Upcoming Dividend • Jun 25
Upcoming dividend of US$0.35 per share Eligible shareholders must have bought the stock before 30 June 2026. Payment date: 15 July 2026. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (4.4%). Announcement • Jun 22
OFG Bancorp to Report Q2, 2026 Results on Jul 21, 2026 OFG Bancorp announced that they will report Q2, 2026 results Pre-Market on Jul 21, 2026 Declared Dividend • May 20
First quarter dividend of US$0.35 announced Shareholders will receive a dividend of US$0.35. Ex-date: 30th June 2026 Payment date: 15th July 2026 Dividend yield will be 3.0%, which is lower than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 1.0% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 23
OFG Bancorp Declares Regular Quarterly Common Stock Dividend for the Quarter Ending June 30, 2026, Payable on July 15, 2026 OFG Bancorp announced its Board of Directors declared a regular quarterly cash dividend of $0.35 per common share for the quarter ending June 30, 2026. The dividend is payable July 15, 2026, to holders of record at June 30, 2026. Announcement • Mar 23
OFG Bancorp to Report Q1, 2026 Results on Apr 21, 2026 OFG Bancorp announced that they will report Q1, 2026 results Pre-Market on Apr 21, 2026 Announcement • Mar 05
OFG Bancorp, Annual General Meeting, Apr 22, 2026 OFG Bancorp, Annual General Meeting, Apr 22, 2026. Announcement • Jan 22
OFG Bancorp Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2025 OFG Bancorp reported net charge-offs for the fourth quarter ended December 31, 2025. For the quarter, the company reported net charge-offs of $26,873,000 against $15,862,000 reported a year ago. Announcement • Dec 22
OFG Bancorp to Report Q4, 2025 Results on Jan 22, 2026 OFG Bancorp announced that they will report Q4, 2025 results Pre-Market on Jan 22, 2026 Announcement • Nov 04
OFG Bancorp Declares Regular Quarterly Cash Dividend for the Quarter Ending December 31, 2025, Payable on January 15, 2026 OFG Bancorp announced its board of directors declared a regular quarterly cash dividend of $0.30 per common share for the quarter ending December 31, 2025. The dividend is payable January 15, 2026, to holders of record at December 31, 2025. Announcement • Oct 22
OFG Bancorp Reports Net Charge-Offs for the Third Quarter Ended September 30, 2025 OFG Bancorp reported net charge-offs for the third quarter ended September 30, 2025. For the quarter, the company reported net charge-offs of $20.2 million (1.00% of average loans) compared to $12.8 million (0.64%) in second quarter 2025 and $17.1 million (0.90%) in third quarter 2024. Announcement • Sep 16
OFG Bancorp to Report Q3, 2025 Results on Oct 22, 2025 OFG Bancorp announced that they will report Q3, 2025 results on Oct 22, 2025 Announcement • Jul 31
OFG Bancorp Declares Regular Quarterly Cash Dividend for the Quarter Ending September 30, 2025, Payable on October 15, 2025 OFG Bancorp announced its Board of Directors declared a regular quarterly cash dividend of $0.30 per common share for the quarter ending September 30, 2025. The dividend is payable October 15, 2025, to holders of record at September 30, 2025. Announcement • Jun 23
OFG Bancorp to Report Q2, 2025 Results on Jul 17, 2025 OFG Bancorp announced that they will report Q2, 2025 results Pre-Market on Jul 17, 2025 Announcement • Mar 26
OFG Bancorp to Report Q1, 2025 Results on Apr 23, 2025 OFG Bancorp announced that they will report Q1, 2025 results Pre-Market on Apr 23, 2025 Announcement • Mar 20
OFG Bancorp, Annual General Meeting, Apr 30, 2025 OFG Bancorp, Annual General Meeting, Apr 30, 2025. Announcement • Jan 30
OFG Bancorp Increases Regular Quarterly Common Stock Cash Dividend for the Quarter Ending March 31, 2025, Payable on April 15, 2025 OFG Bancorp announced its Board of Directors increased the regular quarterly cash dividend by 20% to $0.30 per common share from $0.25 per share, for the quarter ending March 31, 2025, as part of OFG’s capital actions this year. The dividend is payable April 15, 2025, to holders of record at March 31, 2025. Announcement • Jan 22
OFG Bancorp Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2024 OFG Bancorp reported net charge-offs for the fourth quarter ended December 31, 2024. For the quarter, the company reported net charge-offs of $15.9 million (0.82% of average loans) compared to $16.3 million (0.88%) in fourth quarter 2023. Announcement • Dec 23
OFG Bancorp to Report Q4, 2024 Results on Jan 22, 2025 OFG Bancorp announced that they will report Q4, 2024 results Pre-Market on Jan 22, 2025 Recent Insider Transactions • Nov 10
Independent Director recently sold €432k worth of stock On the 6th of November, Jorge Colon-Gerena sold around 10k shares on-market at roughly €43.24 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €8.6m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €43.00, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 99% over the past three years. Declared Dividend • Oct 30
