OFG Bancorp Stock Price, News & Analysis

OFG Bancorp has announced a quarterly cash dividend of $0.22 per common share, reflecting its ongoing commitment to returning value to shareholders. This dividend will be paid for the quarter ending June 30, 2023, with a payment date of July 17, 2023. Shareholders must be on record by June 30, 2023, with an ex-dividend date set for June 29, 2023. As OFG Bancorp reaches its 59th year of operation, it continues to provide a diverse range of financial services in Puerto Rico and the U.S. Virgin Islands, reinforcing its position in the financial sector.

OFG Bancorp (NYSE: OFG) reported its 1Q23 results with a diluted EPS of $0.96, a slight decline from $0.97 in 4Q22 but higher than $0.76 in 1Q22. Total core revenues were $164.4 million, down from $168.3 million in 4Q22 and up from $136.4 million in 1Q22. Net interest margin stood at 5.89%, while total interest income reached $149.0 million. The bank maintained stable deposit balances at $8.57 billion. The return on average assets was 1.87% and the efficiency ratio improved to 54.87%. Although total provision for credit losses increased to $9.4 million, credit quality metrics revealed net charge-offs decreased to $10.1 million. OFG’s capital ratios showed improvements, with a CET1 ratio of 14.07%.

OFG Bancorp (NYSE: OFG) will announce its first quarter 2023 financial results on April 20, 2023, before market opening. A conference call will take place at 10:00 AM ET the same day, accessible via telephone or through OFG’s website. Key contact numbers include a toll-free line at (800) 225-9448 and an international line at (203) 518-9708, with Conference ID OFGQ123. Founded in 1964, OFG operates primarily in Puerto Rico and the U.S. Virgin Islands, offering a diverse range of financial services through its subsidiaries. Webcast replay will be available shortly after the call.

OFG Bancorp (NYSE: OFG) reported a strong financial performance for Q4 and full year 2022. In Q4, EPS diluted rose to $0.97, up from $0.87 in Q3. Total core revenues hit $168.3 million, a 7.3% increase from Q3. For 2022, EPS diluted increased to $3.44 from $2.81. Key highlights include net interest income of $135.3 million and a return on average assets of 1.86%. However, total customer deposits decreased to $8.56 billion.

OFG Bancorp (NYSE: OFG) announced a 10% increase in its quarterly cash dividend, raising it from $0.20 to $0.22 per common share for the quarter ending March 31, 2023. This dividend increase represents the company's commitment to returning capital to shareholders. The dividend payment date is set for April 17, 2023, with an ex-dividend date of March 30, 2023, and it will be payable to holders of record as of March 31, 2023. This strategic move is part of OFG's capital actions for 2023.

OFG Bancorp (NYSE: OFG) will announce its fourth quarter 2022 financial results on January 26, 2023, before market opening. A conference call is scheduled for 10:00 AM ET the same day, accessible via a toll-free number (800) 579-2543 or internationally at (203) 518-9708 using Conference ID: OFGQ422. The call will also stream live on OFG Bancorp's website, with a replay available shortly after. OFG Bancorp is a diversified financial holding company operating in Puerto Rico and the U.S. Virgin Islands, focusing on banking, lending, and wealth management.