OFG Bancorp reports Q4 EPS $1.09, consensus 96c

Reports Q4 revenue $181.9M, consensus $176.15M…performance Metrics: Net interest margin of 5.40%, return on average assets of 1.75%, return on average tangible common stockholders’ equity of 16.71%, and efficiency ratio of 54.82%. Jose Rafael Fernandez, Chief Executive Officer, said: “The fourth quarter and last year reflected solid performance with strong financial results. 4Q24 EPS-diluted increased 11.2% year-over-year on a 3.6% increase in total core revenues. 2024 EPS increased 10.4% year-over-year on a 3.9% increase in total core revenues. We demonstrated consistent and excellent operational execution on our plans, with our Digital First strategy helping to grow our banking franchise and market share. Results also benefited from lower taxes, and we bought back 1.8 million shares in 2024. Thanks to our team members for their hard work and dedication. This is a great way to conclude the celebration of our 60th year in business bringing progress to all our stakeholders.”