Could OFG Bancorp (OFG) Lose its Strength? The Stock Reaches 52-Week High

May 17, 2018 - By James Guidry

OFG Bancorp (NYSE:OFG) Logo

Investors sentiment decreased to 1.05 in Q4 2017. Its down 0.04, from 1.09 in 2017Q3. It fall, as 15 investors sold OFG Bancorp shares while 47 reduced holdings. 22 funds opened positions while 43 raised stakes. 39.29 million shares or 1.02% less from 39.70 million shares in 2017Q3 were reported.
Polaris Capital Management Ltd Liability Corp owns 271,100 shares. Morgan Stanley stated it has 0% of its portfolio in OFG Bancorp (NYSE:OFG). Ahl Ptnrs Ltd Liability Partnership holds 0% or 15,212 shares. Smith Asset Mgmt Grp L P holds 0.01% of its portfolio in OFG Bancorp (NYSE:OFG) for 19,680 shares. Tiaa Cref Lc invested in 0% or 212,291 shares. Aperio Group Inc Llc reported 19,111 shares stake. Comerica Bancorp invested 0% in OFG Bancorp (NYSE:OFG). Guggenheim Lc has invested 0% in OFG Bancorp (NYSE:OFG). Goldman Sachs Group holds 0% in OFG Bancorp (NYSE:OFG) or 401,303 shares. Schneider Mgmt accumulated 46,227 shares or 0.1% of the stock. 1,989 were reported by Pnc Fincl Svcs Group Inc Inc. Invesco owns 257,199 shares. Us Bancorporation De stated it has 0% in OFG Bancorp (NYSE:OFG). 68,206 were accumulated by California State Teachers Retirement Sys. Martingale Asset Lp accumulated 138,167 shares.

The stock of OFG Bancorp (NYSE:OFG) hit a new 52-week high and has $15.26 target or 6.00 % above today’s $14.40 share price. The 6 months bullish chart indicates low risk for the $633.14 million company. The 1-year high was reported on May, 17 by Barchart.com. If the $15.26 price target is reached, the company will be worth $37.99 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 1.05% or $0.15 during the last trading session, reaching $14.4. About 166,334 shares traded. OFG Bancorp (NYSE:OFG) has declined 4.07% since May 17, 2017 and is downtrending. It has underperformed by 15.62% the S&P500.

Analysts await OFG Bancorp (NYSE:OFG) to report earnings on July, 20. They expect $0.25 EPS, down 16.67 % or $0.05 from last year’s $0.3 per share. OFG’s profit will be $10.99 million for 14.40 P/E if the $0.25 EPS becomes a reality. After $0.29 actual EPS reported by OFG Bancorp for the previous quarter, Wall Street now forecasts -13.79 % negative EPS growth.

OFG Bancorp (NYSE:OFG) Ratings Coverage

Among 4 analysts covering OFG Bancorp (NYSE:OFG), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. OFG Bancorp had 8 analyst reports since November 28, 2017 according to SRatingsIntel. The company was upgraded on Tuesday, November 28 by Wood. Keefe Bruyette & Woods upgraded the shares of OFG in report on Tuesday, November 28 to “Buy” rating. Piper Jaffray maintained OFG Bancorp (NYSE:OFG) rating on Tuesday, February 27. Piper Jaffray has “Hold” rating and $12.0 target. The stock has “Hold” rating by Piper Jaffray on Wednesday, January 31. The stock has “Buy” rating by Sandler O’Neill on Monday, March 5. Sandler O’Neill maintained it with “Buy” rating and $15.5000 target in Friday, April 20 report. Piper Jaffray maintained it with “Hold” rating and $1400 target in Monday, April 23 report. The company was maintained on Sunday, April 22 by Keefe Bruyette & Woods.

More news for OFG Bancorp (NYSE:OFG) were recently published by: Seekingalpha.com, which released: “OFG Bancorp’s (OFG) CEO José Rafael Fernández on Q1 2018 Results – Earnings Call Transcript” on April 20, 2018. Nasdaq.com‘s article titled: “New Research: Key Drivers of Growth for OFG, Oshkosh, Vishay Precision Group, Endocyte, BioCryst Pharmaceuticals …” and published on April 26, 2018 is yet another important article.

OFG Bancorp, a financial holding company, provides various banking and financial services. The company has market cap of $633.14 million. It operates in three divisions: Banking, Wealth Management, and Treasury. It has a 16.36 P/E ratio. The firm offers checking and savings accounts, as well as time deposit products; commercial, consumer, auto, and mortgage lending products; and financial planning, investment brokerage, corporate and individual trust, and retirement services.

OFG Bancorp (NYSE:OFG) Institutional Positions Chart

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