Financial Holding Company OFG Bancorp's Q2 EPS rises 6.5%

Reuters
07-17
Financial Holding Company <a href="https://laohu8.com/S/OFG">OFG Bancorp</a>'s <a href="https://laohu8.com/S/QTWO">Q2</a> EPS rises 6.5%

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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