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Why OFG Bancorp (OFG) Stock Could See Much Higher Prices Ahead

OFG Bancorp (NYSE: OFG) is 2.94% higher on its value in year-to-date trading and has touched a low of $21.66 and a high of $30.93 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The OFG stock was last observed hovering at around $27.02 in the last trading session, with the day’s gains setting it 0.32% off its average median price target of $35.00 for the next 12 months. It is also 26.11% off the consensus price target high of $37.00 offered by 4 analysts, but current levels are 17.15% higher than the price target low of $33.00 for the same period.

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Currently trading at $27.34, the stock is 4.96% and 2.27% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.21 million and changing 1.18% at the moment leaves the stock 2.02% off its SMA200. OFG registered 23.10% gain for a year compared to 6-month loss of -0.44%.

The stock witnessed a 4.07% gain in the last 1 month and extending the period to 3 months gives it a 3.64%, and is 2.17% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.15% over the week and 2.45% over the month.

OFG Bancorp (OFG) has around 2269 employees, a market worth around $1.34B and $451.20M in sales. Current P/E ratio is 9.07 and Fwd P/E is 7.52. Profit margin for the company is 34.00%. Distance from 52-week low is 26.22% and -11.61% from its 52-week high. The company has generated returns on investments over the last 12 months (30.60%).

OFG Bancorp (OFG) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for OFG Bancorp (OFG) is a “Buy”. 4 analysts offering their recommendations for the stock have an average rating of 2.00, where 0 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

OFG Bancorp is expected to release its quarterly report on 10/21/2022.The EPS is expected to grow by 114.40% this year.

OFG Bancorp (OFG) Top Institutional Holders

The shares outstanding are 49.48M, and float is at 47.28M with Short Float at 1.74%.

OFG Bancorp (OFG) Insider Activity

A total of 65 insider transactions have happened at OFG Bancorp (OFG) in the last six months, with sales accounting for 17 and purchases happening 48 times. The most recent transaction is an insider purchase by Colon Jorge,the company’sDirector. SEC filings show that Colon Jorge bought 19,215 shares of the company’s common stock on Apr 25 at a price of $26.01 per share for a total of $0.5 million. Following the purchase, the insider now owns 95784.0 shares.

OFG Bancorp disclosed in a document filed with the SEC on Feb 28 that Ortiz Cesar A (Director, Corp Performance) sold a total of 2,523 shares of the company’s common stock. The trade occurred on Feb 28 and was made at $27.84 per share for $70240.0. Following the transaction, the insider now directly holds 0.0 shares of the OFG stock.

Still, SEC filings show that on Feb 24, Colon Jorge (Director) acquired 18,550 shares at an average price of $26.87 for $0.5 million. The insider now directly holds 75,569 shares of OFG Bancorp (OFG).

OFG Bancorp (OFG): Who are the competitors?

The company’s main competitors (and peers) include Renasant Corporation (RNST) that is trading -7.66% down over the past 12 months and Cadence Bank (CADE) that is 3.03% higher over the same period. First BanCorp. (FBP) is 22.32% up on the 1-year trading charts.

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