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

Related OFG
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

Nov 2017Keefe Bruyette & WoodsUpgradesMarket PerformOutperform
Oct 2017Sandler O'NeillUpgradesHoldBuy
Jul 2016Keefe Bruyette & WoodsMaintainsMarket Perform

View More Analyst Ratings for OFG
View the Latest Analyst Ratings

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


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