OFG Bancorp (OFG)
OFG Bancorp, a financial holding company, offers a range of banking and financial services. The company is headquartered in San Juan, Puerto Rico.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 49.09% per annum.
- OFG price at the close of November 19, 2024 was $43.44 and was inside the primary price channel.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 20.65% per annum.
- OFG price at the close of November 19, 2024 was inside the secondary price channel.
- The direction of the secondary trend is opposite to the direction of the primary trend. This indicates a possible reversal in the direction of the primary trend.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of OFG price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: March 13, 2023
End date: October 15, 2024
a = 1.8467
b = 0.0011
s = 0.0645
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0011) – 1
= 49.09%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0645) – 1
= 29.46%
March 13, 2023 calculations
Top border of price channel:
Exp(Y831)
= Exp(a + b × X831 + 2 × s)
= Exp(a + b × 1,209 + 2 × s)
= Exp(1.8467 + 0.0011 × 1,209 + 2 × 0.0645)
= Exp(3.2986)
= $27.08
Bottom border of price channel:
Exp(Y831)
= Exp(a + b × X831 – 2 × s)
= Exp(a + b × 1,209 – 2 × s)
= Exp(1.8467 + 0.0011 × 1,209 – 2 × 0.0645)
= Exp(3.0405)
= $20.92
October 15, 2024 calculations
Top border of price channel:
Exp(Y1,232)
= Exp(a + b × X1,232 + 2 × s)
= Exp(a + b × 1,791 + 2 × s)
= Exp(1.8467 + 0.0011 × 1,791 + 2 × 0.0645)
= Exp(3.9355)
= $51.19
Bottom border of price channel:
Exp(Y1,232)
= Exp(a + b × X1,232 – 2 × s)
= Exp(a + b × 1,791 – 2 × s)
= Exp(1.8467 + 0.0011 × 1,791 – 2 × 0.0645)
= Exp(3.6773)
= $39.54
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 49.09% per annum.
- OFG price at the close of November 19, 2024 was $43.44 and was inside the primary price channel.
Secondary Trend
Start date: July 17, 2024
End date: November 5, 2024
a = 4.8742
b = -0.0006
s = 0.0365
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0006) – 1
= -20.65%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0365) – 1
= 15.71%
July 17, 2024 calculations
Top border of price channel:
Exp(Y1,169)
= Exp(a + b × X1,169 + 2 × s)
= Exp(a + b × 1,701 + 2 × s)
= Exp(4.8742 + -0.0006 × 1,701 + 2 × 0.0365)
= Exp(3.8690)
= $47.90
Bottom border of price channel:
Exp(Y1,169)
= Exp(a + b × X1,169 – 2 × s)
= Exp(a + b × 1,701 – 2 × s)
= Exp(4.8742 + -0.0006 × 1,701 – 2 × 0.0365)
= Exp(3.7231)
= $41.39
November 5, 2024 calculations
Top border of price channel:
Exp(Y1,247)
= Exp(a + b × X1,247 + 2 × s)
= Exp(a + b × 1,812 + 2 × s)
= Exp(4.8742 + -0.0006 × 1,812 + 2 × 0.0365)
= Exp(3.7987)
= $44.64
Bottom border of price channel:
Exp(Y1,247)
= Exp(a + b × X1,247 – 2 × s)
= Exp(a + b × 1,812 – 2 × s)
= Exp(4.8742 + -0.0006 × 1,812 – 2 × 0.0365)
= Exp(3.6528)
= $38.58
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 20.65% per annum.
- OFG price at the close of November 19, 2024 was inside the secondary price channel.