OFG Bancorp (OFG) Shares are Up 3.58%

OFG Bancorp (OFG) : Traders are bullish on OFG Bancorp (OFG) as it has outperformed the S&P 500 by a wide margin of 6.5% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.62%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.58% in the last 1 week, and is up 6.91% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

OFG Bancorp is up 29.74% in the last 3-month period. Year-to-Date the stock performance stands at 52.49%. The stock has recorded a 20-day Moving Average of 2.8% and the 50-Day Moving Average is 16.29%.


OFG Bancorp (NYSE:OFG): The stock was completely flat for the day, closing at $10.98 on Friday. The flat closing masks the intraday volatility in the stock. After opening at $10.95, the stock touched an intraday high of $11.01 and a low of $10.88. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $10.98. The total trading volume on Friday was 181,367.

Also, Keefe Bruyette & Woods maintains its rating on OFG Bancorp (NYSE:OFG). The global brokerage major raises the current price target from $10 per share to $11 per share. Analysts at the Keefe Bruyette & Woods have a current rating of Market Perform on the shares. The rating by the firm was issued on July 25, 2016.

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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