OFG Bancorp Stock Price, News & Analysis

OFG Bancorp (NYSE: OFG) reported strong third-quarter results for 2022, with diluted EPS of $0.87, up from $0.84 in 2Q22 and $0.81 in 3Q21. Core revenues increased to $156.8 million, a 7.2% growth quarter-over-quarter. Net interest income rose to $126.5 million, benefiting from expanded margins due to higher loan volumes. The company raised its quarterly cash dividend to $0.20 per share. Credit quality metrics showed an increase in net charge-offs to $11.3 million. Total assets decreased to $10.06 billion, while customer deposits fell to $8.84 billion from $9.02 billion in 2Q22.

OFG Bancorp (NYSE: OFG) will disclose its third quarter 2022 financial results on October 20, 2022, prior to market opening. The company will host a conference call on the same day at 10:00 AM ET to discuss the results. Investors can join by calling (800) 225-9448 (toll-free) or (203) 518-9708 (international) with Conference ID: OFGQ322. Live access is also available via www.ofgbancorp.com. OFG Bancorp has been operational for 58 years, serving Puerto Rico and the U.S. Virgin Islands.

OFG Bancorp (NYSE: OFG) announces a 33% increase in its quarterly cash dividend, raising it to $0.20 per share from $0.15. This change affects the quarter ending September 30, 2022. The new dividend is payable on October 17, 2022 to shareholders who hold stock as of September 30, 2022, with an ex-dividend date of September 29, 2022.

OFG Bancorp (NYSE: OFG) reported strong second-quarter results for the period ending June 30, 2022. EPS diluted increased to $0.84, up from $0.76 in Q1 2022 and $0.78 in Q2 2021. Total core revenues reached $146.3 million, compared to $136.4 million in Q1 2022. Key highlights include a net interest income of $115.1 million and significant growth in loans and deposits. Non-interest expenses rose to $85.3 million, driven by compliance and technology costs. Despite challenges, the Puerto Rico economy shows positive trends.

OFG Bancorp (NYSE: OFG) will announce its second quarter 2022 financial results on July 21, 2022, before the market opens. A conference call is scheduled for 10:00 AM ET the same day. Investors can participate via phone using the toll-free number (800) 459-5346 or the international number (203) 518-9544, with Conference ID OFGQ222. The call will also be streamed live on the company's website. OFG Bancorp has been operational for 58 years, offering various banking and financial services primarily in Puerto Rico and the U.S. Virgin Islands.

OFG Bancorp (NYSE: OFG) has declared a quarterly cash dividend of $0.15 per common share for the quarter ending June 30, 2022. This dividend will be payable on July 15, 2022 to shareholders on record as of June 30, 2022, with an ex-dividend date set for June 29, 2022. Operating for 58 years, OFG Bancorp is a diversified financial holding company primarily serving Puerto Rico and the U.S. Virgin Islands through its subsidiaries, which include Oriental Bank, Oriental Financial Services, and Oriental Insurance.

OFG Bancorp (NYSE: OFG) reported its 1Q22 financial results, achieving an EPS diluted of $0.76, up from $0.66 in 4Q21 and $0.56 in 1Q21. Total core revenues reached $136.4 million, slightly down from $141.0 million in the prior quarter. Key highlights include a net interest income of $105.2 million and a net charge-off rate of 0.04%. Customer deposits grew to $8.97 billion, while loans held for investment rose to $6.55 billion. The bank's CET1 ratio stands at 13.24%, following a share buyback of $33.5 million.

OFG Bancorp (NYSE: OFG) will release its first quarter 2022 financial results on April 21, 2022, before market opening. A conference call is scheduled for the same day at 10:00 AM ET. Investors can join the call using the toll-free number (800) 459-5346 or internationally at (203) 518-9544 with the conference ID OFGQ122. The call will also be streamed live via OFG's website, with a replay available shortly after.

OFG Bancorp, in operation for 58 years, serves Puerto Rico and the U.S. Virgin Islands through its subsidiaries.

OFG Bancorp (NYSE: OFG) announced a new stock repurchase plan authorized by its Board of Directors, totaling $100 million. This buyback is part of the company’s capital actions for 2022, reflecting a commitment to enhance shareholder value. Established for 58 years, OFG Bancorp operates primarily in Puerto Rico and the U.S. Virgin Islands, offering diverse financial services through its subsidiaries.