Welcome to our dedicated page for OFG Bancorp news (Ticker: OFG), a resource for investors and traders seeking the latest updates and insights on OFG Bancorp stock.
OFG Bancorp (symbol: OFG) is a prominent financial holding company headquartered in Dallas, Texas, United States. Through its comprehensive network of subsidiaries, OFG Bancorp delivers a wide array of banking and financial services, catering primarily to the needs of clients in Puerto Rico. The company operates through three main segments: Banking, Wealth Management, and Treasury.
The Banking segment encompasses a variety of services including commercial, consumer, auto, and mortgage lending, along with checking and savings accounts. This segment aims to provide robust financial solutions to both individual consumers and businesses, ensuring reliable access to credit and efficient management of financial assets.
The Wealth Management segment offers an extensive range of financial planning, insurance, investment brokerage, and corporate and individual trust and retirement services. This segment focuses on helping clients strategically manage their wealth, plan for retirement, and safeguard their financial future through well-informed investment choices and personalized advisory services.
The Treasury segment deals with the company's asset-liability management, funding activities, and investment portfolio management. This segment aims to optimize the company's financial performance by managing liquidity and mitigating risks associated with interest rates and currency fluctuations.
OFG Bancorp's recent achievements include expanding their digital banking services, forming strategic partnerships to enhance service offerings, and consistently delivering strong financial performance. Their commitment to innovation and customer-centric approach has established them as a leading financial institution in the region.
The company's dedication to maintaining a solid financial foundation is evident in its consistent profitability and prudent risk management practices. As a result, OFG Bancorp continues to earn the trust of its clients and stakeholders alike.
OFG Bancorp (NYSE: OFG) has announced a 20% increase in its regular quarterly cash dividend to $0.30 per common share, up from the previous $0.25 per share. The increased dividend is for the quarter ending March 31, 2025, and will be payable on April 15, 2025, to shareholders of record as of March 31, 2025. This dividend increase is part of OFG's capital actions for the year.
OFG Bancorp reported strong financial results for Q4 and full-year 2024. Q4 2024 earnings per share reached $1.09, up from $1.00 in Q3 2024 and $0.98 in Q4 2023. Total core revenues were $181.9 million in Q4 2024, compared to $174.1 million in Q3 2024.
For the full year 2024, diluted EPS was $4.23, a 10.4% increase from $3.83 in 2023. Annual core revenues grew 3.9% to $709.6 million. The bank demonstrated strong operational execution with its Digital First strategy, growing its banking franchise and market share.
Key Q4 metrics included a net interest margin of 5.40%, return on average assets of 1.75%, and an efficiency ratio of 54.82%. Total loans held for investment reached $7.79 billion, a 3.4% year-over-year increase. The company continued its share buyback program, acquiring $45.9 million of common shares in Q4 2024.
OFG Bancorp (NYSE: OFG) has announced it will release its fourth quarter 2024 financial results on Wednesday, January 22, 2025, before market opening. The company will host a conference call at 10:00 AM ET the same day to discuss the results. Investors can join via phone using toll-free number (800) 225-9448 or international number (203) 518-9708 with Conference ID: OFGQ424. A live webcast will be available on OFG's website, with a replay accessible shortly after the call.
OFG Bancorp (NYSE: OFG) announced that its Board of Directors has declared a regular quarterly cash dividend of $0.25 per common share for the quarter ending December 31, 2024. The dividend will be paid on January 15, 2025, to shareholders of record as of December 31, 2024. The ex-dividend date is set for December 31, 2024.
OFG Bancorp (NYSE: OFG) has announced that its Board of Directors has approved a new $50 million stock repurchase authorization plan. This open-ended plan is supplementary to the company's previously authorized stock repurchase program and is part of OFG's broader capital actions strategy.
OFG Bancorp (NYSE: OFG) announced plans to ring the NYSE opening bell on October 25, celebrating two significant milestones: the 60th anniversary of Oriental Bank and 30 years of NYSE listing. Since its humble beginnings in 1964 as one of Puerto Rico's smallest banks, Oriental Bank has grown to become one of the island's top three financial institutions. The company's success is attributed to its dedicated teams and 'Digital First' strategy, focusing on efficient self-service technology to expand customer base and engagement. Since its NYSE listing in 1994, OFG Bancorp has achieved a remarkable 2,522% total return, outperforming the S&P 500's 2,112% return.
OFG Bancorp (NYSE: OFG) reported its 3Q24 results with an EPS diluted of $1.00, compared to $1.08 in 2Q24 and $0.95 in 3Q23. Total core revenues reached $174.1 million, up from $172.2 million in 3Q23. The company demonstrated solid performance with a 5.3% year-over-year increase in EPS-diluted and a 1.1% increase in total core revenues.
Key highlights include a net interest margin of 5.43%, return on average assets of 1.66%, and an efficiency ratio of 52.60%. Loans Held for Investment grew to $7.75 billion, a 6.7% increase year-over-year. Customer Deposits stood at $9.53 billion, while the CET1 ratio improved to 14.37%. The company also reported an increase in Tangible Book Value per share to $26.15.
OFG Bancorp (NYSE: OFG) has announced it will release its third quarter 2024 financial results on Wednesday, October 16, 2024, before the market opens. The company will also host a conference call at 10:00 AM ET on the same day to discuss the results. Interested parties can join the call using the following details:
- Toll-Free Phone Number: (800) 225-9448
- International Phone Number: (203) 518-9708
- Conference ID: OFGQ324
Additionally, the call will be accessible live on OFG's website at www.ofgbancorp.com. A webcast replay will be available shortly after the call concludes. Participants are encouraged to visit the webcast link in advance to pre-register or download any necessary software.
OFG Bancorp (NYSE: OFG) has announced a regular quarterly cash dividend of $0.25 per common share for the quarter ending September 30, 2024. The dividend will be payable on October 15, 2024, to shareholders of record as of September 30, 2024. The ex-dividend date is also set for September 30, 2024. This declaration by the Board of Directors demonstrates OFG Bancorp's commitment to providing consistent returns to its shareholders, maintaining its dividend policy despite the challenging economic environment.
OFG Bancorp (NYSE: OFG) reported strong 2Q24 results, with EPS diluted of $1.08, up 16.1% year-over-year. Total core revenues reached $179.4 million, a 5.2% increase from 2Q23. The company demonstrated robust performance metrics, including a net interest margin of 5.51% and a return on average assets of 1.82%. OFG's 'Digital First' strategy continues to drive growth in retail and business relationships. The bank implemented nearly half of its $50 million share buyback program, purchasing $24.3 million of OFG shares. Loans Held for Investment grew to $7.64 billion, up 7.3% year-over-year, while Customer Deposits increased to $9.60 billion. The company maintained strong capital ratios with a CET1 ratio of 14.29% and a Tangible Book Value of $24.18 per share.
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