of $27.40 per share, for a total transaction of $32,989.60. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 26,419 shares of company stock worth $694,472. Insiders own 2.66% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in OFG. Marshall Wace North America L.P. purchased a new stake in shares of OFG Bancorp in the 1st quarter valued at $53,000. Morgan Stanley raised its position in OFG Bancorp by 63.4% during the second quarter. Morgan Stanley now owns 202,212 shares of the bank’s stock worth $4,472,000 after acquiring an additional 78,460 shares during the period. SG Americas Securities LLC acquired a new position in OFG Bancorp during the third quarter worth $2,077,000. Swiss National Bank raised its position in OFG Bancorp by 0.7% during the third quarter. Swiss National Bank now owns 114,100 shares of the bank’s stock worth $2,878,000 after acquiring an additional 800 shares during the period. Finally, Congress Asset Management Co. MA raised its position in OFG Bancorp by 1.2% during the third quarter. Congress Asset Management Co. MA now owns 73,296 shares of the bank’s stock worth $1,849,000 after acquiring an additional 872 shares during the period. 91.03% of the stock is currently owned by institutional investors and hedge funds.
About OFG Bancorp (Get Rating)
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, and mortgage lending services; financial planning and insurance services; and corporate and individual trust, and retirement services.
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