Jefferies Starts Oriental Financial Group (OFG) at Buy

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Jefferies initiates coverage on Oriental Financial Group (NYSE: OFG) with a Buy. PT $20.00.

The firm comments, "We believe there is more room to run in the shares, as the company trades a significant discount to mainland-based peers with a similar ROE profile, has better post-acquisition capital than expected, should beat guided ‘13 EPS, and has strategic tailwinds. While the market remains concerned about a difficult operating environment in Puerto Rico, we believe the company can still generate better than average returns."

For an analyst ratings summary and ratings history on Oriental Financial Group click here. For more ratings news on Oriental Financial Group click here.

Shares of Oriental Financial Group closed at $14.67 yesterday, with a 52 week range of $9.76-$15.18.

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