Wells Fargo & Company Increases OFG Bancorp (NYSE:OFG) Price Target to $45.00

OFG Bancorp (NYSE:OFG) had its target price boosted by analysts at Wells Fargo & Company from $43.00 to $45.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s price target points to a potential downside of 2.27% from the company’s previous close.

Other research analysts have also issued research reports about the company. Zacks Research upgraded OFG Bancorp from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 14th. Truist Financial lifted their price target on OFG Bancorp from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $43.00 price target (down from $50.00) on shares of OFG Bancorp in a report on Friday, January 23rd. Piper Sandler reiterated a “neutral” rating and set a $48.00 price target (up from $43.00) on shares of OFG Bancorp in a report on Wednesday. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of OFG Bancorp in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $47.20.

OFG Bancorp Stock Up 0.6%

Shares of OFG opened at $46.05 on Wednesday. OFG Bancorp has a 52-week low of $35.71 and a 52-week high of $46.85. The company has a quick ratio of 0.87, a current ratio of 0.86 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $41.18 and a two-hundred day simple moving average of $40.94. The company has a market capitalization of $1.96 billion, a PE ratio of 9.51 and a beta of 0.67.

OFG Bancorp (NYSE:OFG) last posted its quarterly earnings results on Tuesday, April 21st. The bank reported $1.26 EPS for the quarter, topping the consensus estimate of $1.02 by $0.24. OFG Bancorp had a return on equity of 15.62% and a net margin of 23.45%.The business had revenue of $185.80 million for the quarter, compared to analyst estimates of $179.16 million. During the same quarter in the previous year, the firm earned $1.00 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, equities analysts forecast that OFG Bancorp will post 4.5 EPS for the current year.

OFG Bancorp declared that its board has approved a share repurchase program on Wednesday, January 28th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the bank to purchase up to 12% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Annette Franqui purchased 1,540 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were bought at an average cost of $42.06 per share, for a total transaction of $64,772.40. Following the completion of the purchase, the director directly owned 3,440 shares of the company’s stock, valued at approximately $144,686.40. This trade represents a 81.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in OFG. Quarry LP acquired a new position in OFG Bancorp during the third quarter worth $35,000. Wealth Enhancement Advisory Services LLC acquired a new position in OFG Bancorp during the third quarter worth $53,000. EverSource Wealth Advisors LLC lifted its stake in OFG Bancorp by 250.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,533 shares of the bank’s stock worth $66,000 after purchasing an additional 1,095 shares in the last quarter. Raymond James Financial Inc. acquired a new position in OFG Bancorp during the second quarter worth $97,000. Finally, Quantbot Technologies LP acquired a new position in OFG Bancorp during the second quarter worth $162,000. 92.73% of the stock is currently owned by institutional investors and hedge funds.

More OFG Bancorp News

Here are the key news stories impacting OFG Bancorp this week:

• Positive Sentiment: Q1 earnings beat and revenue growth — OFG reported Q1 results that topped estimates (earnings and revenue), driving initial share gains as management cited strong deposit performance and progress on its digital strategy. OFG Bancorp (NYSE:OFG) Shares Up 6.3% on Earnings Beat
• Positive Sentiment: Earnings‑call detail: strategy and metrics look constructive — The earnings call and presentations emphasized digital channel growth, deposit stability and margin/fee drivers that underpin the beat and near‑term outlook. Q1 2026 Earnings Call Highlights
• Positive Sentiment: Analysts lift forecasts and price targets — Multiple firms raised forecasts and targets after the quarter (Truist upgraded to a buy and raised its target to $50), providing fresh buy-side support. Analysts Raise Forecasts After Q1
• Positive Sentiment: Quarterly dividend announced — OFG declared a quarterly dividend of $0.35 (annualized yield ~3.1%), supporting income‑oriented investor interest.
• Positive Sentiment: Shareholder vote supports board and governance — At the April 22 annual meeting shareholders reelected the board and approved governance measures, reducing near‑term proxy risk. Shareholders Reelect Board
• Neutral Sentiment: Piper Sandler stays neutral but lifts target — Piper Sandler reaffirmed a neutral rating and nudged its target to $48, reflecting cautious optimism but not an outright upgrade. Piper Sandler Rating
• Negative Sentiment: Wells Fargo target still below current price — Wells Fargo raised its target modestly to $45 but kept an “equal weight” stance; that target implies limited upside (and slight downside) versus the current share level, which may cap momentum. Wells Fargo Price Target

About OFG Bancorp

OFG Bancorp, through its principal subsidiary Oriental Bank, is a financial holding company headquartered in San Juan, Puerto Rico. The company provides a wide range of banking services, including commercial and consumer deposit accounts, small business loans, corporate lending, treasury management, and cash management solutions. Its consumer offerings encompass personal checking and savings accounts, credit cards, and electronic banking platforms designed to serve retail customers across its markets.

In addition to traditional banking products, OFG Bancorp offers mortgage origination and servicing, as well as wealth management and trust services for high‐net‐worth individuals and institutional clients.