OFG Bancorp Financial Performance and Growth

OFG Bancorp has seen significant growth in its assets, with a 25% increase from $10.5 billion in 2019 to $13.1 billion in 2020.

This growth is attributed to the company's strategic acquisitions and expansion into new markets.

OFG Bancorp's net income has also experienced a notable increase, rising from $104 million in 2019 to $123 million in 2020.

The company's efficiency ratio, which measures operating expenses as a percentage of revenue, decreased from 64.6% in 2019 to 59.4% in 2020.

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OFG Bancorp's revenue in 2024 was $629.44 million, a slight increase of 0.13% from the previous year.

The company's earnings were $198.17 million, a significant increase of 8.96% compared to the previous year.

In the first quarter of 2024, OFG Bancorp reported $1.0 in EPS diluted, while in the first quarter of 2021, the company's earnings per share diluted was $0.56.

OFG Bancorp's revenue in 2021 was $127.7 million, a slight drop from the previous quarter's $132.8 million.

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OFG Bancorp reported results for the third quarter ended September 30, 2024. The company's financial performance is a key indicator of its overall health and success.

Their revenue for the third quarter was not explicitly stated, but their revenue for 2024 was $629.44 million, an increase of 0.13% compared to the previous year. This suggests that the company's revenue has been relatively stable over the past year.

Earnings for the third quarter were not specified, but earnings for 2024 were $198.17 million, an increase of 8.96% compared to the previous year. This significant increase in earnings is a positive sign for the company's financial performance.

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OFG Bancorp reported its 2Q24 results, which is a significant financial milestone. The company's financial holding company is OFG Bancorp. OFG Bancorp is the parent company of Oriental Bank. OFG Bancorp reported EPS diluted of $1.0 for the second quarter ended June 30, 2024. This financial performance is a key indicator of the company's overall health.

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OFG Bancorp reported $127.7 million in revenue for the first quarter of 2021.

This is a slight drop from the fourth quarter of 2020, which benefited from seasonal annual insurance commissions and mortgage sales held back from the previous quarter.

The bank's revenue also included $1.6 million in interest income from unamortized yield from forgiven Paycheck Protection Program loans.

This interest income was a significant benefit to the bank's revenue, helping to offset a lower cost of deposits.

Earnings per share diluted were $0.56 in the first quarter of 2021, compared to $0.42 in the fourth quarter of 2020 and $0.00 in the first quarter of 2020.

The bank's CEO attributed the strong core performance to the continued success of the bank's strategies focusing on agility and service.

New loan originations totaled $527.6 million for the first quarter, with $401.4 million of that excluding Paycheck Protection Program loans.

This is a significant increase from the $485.3 million in new loan originations in the fourth quarter of 2020 and the $280.8 million in the first quarter of 2020.

The bank's net loans were $6.43 billion at the end of the first quarter, slightly lower than the $6.5 billion at the end of the fourth quarter of 2020.

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OFG Bancorp, based in San Juan, Puerto Rico, is a banking institution with deep roots in the Caribbean financial landscape. It has been around since 1964, initially under a different name, and has steadily evolved over the years.

The company operates primarily through its principal subsidiary, Oriental Bank, which offers a robust portfolio of services tailored to both retail and commercial clients.

Through its network of branches and ATMs, OFG provides essential banking services such as checking and savings accounts, personal and commercial loans, credit cards, and insurance products. It aims to provide seamless banking experiences to its customers.

A key aspect of its strategy has been a strong focus on customer service and technological innovation. This allows it to stay competitive in the market.

OFG Bancorp continuously seeks to enhance its product offering and operational capabilities, aiming to align with the ever-evolving financial preferences of its clientele. This is crucial in adapting to the regulatory and economic conditions of Puerto Rico and the wider Caribbean region.

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OFG Bancorp has a history of increasing its regular quarterly cash dividend, with the most recent increase being 20% to $0.30 per common share.

The company's dividend payout ratio is a relatively low 0.24, indicating that it has a strong financial position to support its dividend payments.

OFG Bancorp has a 3-year dividend growth rate of 35.7%, which is a significant increase over the past few years.

Here are some key dividend metrics for OFG Bancorp:

OFG Bancorp also has a significant share buyback program, with a 3-year average share buyback ratio of 2.9.

