OFG Bancorp (NYSE:OFG) Stock Rating Lowered by Wall Street Zen

OFG Bancorp (NYSE:OFG - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

A number of other analysts have also recently weighed in on OFG. Hovde Group decreased their price objective on OFG Bancorp from $53.50 to $50.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Piper Sandler cut their target price on OFG Bancorp from $44.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company increased their target price on OFG Bancorp from $42.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods cut their target price on OFG Bancorp from $53.00 to $48.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $47.00.

OFG Bancorp Price Performance

Shares of NYSE OFG opened at $44.60 on Friday. The stock's 50-day moving average is $42.23 and its two-hundred day moving average is $41.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.85 and a quick ratio of 0.84. OFG Bancorp has a 1-year low of $33.15 and a 1-year high of $47.66. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 10.69 and a beta of 0.75.

OFG Bancorp (NYSE:OFG - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.02). The business had revenue of $178.30 million for the quarter, compared to analyst estimates of $175.35 million. OFG Bancorp had a return on equity of 15.23% and a net margin of 22.10%. During the same period in the prior year, the company posted $1.05 earnings per share. Analysts forecast that OFG Bancorp will post 4.18 EPS for the current fiscal year.

Insider Activity at OFG Bancorp

In related news, CFO Maritza Arizmendi sold 5,000 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $41.44, for a total value of $207,200.00. Following the transaction, the chief financial officer owned 63,470 shares in the company, valued at approximately $2,630,196.80. The trade was a 7.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.11% of the stock is currently owned by corporate insiders.

Institutional Trading of OFG Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. bought a new position in shares of OFG Bancorp during the fourth quarter valued at approximately $44,000. Vestcor Inc bought a new position in shares of OFG Bancorp during the fourth quarter valued at approximately $107,000. Quarry LP grew its holdings in shares of OFG Bancorp by 458.9% during the first quarter. Quarry LP now owns 2,666 shares of the bank's stock valued at $107,000 after purchasing an additional 2,189 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of OFG Bancorp during the fourth quarter valued at approximately $172,000. Finally, Bridgefront Capital LLC acquired a new position in shares of OFG Bancorp during the fourth quarter worth approximately $221,000. 92.73% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.