Welcome to our dedicated page for OFG Bancorp news (Ticker: OFG), a resource for investors and traders seeking the latest updates and insights on OFG Bancorp stock.
OFG Bancorp reports news as a diversified financial holding company for Oriental Bank and related financial services subsidiaries. The company operates under U.S., Puerto Rico and U.S. Virgin Islands banking laws, with retail and commercial banking, lending, wealth management, insurance, financial services and banking technology offered primarily in Puerto Rico and the U.S. Virgin Islands.
Recurring developments include quarterly earnings, loan and deposit trends, credit quality, net interest income, balance sheet management, and customer activity in products such as Libre, Elite and My Biz accounts. News also covers common stock dividends, share repurchase authorizations, debt ratings tied to Oriental Bank, and capital actions across the holding company and bank franchise.
OFG Bancorp (NYSE: OFG) reported strong 2Q24 results, with EPS diluted of $1.08, up 16.1% year-over-year. Total core revenues reached $179.4 million, a 5.2% increase from 2Q23. The company demonstrated robust performance metrics, including a net interest margin of 5.51% and a return on average assets of 1.82%. OFG's 'Digital First' strategy continues to drive growth in retail and business relationships. The bank implemented nearly half of its $50 million share buyback program, purchasing $24.3 million of OFG shares. Loans Held for Investment grew to $7.64 billion, up 7.3% year-over-year, while Customer Deposits increased to $9.60 billion. The company maintained strong capital ratios with a CET1 ratio of 14.29% and a Tangible Book Value of $24.18 per share.
OFG Bancorp (NYSE: OFG) is set to announce its second quarter 2024 financial results on Thursday, July 18, 2024, before the market opens. A conference call to discuss the results will follow at 10:00 AM ET. Participants can join the call toll-free at (800) 245-3047 or internationally at (203) 518-9708 using Conference ID: OFGQ224. Additionally, the call will be accessible live on OFG's website, with a webcast replay available shortly after the event. Pre-registration or software download may be required for the webcast.
OFG Bancorp (NYSE: OFG) declared a regular quarterly cash dividend of $0.25 per common share for the quarter ending June 30, 2024. The dividend will be payable on July 15, 2024, to shareholders of record on June 28, 2024, with an ex-dividend date of June 28, 2024.
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