Stock Worth Watching: A Reversal for OFG Bancorp Is Not Near. The Stock Reaches 52-Week High Today

Stock Worth Watching: A Reversal for OFG Bancorp Is Not Near. The Stock Reaches 52 Week High Today

The stock of OFG Bancorp (NYSE:OFG) hit a new 52-week high and has $23.76 target or 118.00% above today’s $10.90 share price. The 5 months bullish chart indicates low risk for the $469.67M company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $23.76 price target is reached, the company will be worth $554.21M 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. About 136,220 shares traded hands. OFG Bancorp (NYSE:OFG) has risen 65.90% since April 5, 2016 and is uptrending. It has outperformed by 63.94% the S&P500.

OFG Bancorp (NYSE:OFG) Ratings Coverage

Out of 5 analysts covering Oriental Financial Group Inc (NYSE:OFG), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. Oriental Financial Group Inc has been the topic of 6 analyst reports since July 27, 2015 according to StockzIntelligence Inc. Guggenheim upgraded OFG Bancorp (NYSE:OFG) on Monday, July 27 to “Buy” rating. The company was initiated on Friday, April 8 by Piper Jaffray. The stock of OFG Bancorp (NYSE:OFG) earned “Outperform” rating by Merion Capital Group on Monday, April 25.

According to Zacks Investment Research, “OFG Bancorp is a financial holding company that conducts its business activities through its subsidiaries, primarily in Puerto Rico. The company’s product and services consist of consumer banking and lending, commercial banking and wealth management. It offers residential mortgages, auto loans and leases, credit cards, business loans, commercial mortgages and leasing, cash management, transactional services, international trade financing, financial planning, money management, investment brokerage, corporate and individual trust, retirement products programs, and insurance. OFG Bancorp., formerly known as Oriental Financial Group Inc., is based in San Juan, Puerto Rico.”

Insitutional Activity: The institutional sentiment decreased to 0.96 in Q2 2016. Its down 0.53, from 1.49 in 2016Q1. The ratio turned negative, as 14 funds sold all OFG Bancorp shares owned while 41 reduced positions. 17 funds bought stakes while 36 increased positions. They now own 40.65 million shares or 6.32% less from 43.40 million shares in 2016Q1.
Blackrock Institutional Na accumulated 0% or 1.10 million shares. Gsa Capital Prns Limited Liability Partnership has 0.12% invested in the company for 272,298 shares. Blackrock Grp owns 49,675 shares or 0% of their US portfolio. Springbok Mngmt Limited Liability, a New York-based fund reported 10,900 shares. Schroder Inv Management Grp Incorporated has 0% invested in the company for 25,900 shares. Teton Advisors Inc accumulated 20,150 shares or 0.02% of the stock. Royal Retail Bank Of Canada accumulated 98,593 shares or 0% of the stock. Profund Advisors Limited Liability Corporation owns 14,618 shares or 0.01% of their US portfolio. Goldman Sachs Grp Inc Incorporated holds 609,776 shares or 0% of its portfolio. Qs Ltd Llc accumulated 0.01% or 170,093 shares. Moreover, Pnc Service Group Inc has 0% invested in OFG Bancorp (NYSE:OFG) for 306 shares. Barclays Public Limited Company, a United Kingdom-based fund reported 156 shares. Connor Clark And Lunn Inv Mngmt Limited holds 0.01% of its portfolio in OFG Bancorp (NYSE:OFG) for 86,725 shares. Clarivest Asset Management Limited Liability Company last reported 75,100 shares in the company. Nationwide Fund Advsrs reported 80,313 shares or 0% of all its holdings.

More notable recent OFG Bancorp (NYSE:OFG) news were published by: Businesswire.com which released: “OFG Bancorp Reports Sale of PREPA Position” on September 20, 2016, also Streetinsider.com with their article: “Form 4 OFG BANCORP For: Nov 07 Filed by: Kumar Ganesh” published on November 07, 2016, Businesswire.com published: “OFG Bancorp Sells Remaining Commercial NPAs as FDIC Loss Share Agreement Ends” on September 29, 2015. More interesting news about OFG Bancorp (NYSE:OFG) were released by: Seekingalpha.com and their article: “OFG Bancorp’s (OFG) CEO José Rafael Fernández on Q3 2016 Results – Earnings …” published on October 21, 2016 as well as Businesswire.com‘s news article titled: “OFG Bancorp Reports 1Q16 Results” with publication date: April 22, 2016.

OFG Company Profile

OFG Bancorp, incorporated on June 19, 1996, is a financial holding company. The Firm is engaged in providing banking and financial services through its subsidiaries. The Firm 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 Firm operates through three divisions: Banking, Wealth Management and Treasury. The Firm 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, LLC (Oriental Insurance), and a retirement plan administrator, Oriental Pension Consultants, Inc. (OPC). All of its subsidiaries are based in San Juan, Puerto Rico, except for OPC, which is based in Boca Raton, Florida. The Firm has approximately 50 branches in Puerto Rico.

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