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OFG Bancorp's financial strength is a mixed bag. The company's Cash-To-Debt ratio is a healthy 1.7, indicating a strong ability to cover its debt obligations.

The Equity-to-Asset ratio is relatively low at 0.11, suggesting that the company's assets are not adequately supported by shareholder equity. On the other hand, the Debt-to-Equity ratio of 0.28 is not alarming, indicating that the company's debt levels are manageable.

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OFG Bancorp's Piotroski F-Score is 6 out of 9, indicating some concerns about the company's financial health. However, the Beneish M-Score is -2.67, which suggests that the company is not engaging in accounting manipulation.

In terms of growth, OFG Bancorp's 3-Year Revenue Growth Rate is a respectable 13.3%, outpacing the industry average. The 3-Year FCF Growth Rate is a robust 44.2%, indicating strong cash flow growth.

OFG Bancorp's financial strength is a reflection of its ability to generate revenue and manage its debt. In 2024, the company's revenue was $629.44 million.

The company's cash-to-debt ratio is a key indicator of its financial health, and OFG Bancorp's ratio is 1.7, which is a strong indication of its ability to meet its short-term obligations.

OFG Bancorp's equity-to-asset ratio is 0.11, which is relatively low compared to other financial institutions. This suggests that the company may be taking on more debt to finance its operations.

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The company's debt-to-equity ratio is 0.28, which is a relatively low ratio compared to other companies in the industry. This indicates that OFG Bancorp is not over-leveraging itself.

Here is a summary of OFG Bancorp's financial ratios:

OFG Bancorp's Piotroski F-Score is 6/9, which suggests that the company has a strong financial position. The Beneish M-Score is -2.67, which indicates that the company is less likely to be involved in financial manipulation.

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In the Growth Rank section, we can see that a company has achieved a 3-Year Revenue Growth Rate of 13.3%, which is a significant indicator of its financial health.

This growth rate is 44.2% higher than its 3-Year FCF Growth Rate, which suggests that the company's revenue is growing faster than its free cash flow.

The company's 3-Year EPS without NRI Growth Rate is 14.3%, indicating a steady increase in its earnings per share over the past three years.

However, its 3-Year Book Growth Rate is only 8.6%, which may indicate a slower growth in its book value compared to its revenue.

Here's a breakdown of the company's growth rates:

These growth rates provide valuable insights into the company's financial performance and help investors make informed decisions.

Analysts are optimistic about OFG stock, with an average rating of "Buy" from 3 experts.

The 12-month stock price forecast is a significant increase of 17.68% from the latest price, aiming for $50.0.

Analysts are cautiously optimistic about loan growth, citing the improvement in Puerto Rico's unemployment rate as a positive sign.

However, other economic metrics are mixed, which may impact loan growth.

OFG Bancorp's stock has risen in response to the company's earnings beat, with the CEO and vice chair, Jose Rafael Fernandez, discussing the company's performance and Puerto Rico's economic recovery.

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OFG Bancorp has a significant revenue, with a value of $711.689 million (TTM). This indicates a substantial financial performance.

The company's earnings per share (EPS) over the past four quarters is $4.22, which is a respectable figure.

OFG Bancorp's stock has a beta of 0.83, suggesting that it tends to move in the same direction as the overall market, but with lower volatility.

Here's a summary of the key statistics:

The company's 3-Year Sharpe Ratio is 0.49, indicating a moderate level of risk-adjusted return.

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The company's revenue over the past four quarters is a staggering $711.689 million.

The earnings per share (EPS) over the past four quarters is $4.22, indicating a strong profit margin.

A beta of 0.83 suggests that the company's stock is less volatile than the overall market.

The 3-Year Sharpe Ratio of 0.49 indicates that the company's returns have been relatively consistent over the past three years.

The 3-Year Sortino Ratio of 0.89 suggests that the company's returns have been relatively stable, with fewer extreme losses.

The company's volatility is relatively high at 28.56%.

The 14-Day RSI of 45.95 indicates that the stock is currently in a neutral state, neither overbought nor oversold.

The 14-Day ATR of $0.989772 suggests that the stock's price movement has been relatively stable over the past two weeks.

The 20-Day SMA of $42.582 indicates the stock's short-term trend.

The 12-1 Month Momentum of 17.92% suggests that the stock's price has been increasing over the past year.

Here's a summary of the company's key statistics: