OFG Bancorp Stock Price, News & Analysis

OFG Bancorp (NYSE: OFG) has announced a 50% increase in its regular quarterly cash dividend, raising it from $0.08 to $0.12 per common share for the quarter ending September 30, 2021. This dividend is payable on October 15, 2021 to shareholders of record as of September 30, 2021, with an ex-dividend date of September 29, 2021.

OFG Bancorp, now in its 57^th year, operates under U.S. and Puerto Rico banking regulations, offering a diverse range of financial products through its subsidiaries.

OFG Bancorp (NYSE: OFG) announced strong second quarter results for the period ending June 30, 2021. Earnings per share increased to $0.78 from $0.56 in the previous quarter and $0.39 year-over-year. New loan origination surged by 27.7%, totaling $673.6 million, while interest income saw a 2.2% rise to $113.5 million. The provision for credit losses benefited by $8.3 million due to improved asset quality, with net charge-offs at a low 0.13%. Despite a slight decline in net interest margin to 4.22%, the tangible book value per share rose to $18.13, reflecting positive capital management.

OFG Bancorp (NYSE: OFG) is set to release its second quarter 2021 financial results on Wednesday, July 21, 2021, before the market opens. A conference call will follow at 10:00 AM ET. Participants can join via the toll-free number (888) 562-3356 or the international line (973) 582-2700, using conference ID 573-9736. The call will also be available through OFG’s website at www.ofgbancorp.com, with a replay expected shortly after.

OFG Bancorp has operated for 57 years, providing various financial services primarily in Puerto Rico and the U.S. Virgin Islands.

OFG Bancorp (NYSE: OFG) has declared a regular quarterly cash dividend of $0.08 per common share for the quarter ending June 30, 2021. The dividend will be paid on July 15, 2021, to shareholders of record as of June 30, 2021, with an ex-dividend date set for June 29, 2021.

OFG Bancorp operates under U.S., Puerto Rico, and U.S. Virgin Islands banking regulations, with subsidiaries providing a wide range of financial services. This marks a consistent return of value to shareholders as the company approaches its 57th year in business.

OFG Bancorp (NYSE: OFG) reported robust first-quarter results for 2021, aided by federal stimulus and economic recovery in Puerto Rico. Key achievements include a 33% rise in EPS to $0.56, and improved loan metrics with new loan originations of $527.6 million. Total deposits surged to $8.72 billion, while non-interest expenses dropped to $77.7 million. The capital structure was enhanced by a 14% dividend increase and the redemption of preferred stock. Overall, performance metrics reflect strong core operations, positioning OFG well for ongoing economic revival.

OFG Bancorp (NYSE: OFG) is set to report its first quarter 2021 financial results on April 21, 2021, before the market opens. A conference call will follow at 10:00 AM ET. Participants can join the call via a toll-free line at (888) 562-3356 or internationally at (973) 582-2700, using the conference ID 319-4111. The call will also be streamed live on OFG’s website, with a replay available soon after. The financial holding company, operating for over 57 years, provides various banking and financial services primarily in Puerto Rico and the U.S. Virgin Islands.

OFG Bancorp (NYSE: OFG) has announced the redemption of all outstanding preferred stock series at a price of $25.00 per share. This includes 1,340,000 shares of Series A, 1,380,000 shares of Series B, and 960,000 shares of Series D, with redemption dates set for April 30, 2021, and July 15, 2021. CEO José Rafael Fernández stated that redeeming $92.0 million in preferred stock is part of their capital management strategy, expected to increase net income to shareholders by $6.5 million annually.

OFG Bancorp (NYSE: OFG) declared a quarterly cash dividend of $0.4453125 per share on its 7.125% Non-Cumulative Perpetual Preferred Stock, Series D, payable on April 15, 2021. The dividend is for the quarter ending March 31, 2021, with an ex-dividend date of March 30, 2021. This decision reflects OFG's ongoing commitment to returning value to shareholders amidst its diversified financial services operations across Puerto Rico and the U.S. Virgin Islands.

OFG Bancorp (NYSE: OFG) has announced a 14.3% increase in its regular quarterly cash dividend, raising it from $0.07 to $0.08 per common share, effective for the quarter ending March 31, 2021. The dividend will be payable on April 15, 2021, to shareholders on record as of March 31, 2021, with an ex-dividend date of March 30, 2021. CEO Jose Rafael Fernandez attributed this increase to the company’s earnings and capital growth, demonstrating resilience despite the challenges posed by COVID-19.