OFG Bancorp (OFG) Receives Price Target

OFG Bancorp (OFG) stock is expected to deviate a maximum of $0.58 from the average target price of $11.33 for the short term period. 3 Street Experts have initiated coverage on the stock with the most promising target being $12 and the most muted being $11.

OFG Bancorp (OFG) has an average broker rating of 2.33, which is interpreted as a Buy, as rated by 3 equity analysts. Nonetheless, 1 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. Nevertheless, the majority of 2 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 2, which is also a Buy.


Also, In the latest statement by the brokerage house, Keefe Bruyette & Woods maintains its outlook on OFG Bancorp (NYSE:OFG). The current rating of the shares is Market Perform, according to the research report released by the firm. The brokerage firm raises the price target from $10 per share to $11 per share. The rating by the firm was issued on July 25, 2016.

OFG Bancorp (NYSE:OFG): The stock opened at $10.97 on Thursday but the bulls could not build on the opening and the stock topped out at $11.01 for the day. The stock traded down to $10.66 during the day, due to lack of any buying support eventually closed down at $10.80 with a loss of -1.01% for the day. The stock had closed at $10.91 on the previous day. The total traded volume was 297,051 shares.

OFG Bancorp is a financial holding company. The Company is engaged in providing banking and financial services through its subsidiaries. The Company provides banking and financial services to its clients through a range of banking and financial solutions, including commercial, consumer, auto, and mortgage lending; checking and savings accounts; financial planning, insurance, financial service, and investment brokerage, and corporate and individual trust and retirement services. The Company operates through three segments: Banking, Wealth Management and Treasury. The Company provides these services through various subsidiaries, including a commercial bank, Oriental Bank, a securities broker-dealer, Oriental Financial Services Corp. (Oriental Financial Services), an insurance agency, Oriental Insurance, Inc. (Oriental Insurance) and a retirement plan administrator, Caribbean Pension Consultants, Inc. (CPC). The Company has 53 branches in Puerto Rico.

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