4. Oriental Financial Group Shares of Oriental Financial Group ( OFG) of San Juan, Puerto Rico, closed at $10.05 Wednesday, for a one-week decline of 19%. The shares were also down 19% year-to-date. The shares traded for 0.7 times tangible book value as of Wednesday's market close, according to SNL Financial. Oriental reported second-quarter net income available to common shareholders of $25.3 million, or 56 cents a share, increasing from $1.9 million, or 4 cents a share, in the first quarter, and a loss of $4.2 million, or 13 cents a share, in the second quarter of 2010. The second-quarter results included $9.1 million in gains on the sale of securities and a $3 million tax benefit. These items were partially offset by a $3.6 million loss on derivatives, "from the strategic decision, as previously announced, to sell Oriental's remaining swap options, purchase new swaps to manage interest rate exposure, and apply hedge accounting on them." The second-quarter provision for loan losses -- excluding loans covered by Federal Deposit Insurance Corp. loss-sharing guarantees -- was $3.8 million, which was the same as in the previous quarter, but down from $4.1 million a year earlier. The company reported that during the second quarter, total loans -- excluding those covered by FDIC loss-sharing -- increased 2% from the previous quarter, to $1.2 billion, "primarily due to a 14.6% increase in commercial loans." Following the company's second-quarter earnings release in July, KBW analyst Derek Hewett reiterated his "Outperform," or buy rating, for Oriental Financial Group, with a $16 price target, noting the loan growth "despite the difficult operating environment," and that its capital was "likely the highest on the island." Hewett also increased his 2012 earnings estimate to $1.65 a share, from $1.26. After completing a $30 million stock repurchase in June, Oriental's board of directors approve a "new program to purchase an additional $70 million of common stock in the open market," according to the company's second-quarter 10-Q filing. The shares trade for 6.6 times the consensus 2012 EPS estimate of $1.67, among analysts polled by FactSet. All four analysts covering Oriental Financial Group rate the shares a buy.