Overview
OFG Bancorp Q2 EPS rises to $1.15, up 6.5% year-over-year
Total core revenues grow 1.5% year-over-year to $182.2 mln
Co repurchased 186,024 shares, indicating strategic financial management
Outlook
OFG Bancorp emphasizes digital strategy and customer experience investments
Result Drivers
LOAN ORIGINATION - Strong loan origination contributed to increased EPS and core revenues, per CEO José Rafael Fernández
DIGITAL STRATEGY - Omnichannel digital strategy and new product launches improved customer experience and operational efficiencies
LIQUIDITY INCREASE - New borrowings and brokered deposits increased liquidity to fund strategic growth in commercial loans
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Core Revenue | $182.20 mln | ||
Q2 EPS | $1.15 | ||
Q2 CET1 Capital Ratio | 14.0% | ||
Q2 Investments | $2.78 bln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for OFG Bancorp is $48.00, about 8.3% above its July 16 closing price of $44.02
Press Release: ID:nBw5QDSlta
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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