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OFG Bancorp (OFG)
:OFG
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Earnings Data
Report Date
Jan 22, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.97Last Year’s EPS
0.98Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 19, 2018
|% Change Since: -0.81%
|Next Earnings Date:Jul 20, 2018
Earnings Call Sentiment|Neutral
The earnings call highlighted strong financial performance with growth in earnings, assets, and digital adoption. However, challenges such as reduced banking revenues due to regulatory changes and increased credit losses were noted. Overall, the sentiment is cautiously optimistic with a focus on continued growth and adaptation to economic conditions.Company Guidance
During OFG Bancorp's Q3 2024 earnings call, executives reported solid financial performance with earnings per share increasing by 5.3% year-over-year, driven by a 1.1% rise in total core revenues. The company maintained a strong net interest margin of 5.43% and reported total core revenues of $174.1 million. OFG's balance sheet showed total assets of $11.5 billion, a 12% increase from the previous year, with customer deposits at $9.5 billion and loans held for investment totaling $7.8 billion. The CET1 ratio was robust at 14.37%, despite a $2.7 million reduction in debit card interchange fees due to the Durbin amendment. Digital adoption metrics were impressive, with 95% of routine retail transactions conducted digitally and a 13% year-over-year growth in digital enrollment. The executives also highlighted strategic investments in U.S. guaranteed longer-duration securities to manage the anticipated lower rate environment, projecting a net interest margin outlook of 5.3% to 5.4% for the fourth quarter, considering recent Federal Reserve rate cuts.Earnings Growth
Earnings per share were up 5.3% year-over-year, with a 1.1% increase in total core revenues.
Asset Growth
Total assets grew to $11.5 billion, up 12% from a year ago and 2% from last quarter.
Digital Adoption
Digital enrollment grew by 13% year-over-year, with significant increases in digital loan payments (53%) and customer growth (4.6%).
Strong Loan Production
New loan production was $572 million, contributing to a 7% year-over-year increase in loans held for investment.
Capital Strength
The CET1 ratio was reported at 14.37%, indicating strong capital reserves.
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OFG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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OFG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 16, 2024 | $44.60 | $41.11 | -7.83% |
| Jul 18, 2024 | $42.57 | $42.51 | -0.14% |
| Apr 18, 2024 | $32.76 | $32.83 | +0.21% |
| Jan 24, 2024 | $35.01 | $35.51 | +1.43% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does OFG Bancorp (OFG) report earnings?
OFG Bancorp (OFG) is schdueled to report earning on Jan 22, 2025, TBA Not Confirmed.
What is OFG Bancorp (OFG) earnings time?
OFG Bancorp (OFG) earnings time is at Jan 22, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is OFG EPS forecast?
OFG EPS forecast for the fiscal quarter 2024 (Q4) is 0.97.
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