Oriental Financial Group (NYSE:OFG) Estimates Through 2012

After talking to the leadership at Oriental Financial Group (NYSE:OFG), FBR Capital maintains their "Outperform" rating on the company, while adjusting their EPS estimates on them through 2012.

FBR said, "After reviewing Oriental's recent filings and vetting concerns disclosed in OFG's 3Q10 results with the management team, we are updating our core 2010, 2011, and 2012 estimates to $0.93, $1.10, and $1.81 from $1.38, $1.58, and $1.66, respectively. The reduction in our 2010 and 2011 estimates can be traced back to the company's disappointing 3Q10 results that included an unexpected net interest margin contraction in the quarter and an additional write-down of the company's Balta CMO."

Oriental Financial Group closed Monday at $11.84, down $0.11, or 0.92 percent. FBR has a price target of $18 on them.