In a welcome move, OFG Bancorp saw its Relative Strength Rating rise from 67 to 71 on Thursday.
This exclusive rating from Investor's Business Daily identifies price performance with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains typically have an RS Rating of over 80 as they begin their biggest climbs. See if OFG Bancorp can continue to rebound and hit that benchmark.
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OFG Bancorp broke out earlier, but is now about 4% below the prior 47.57 entry from a consolidation. If a stock you're tracking clears a buy point then falls 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new pattern and breakout. Also keep in mind that the most recent pattern is a later-stage base, and those involve more risk.
The company reported 5% EPS growth last quarter. Revenue increased 1%.
The company earns the No. 15 rank among its peers in the Banks-Southeast industry group. MetroCity Bankshares, Village Bank & Trust and Burke Herbert Finl Svcs are among the top 5 highly rated stocks within the group.
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