OFG Bancorp (NYSE:OFG) Given New $58.00 Price Target at Truist Financial

OFG Bancorp (NYSE:OFG) had its price objective lifted by Truist Financial from $55.00 to $58.00 in a research note released on Wednesday morning, Marketbeat reports. The brokerage currently has a buy rating on the bank’s stock.

A number of other brokerages have also commented on OFG. Weiss Ratings reissued a “buy (b)” rating on shares of OFG Bancorp in a report on Friday, July 10th. Zacks Research lowered OFG Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Wells Fargo & Company lifted their price objective on shares of OFG Bancorp from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Benchmark assumed coverage on shares of OFG Bancorp in a report on Tuesday, July 14th. They issued a “hold” rating for the company. Finally, Piper Sandler set a $56.00 price target on shares of OFG Bancorp in a report on Wednesday. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $54.00.

OFG Bancorp Trading Down 1.7%

NYSE OFG opened at $52.00 on Wednesday. The stock has a market capitalization of $2.20 billion, a P/E ratio of 10.24 and a beta of 0.70. The business has a 50 day simple moving average of $47.63 and a 200 day simple moving average of $43.71. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.86. OFG Bancorp has a one year low of $35.71 and a one year high of $53.20.

OFG Bancorp (NYSE:OFG) last posted its quarterly earnings results on Tuesday, July 21st. The bank reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.22. OFG Bancorp had a net margin of 24.08% and a return on equity of 15.92%. The firm had revenue of $190.32 million during the quarter, compared to the consensus estimate of $182.64 million. During the same period in the previous year, the firm posted $1.15 earnings per share. Research analysts expect that OFG Bancorp will post 4.79 earnings per share for the current year.

Institutional Trading of OFG Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. First Trust Advisors LP boosted its stake in OFG Bancorp by 13.8% in the first quarter. First Trust Advisors LP now owns 2,321,924 shares of the bank’s stock worth $93,945,000 after buying an additional 281,593 shares in the last quarter. Qube Research & Technologies Ltd grew its position in OFG Bancorp by 31.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 554,208 shares of the bank’s stock worth $23,720,000 after acquiring an additional 133,046 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in OFG Bancorp in the fourth quarter valued at approximately $4,224,000. Squarepoint Ops LLC lifted its position in OFG Bancorp by 990.9% in the fourth quarter. Squarepoint Ops LLC now owns 101,746 shares of the bank’s stock valued at $4,170,000 after purchasing an additional 92,419 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of OFG Bancorp by 518.1% during the second quarter. Jane Street Group LLC now owns 109,427 shares of the bank’s stock valued at $4,683,000 after purchasing an additional 91,723 shares during the period. Institutional investors own 92.73% of the company’s stock.

Key Stories Impacting OFG Bancorp

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

• Positive Sentiment: Truist Financial raised its price target on OFG Bancorp from $55 to $58 and kept a buy rating, signaling confidence in further upside from current levels. Truist raises OFG target to $58
• Positive Sentiment: Keefe, Bruyette & Woods also lifted its target on OFG Bancorp from $52 to $57, reflecting improved expectations for the stock even though it maintained a market perform view. KBW raises OFG target to $57
• Positive Sentiment: OFG’s Q2 results came in ahead of expectations, with EPS of $1.39 versus consensus around $1.17-$1.18 and revenue of $190.3 million above forecasts, reinforcing the company’s earnings momentum. OFG Bancorp Reports 2Q26 Results
• Positive Sentiment: The earnings call highlighted strong core momentum and management said it expects second-half 2026 net interest margin in the 5.25%-5.35% range, helped by government deposit relocation. OFG expects 5.25%-5.35% NIM in 2H 2026
• Neutral Sentiment: Some commentary suggested the stock may be fairly valued after a sharp year-to-date gain, which could limit further near-term upside despite solid fundamentals. OFG Bancorp stock seems fairly priced

OFG Bancorp Company Profile

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.