Shares of OFG Bancorp (NYSE:OFG – Get Free Report) hit a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $52.96 and last traded at $52.8590, with a volume of 547942 shares. The stock had previously closed at $50.00.
The bank reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.22. The company had revenue of $190.32 million for the quarter, compared to analysts’ expectations of $182.64 million. OFG Bancorp had a return on equity of 15.92% and a net margin of 24.08%.During the same period in the previous year, the business posted $1.15 earnings per share.
Key OFG Bancorp News
Here are the key news stories impacting OFG Bancorp this week:
- Positive Sentiment: Truist Financial raised its price target on OFG Bancorp from $55 to $58 and kept a buy rating, signaling confidence in further upside from current levels. Truist raises OFG target to $58
- Positive Sentiment: Keefe, Bruyette & Woods also lifted its target on OFG Bancorp from $52 to $57, reflecting improved expectations for the stock even though it maintained a market perform view. KBW raises OFG target to $57
- Positive Sentiment: OFG’s Q2 results came in ahead of expectations, with EPS of $1.39 versus consensus around $1.17-$1.18 and revenue of $190.3 million above forecasts, reinforcing the company’s earnings momentum. OFG Bancorp Reports 2Q26 Results
- Positive Sentiment: The earnings call highlighted strong core momentum and management said it expects second-half 2026 net interest margin in the 5.25%-5.35% range, helped by government deposit relocation. OFG expects 5.25%-5.35% NIM in 2H 2026
- Neutral Sentiment: Some commentary suggested the stock may be fairly valued after a sharp year-to-date gain, which could limit further near-term upside despite solid fundamentals. OFG Bancorp stock seems fairly priced
Wall Street Analysts Forecast Growth
Read Our Latest Report on OFG Bancorp
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of OFG Bancorp in the 3rd quarter valued at $35,000. EverSource Wealth Advisors LLC raised its stake in OFG Bancorp by 250.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,533 shares of the bank’s stock worth $66,000 after buying an additional 1,095 shares during the last quarter. Raymond James Financial Inc. bought a new position in OFG Bancorp during the second quarter worth $97,000. Royal Bank of Canada raised its stake in OFG Bancorp by 80.2% during the first quarter. Royal Bank of Canada now owns 3,901 shares of the bank’s stock worth $158,000 after buying an additional 1,736 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in OFG Bancorp in the second quarter valued at $162,000. Institutional investors own 92.73% of the company’s stock.
OFG Bancorp Trading Down 1.7%
The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.86. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 10.24 and a beta of 0.70. The firm’s fifty day moving average is $47.63 and its 200-day moving average is $43.71.
OFG Bancorp Company Profile
OFG Bancorp, through its principal subsidiary Oriental Bank, is a financial holding company headquartered in San Juan, Puerto Rico. The company provides a wide range of banking services, including commercial and consumer deposit accounts, small business loans, corporate lending, treasury management, and cash management solutions. Its consumer offerings encompass personal checking and savings accounts, credit cards, and electronic banking platforms designed to serve retail customers across its markets.
In addition to traditional banking products, OFG Bancorp offers mortgage origination and servicing, as well as wealth management and trust services for high‐net‐worth individuals and institutional clients.
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