<div id="readability-page-1"><p><span>OFG Bancorp (NYSE:OFG - Get Free Report)</span> was downgraded by research analysts at Zacks Research from a &#34;hold&#34; rating to a &#34;strong sell&#34; rating in a research note issued to investors on Tuesday,Zacks.com reports.</p><p>Other research analysts have also issued research reports about the company. UBS Group  set a $50.00 target price on OFG Bancorp in a research report on Thursday, October 9th. Truist Financial decreased their price target on OFG Bancorp from $50.00 to $48.00 and set a &#34;buy&#34; rating for the company in a research note on Thursday, October 23rd. Keefe, Bruyette &amp; Woods cut their price objective on OFG Bancorp from $51.00 to $50.00 and set an &#34;outperform&#34; rating on the stock in a research report on Thursday, October 23rd. Wells Fargo &amp; Company reduced their target price on OFG Bancorp from $48.00 to $43.00 and set an &#34;equal weight&#34; rating on the stock in a research note on Monday, October 27th. Finally, Weiss Ratings  reissued a &#34;buy (b)&#34; rating on shares of OFG Bancorp in a research note on Monday. Five investment analysts have rated the stock with a Buy rating, one  has issued  a Hold rating and one  has given a Sell rating to the stock. According to MarketBeat, the stock  has a consensus rating of &#34;Moderate Buy&#34; and a consensus price target of $47.17.</p><p><b>Get Our Latest Stock Report on OFG Bancorp</b></p><h2>OFG Bancorp Trading Up 1.1%</h2><p>Shares of OFG stock opened at $42.61 on Tuesday. The company has a market cap of $1.87 billion, a PE ratio of 9.68 and a beta of 0.79. OFG Bancorp has a 1 year low of $33.15 and a 1 year high of $46.11. The stock's 50 day simple moving average is $40.54 and its two-hundred day simple moving average is $42.34. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.85 and a quick ratio of 0.85. </p><p>OFG Bancorp (NYSE:OFG - Get Free Report) last released its earnings results on Wednesday, October 22nd. The bank reported $1.16 earnings per share for the quarter, meeting the consensus estimate of $1.16. OFG Bancorp had a return on equity of 15.18% and a net margin of 22.26%.The firm had revenue of $186.18 million for the quarter, compared to the consensus estimate of $186.71 million. During the same quarter in the previous year, the company posted $1.00 EPS. The company's revenue for the quarter was up 5.7% compared to the same quarter last year.  Research analysts predict that  OFG Bancorp will post 4.18 earnings per share for the current year. </p><h2>Insider Activity</h2><p>In related news, Director Jorge Colon sold 25,000 shares of OFG Bancorp stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $40.85, for a total value of $1,021,250.00. Following the completion of the sale, the director directly owned 27,543 shares in the company, valued at $1,125,131.55. The trade was a 47.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jose Rafael Fernandez sold 25,232 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $40.95, for a total transaction of $1,033,250.40. Following the transaction, the chief executive officer owned 184,675 shares in the company, valued at approximately $7,562,441.25. The trade was a 12.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 60,500 shares of company stock worth $2,479,682. Company insiders own  3.11% of the company's stock. </p><h2>Hedge Funds Weigh In On OFG Bancorp</h2><p>A number of large investors have recently bought and sold shares of OFG. Quarry LP bought a new stake in  OFG Bancorp during the 3rd quarter valued at $35,000.  Wealth Enhancement Advisory Services LLC purchased a new stake in shares of  OFG Bancorp during the 3rd quarter worth $53,000.  EverSource Wealth Advisors LLC boosted its position in  OFG Bancorp by 250.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,533 shares of the bank's stock valued at $66,000 after purchasing an additional 1,095 shares in the last quarter.  Raymond James Financial Inc. purchased a new position in  OFG Bancorp in the second quarter valued at about $97,000.  Finally, Quantbot Technologies LP purchased a new position in  OFG Bancorp in the second quarter valued at about $162,000. Institutional investors own  92.73% of the company's stock. </p><h2>OFG Bancorp Company Profile</h2> (Get Free Report)<p>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, and individual retirement accounts; certificate of deposits, as well as time deposit products; commercial, consumer, auto leasing, and mortgage lending services; credit cards; cash management; financial planning and insurance services; and corporate and individual trust, and retirement services.</p><h2>Further Reading</h2><ul><li>Five stocks we like better than OFG Bancorp</li><li>There Are Different Types of Stock To Invest In</li><li>Rate Cuts Make These 3 Income ETFs More Attractive Than Ever</li><li>ESG Stocks, What Investors Should Know</li><li>Post 35% Surge, Analysts Eye More Upside in Copper Giant Freeport</li><li>What is Insider Trading? What You Can Learn from Insider Trading</li><li>Why a SpaceX IPO Could Be a Major Catalyst for GOOGL Stock</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/RatingsChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPU9GRw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="600" height="385" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/RatingsChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPU9GRw"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in OFG Bancorp Right Now?</h2><p>Before you consider OFG Bancorp, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and OFG Bancorp wasn't on the list.</p><p>While OFG Bancorp currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

<p>Zacks Research downgraded OFG Bancorp from a "hold" to a "strong sell" rating. Other analysts have varied opinions, with UBS setting a $50 target price, Truist Financial lowering it to $48, and Wells Fargo to $43. The stock has a consensus "Moderate Buy" rating with a $47.17 target. OFG Bancorp's recent earnings met expectations, and insider trading activity was noted. Institutional investors hold 92.73% of the stock.</p>

OFG Bancorp (NYSE:OFG) Stock Rating Lowered by Zacks Research