Ofg Bancorp  (OFG)
Other Ticker:  
    Sector  Financial    Industry Regional Banks
   Industry Regional Banks
   Sector  Financial
Price: $34.8200 $1.38 4.127%
Day's High: $34.83 Week Perf: 2.2 %
Day's Low: $ 33.19 30 Day Perf: -0.29 %
Volume (M): 206 52 Wk High: $ 39.04
Volume (M$): $ 7,166 52 Wk Avg: $31.73
Open: $33.40 52 Wk Low: $22.34

 Market Capitalization (Millions $) 1,653
 Shares Outstanding (Millions) 47
 Employees 1,466
 Revenues (TTM) (Millions $) 629
 Net Income (TTM) (Millions $) 182
 Cash Flow (TTM) (Millions $) 198
 Capital Exp. (TTM) (Millions $) 18

Ofg Bancorp

The Company provides comprehensive banking and financial services to its clients through a complete range of banking and financial solutions, including commercial, consumer, auto, and mortgage lending; checking and savings accounts; financial planning, insurance, financial services, and investment brokerage; and corporate and individual trust and retirement services. The Company operates through three major business segments: Banking, Wealth Management, and Treasury, differentiating the Oriental brand through customer segmentation and innovative solutions, primarily in Puerto Rico. The Company provides these services through various subsidiaries including, a commercial bank, Oriental Bank, a securities broker-dealer, Oriental Financial Services Corp. (“Oriental Financial Services”), an insurance agency, Oriental Insurance, LLC (“Oriental Insurance”), previously known as Oriental Insurance Inc., and a retirement plan administrator, Oriental Pension Consultants, Inc. (“OPC”), previously known as Caribbean Pension Consultants, Inc. All of our subsidiaries are based in San Juan, Puerto Rico, except for OPC which is based in Boca Raton, Florida. The Company has 48 branches in Puerto Rico. The Company’s long-term goal is to strengthen its banking and financial services franchise by expanding its lending businesses, increasing the level of integration in the marketing and delivery of banking and financial services, maintaining effective asset-liability management, growing non-interest revenue from banking and financial services, and improving operating efficiencies.

The Company is a publicly-owned financial holding company incorporated on June 14, 1996 under the laws of the Commonwealth of Puerto Rico, providing a full range of banking and financial services through its subsidiaries. The Company is subject to the provisions of the U.S. Bank Holding Company Act of 1956, as amended, (the “BHC Act”) and accordingly, subject to the supervision and regulation of the Board of Governors of the Federal Reserve System (the “Federal Reserve Board”).

The Company’s strategy involves:
Strengthening its banking and financial services franchise by expanding its ability to attract deposits and build relationships with customers by refining the service delivery and providing innovative banking technologies for day-to-day customer transactions, and achieving sustainable levels of differentiation in the market;
Focusing on greater growth in commercial, consumer and mortgage lending, trust and financial services and insurance products;
Improving operating efficiencies, and continuing to maintain effective asset-liability management;
Implementing a broad ranging effort to instill in employees and make customers aware of the Company’s determination to effectively serve and advise its customer base in a responsive and professional manner; and
Matching its portfolio of investment securities with the related funding to achieve favorable spreads, and primarily investing in U.S. government-sponsored agency obligations.

Together with a highly experienced group of senior and mid-level executives and the benefits from the acquisitions of Eurobank Puerto Rico and the Puerto Rico operations of Banco Bilbao Vizcaya Argentaria, S.A. (“BBVA”), this strategy has resulted in sustained growth in the Company’s deposit-taking activities, commercial, consumer and mortgage lending and financial service activities, allowing the Company to distinguish itself in a highly competitive industry. The Company is not immune from general and local financial and economic conditions. Past experience is not necessarily indicative of future performance, but given market uncertainties and on a reasonable time horizon of three to five years, this strategy is expected to maintain its steady progress towards the Company’s long-term goal.

The Company’s principal funding sources are branch deposits, securities sold under agreements to repurchase, Federal Home Loan Bank (“FHLB”) advances, Federal Reserve Bank (“FRB”) advances, wholesale deposits, and subordinated capital notes. Through its branch network, Oriental Bank offers personal non-interest and interest-bearing checking accounts, savings accounts, certificates of deposit, individual retirement accounts (“IRAs”) and commercial non-interest bearing checking accounts. The FDIC insures Oriental Bank’s deposit accounts up to applicable limits. Management makes retail deposit pricing decisions periodically, adjusting the rates paid on retail deposits in response to general market conditions and local competition. Pricing decisions take into account the rates being offered by other local banks, the London Interbank Offered Rate (“LIBOR”), and mainland U.S. market interest rates.

The Company has three reportable segments: Banking, Wealth Management, and Treasury. Management established the reportable segments based on the internal reporting used to evaluate performance and to assess where to allocate resources. Other factors such as the Company’s organizational structure, nature of products, distribution channels and economic characteristics of the products were also considered in the determination of the reportable segments. The Company measures the performance of these reportable segments based on pre-established annual goals involving different financial parameters such as net income, interest rate spread, loan production, and fees generated.

