Market Overview

UPDATE: Sterne Agee Raises Price Target on OFG Bancorp on Recent BBVAPR Transaction

Share:
Related OFG
Earnings Scheduled For January 30, 2015
Events for the Week of Jul. 28th to Aug. 1st
OFG Bancorp's (OFG) CEO Jose Rafael Fernandez on Q4 2014 Results - Earnings Call Transcript (Seeking Alpha)

In a report published on Wednesday, Sterne Agee analyst Todd Hagerman raised the price target on OFG Bancorp (NYSE: OFG) from $20.00 to $23.00 and reiterated a Buy rating on the company.

In the report, Sterne Agee Stated, "The benefits of the recent BBVAPR transaction continue to shine, including record loan production, momentum in fee income bus. lines and better-than-expected expense control... Given expectations for an October completion of the integration, our sense is OFG will emerge as a more profitable and less encumbered competitor in a highly competitive Puerto Rico banking market."

OFG Bancorp closed on Tuesday at $18.37.

Latest Ratings for OFG

DateFirmActionFromTo
Oct 2014JefferiesMaintainsBuy
Oct 2014Keefe Bruyette & WoodsMaintainsOutperform
Jul 2013JefferiesMaintainsBuy

View More Analyst Ratings for OFG
View the Latest Analyst Ratings

Posted-In: Sterne Agee & Leach Todd HagermanAnalyst Color Price Target Analyst Ratings

 

Related Articles (OFG)

Around the Web, We're Loving...

Get Benzinga's Newsletters