OFG Bancorp price target raised to $48 from $43 at Piper Sandler

Piper Sandler raised the firm’s price target on OFG Bancorp (OFG) to $48 from $43 and keeps a Neutral rating on the shares following quarterly results. The firm notes shares rose 5% on the print as net interest margin expanded and drove a better outlook, credit improved on both seasonality and a past shift to a higher FICO band starting to show through, and an accelerated buyback.