   Company Address: 254 Mu?oz Rivera Avenue San Juan 918
   Company Phone Number: 771-6800   Stock Exchange / Ticker: NYSE OFG

Customers Net Income grew by OFG's Customers Net Profit Margin grew to

19.13 %

10.48 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


Stock Performances by Major Competitors

5 Days Decrease / Increase
BK        2.18% 
CFG        3% 
FCNCA        1.94% 
FITB        4.71% 
NTRS   -2.7%    
TCBI        3.99% 
• View Complete Report

Ofg Bancorp

OFG Bancorp's Robust Financial Performance: Revenue and Profits Soar in Recent Fiscal Period

OFG Bancorp, the financial holding company for Oriental Bank, has reported moderate revenue improvement in the fiscal period closing December 31, 2023. Revenue increased by 1.722% to $162.53 million compared to the previous year. Earnings also grew modestly by 1.69% to $0.98 per share year on year. This positive performance is notable as many businesses in the regional banks industry are currently facing headwinds and battling with retracting revenue and dwindling orders.
Furthermore, OFG Bancorp's revenue advanced by 4.149% from $156.06 million in the preceding period, and its income improved by 3.52% from $0.95 per share. The bottom-line of $46.597 million in the most recent fiscal period also increased by 0.5% from net earnings of $46.367 million reported in the same period a year ago. However, the net margin eased to 28.67% as the company focused on improving sales in the most recent fiscal period. Operating earnings improved slightly by 0.43% to $68.432 million.

Stock Transactions

OFG Bancorp Announces New $50 Million Share Repurchase Plan to Enhance Share Value

Published Wed, Jan 31 2024 9:15 PM UTC

OFG Bancorp, a diversified financial holding company operating under U.S., Puerto Rico, and U.S. Virgin Islands banking laws and regulations, recently announced its Board of Directors' approval of a new $50 million stock repurchase authorization plan. This open-ended plan replaces the prior one, which still had $17.2 million in remaining authorization. In this arti...

Ofg Bancorp

Ofg Bancorp's Strong Financial Performance: Revenue Soars by 4.03% in Q3 2023

Ofg Bancorp, a regional bank, has experienced a notable increase in its share value, witnessing a gain of 7.12% over the past 5 trading days and a significant growth of 27.91% over the past 12 months. Despite being 7.5% short of its 52-week high, the company's positive financial results suggest a promising future. This article aims to analyze the recently reported financial data of Ofg Bancorp, evaluating its revenue growth, earnings per share (EPS), profit margins, and accounts receivable, while considering their potential impact on the company's future prospects.
Financial Performance Overview:
For the period between July and September 30, 2023, Ofg Bancorp's revenue rose by 4.03% to $156.06 million, indicating a steady growth compared to $150.01 million in the corresponding period a year earlier. This growth suggests that the company is successfully generating higher income, potentially contributing to its overall profitability.

Ofg Bancorp

OFG Bancorp Reports Strong Revenue Uptick in Recent Fiscal Period, Outpacing Regional Bank Sector Counterparts

OFG Bancorp, a regional banking company, recently released its financial results for the most recent fiscal period, and the numbers are looking solid. The company's revenue increased by 6.956% to $154.67 million compared to $144.61 million in the same period last year. Additionally, the company recorded a profitability advance of 10.71% with earnings per share reaching $0.93, compared to $0.84 in the previous year's quarter.
In comparison to its peers in the Regional Banks sector, OFG's revenue growth in the second quarter of 2023 is quite favorable. While its contemporaries experienced an average top-line advance of 4.70% during the same period, OFG managed to outperform them with its 6.956% growth. However, it should be noted that there was a slight revenue decrease of -0.438% from the prior period's $155.35 million. Net profit per share also decreased by -3.12% from $0.96 per share.

Ofg Bancorp

Impressive Earnings Surge by 26.32% Propels Ofg Bancorp's Strong Financial Performance in Q1 2023

OFG Bancorp: Riding High on Strong Earnings Growth
OFG Bancorp, the financial services giant, recently released its financial report for the first quarter of 2023, which cited impressive growth in earnings per share and revenue. The report stated that earnings per share had increased by a whopping 26.32% to $0.96 per share. Meanwhile, revenue had seen a significant increment of 14.864% to $155.35 million in the same period. The impressive growth in earnings and revenue indicates that OFG Bancorp is well-positioned to continue its formidable financial performance.
Moreover, as compared to the same period last year, the company's earnings per share had decreased by -0.73% from $0.97 per share. However, the first quarter of 2023 saw a significant surge in bottom-line, with net earnings of $46.229 million reported, indicating a 23.21% increase from the $37.521 million net earnings reported in the same period in the previous year. Such robust earnings growth indicates that OFG Bancorp's management is doing an exceptional job at navigating through the current economic challenges and positioning the company for sustained growth and success.


Ofg Bancorp's Segments
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  Company Estimates  
  Revenue Outlook
Ofg Bancorp does not provide revenue guidance.

Earnings Outlook
Ofg Bancorp does not provide earnings estimates.

Geographic Revenue Dispersion


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