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UPDATE: Sterne Agee Initiates Oriental Financial Group at Buy on Growth and Earnings Outlook

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Earnings Scheduled For July 22, 2016
Earnings Scheduled For April 22, 2016

Sterne Agee initiated coverage on Oriental Financial Group (NYSE: OFG) with a Buy rating and a $14 price target.

Sterne Agee noted, "With the pending acquisition of BBVAPR and recent capital raise, OFG has been able to deploy its excess capital (29.25% Tier 1 Common) in a manner that will strengthen its earnings profile, bolster profitability and reduce its credit exposure (via marks on acquired loans/a larger overall balance sheet). Additionally, the transaction gives the company greater critical mass and a more diversified earnings stream in a highly competitive Puerto Rican market."

Oriental Financial Group closed at $10.25 on Tuesday.

Latest Ratings for OFG

DateFirmActionFromTo
Jul 2016Keefe Bruyette & WoodsMaintainsMarket Perform
Apr 2016Merion Capital GroupMaintainsOutperform
Apr 2016PiperJaffrayInitiates Coverage onNeutral

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View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

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