OFG Bancorp price target raised to $48 from $40 at Wells Fargo

Wells Fargo raised the firm’s price target on OFG Bancorp to $48 from $40 and keeps an Overweight rating on the shares. The firm notes OFG has been among a few to grow net interest income for the last three years, with a group high 5.51% net interest margin. The asset sensitive balance sheet and a large deposit outflow pressure 2025 growth rate, but fixed asset repricing and buybacks should continue to support EPS, Wells adds.