OFG Bancorp Q2 EPS Jumps 21% on Loan Growth, Deposit Strength
OFG sits 40% above its 52-week low of $35.71.
Summary
OFG Bancorp delivered a strong Q2, with EPS rising 20.9% year-over-year to $1.39 on core revenue of $190.3 million, up 4.5%. The beat was driven by higher loan balances, increased rates, and broad deposit growth from government, commercial, and retail customers. This follows a robust Q1 that included a 17% dividend hike and $44.5 million in buybacks, reinforcing a pattern of disciplined capital returns. The CET1 ratio remained solid at 14.07%, and management pointed to a stable Puerto Rico economy supported by federal funds and a strong labor market. With the stock trading near its 52-week high and a consensus hold rating, the results confirm operational momentum but leave limited upside surprise relative to the $50.50 median price target.
At the time of this announcement, OFG was trading at $50.00 on NYSE in the Finance sector, with a market capitalization of approximately $2.1B. The 52-week trading range was $35.71 to $51.42. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.