OFG Bancorp (NYSE:OFG) Cut to “Buy” at StockNews.com

OFG Bancorp (NYSE:OFGGet Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

OFG Bancorp Price Performance

NYSE:OFG opened at $28.70 on Friday. OFG Bancorp has a one year low of $23.82 and a one year high of $30.93. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 9.17 and a beta of 1.17. The firm’s fifty day moving average is $27.31 and its two-hundred day moving average is $27.22.

Institutional Investors Weigh In On OFG Bancorp

Several institutional investors have recently modified their holdings of the company. Financial Management Professionals Inc. acquired a new position in OFG Bancorp in the third quarter valued at $25,000. Quantbot Technologies LP lifted its holdings in shares of OFG Bancorp by 734.8% in the second quarter. Quantbot Technologies LP now owns 1,678 shares of the bank’s stock valued at $42,000 after purchasing an additional 1,477 shares in the last quarter. KBC Group NV purchased a new position in shares of OFG Bancorp during the second quarter valued at approximately $101,000. Tower Research Capital LLC TRC lifted its stake in shares of OFG Bancorp by 193.9% during the third quarter. Tower Research Capital LLC TRC now owns 6,592 shares of the bank’s stock valued at $166,000 after buying an additional 4,349 shares during the period. Finally, Mutual of America Capital Management LLC increased its position in OFG Bancorp by 14.1% during the second quarter. Mutual of America Capital Management LLC now owns 8,162 shares of the bank’s stock worth $207,000 after purchasing an additional 1,010 shares during the last quarter. 93.47% of the stock is owned by hedge funds and other institutional investors.

About OFG Bancorp

(Get Rating)

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, as well as time deposit products; commercial, consumer, auto, and mortgage lending services; financial planning and insurance services; and corporate and individual trust, and retirement services.

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