OFG Bancorp's stock fell sharply by 5.49% during intraday trading on Friday, following a negative analyst action.
The decline came after Keefe, Bruyette & Woods downgraded OFG Bancorp from "Outperform" to "Market Perform" and reduced its price target to $43 from $50. Such downgrades often trigger selling pressure as investors reassess the stock's outlook.
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