Third quarter dividend of US$0.25 announced Shareholders will receive a dividend of US$0.25. Ex-date: 31st December 2024 Payment date: 15th January 2025 Dividend yield will be 2.5%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by earnings (23% payout ratio) and is expected to be well covered in 3 years' time (25% forecast payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 1.8% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Oct 23
OFG Bancorp Announces Retirement of Ganesh Kumar as Chief Strategy Officer, U.S. Business, Effective December 2, 2024 On October 18, 2024, after 20 years of dedicated service to OFG Bancorp, Mr. Ganesh Kumar entered into that certain Separation and Retirement Agreement with the Company in connection with his retirement as the Company’s Chief Strategy Officer, U.S. Business, effective December 2, 2024. Mr. Kumar has been an invaluable member of the Company’s executive team, playing a crucial role in the growth and success of Oriental. During his tenure he co-architected Company’s Digital First strategy and led numerous initiatives, including major bank acquisitions, the Company’s retail banking transformation and the establishment and growth of the Company’s US lending business, leaving a lasting impact on the Company. Reported Earnings • Oct 16
Third quarter 2024 earnings released: EPS: US$1.01 (vs US$0.95 in 3Q 2023) Third quarter 2024 results: EPS: US$1.01 (up from US$0.95 in 3Q 2023). Revenue: US$153.4m (down 1.7% from 3Q 2023). Net income: US$47.0m (up 4.7% from 3Q 2023). Profit margin: 31% (up from 29% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Oct 01
High number of new directors Director Bobby Garcia-Rodriguez was the last director to join the board, commencing their role in 2024. Announcement • Sep 24
OFG Bancorp to Report Q3, 2024 Results on Oct 16, 2024 OFG Bancorp announced that they will report Q3, 2024 results Pre-Market on Oct 16, 2024 Upcoming Dividend • Sep 23
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 30 September 2024. Payment date: 15 October 2024. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (6.4%). Declared Dividend • Aug 05
Second quarter dividend of US$0.25 announced Shareholders will receive a dividend of US$0.25. Ex-date: 30th September 2024 Payment date: 15th October 2024 Dividend yield will be 2.2%, which is lower than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend. Recent Insider Transactions • Aug 01
Independent Director recently sold €1.9m worth of stock On the 30th of July, Jorge Colon-Gerena sold around 44k shares on-market at roughly €42.29 per share. This transaction amounted to 43% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €9.5m more than they bought in the last 12 months. Announcement • Aug 01
OFG Bancorp Declares Regular Quarterly Common Stock Cash Dividend, Payable on October 15, 2024 OFG Bancorp announced its Board of Directors declared a regular quarterly cash dividend of $0.25 per common share for the quarter ending September 30, 2024. The dividend is payable October 15, 2024, to holders of record at September 30, 2024, with an ex-dividend date of September 30, 2024. Reported Earnings • Jul 19
Second quarter 2024 earnings released: EPS: US$1.09 (vs US$0.94 in 2Q 2023) Second quarter 2024 results: EPS: US$1.09 (up from US$0.94 in 2Q 2023). Revenue: US$164.2m (up 6.2% from 2Q 2023). Net income: US$51.1m (up 16% from 2Q 2023). Profit margin: 31% (up from 29% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.1% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 18
OFG Bancorp Reports Net Charge Offs for the Second Quarter Ended June 30, 2024 OFG Bancorp reported net charge offs for the second quarter ended June 30, 2024. For the quarter, the company reported net charge offs of $15,013,000 against $6,606,000 a year ago. Announcement • Jun 28
OFG Bancorp to Report Q2, 2024 Results on Jul 18, 2024 OFG Bancorp announced that they will report Q2, 2024 results Pre-Market on Jul 18, 2024 Declared Dividend • May 13
First quarter dividend of US$0.25 announced Shareholders will receive a dividend of US$0.25. Ex-date: 28th June 2024 Payment date: 15th July 2024 Dividend yield will be 2.5%, which is lower than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend. Recent Insider Transactions • May 10
Chief Strategy Officer of U.S. Business recently sold €1.2m worth of stock On the 8th of May, Ganesh Kumar sold around 35k shares on-market at roughly €35.36 per share. This transaction amounted to 31% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €1.9m. Insiders have been net sellers, collectively disposing of €11m more than they bought in the last 12 months. Reported Earnings • May 09
First quarter 2024 earnings released: EPS: US$1.06 (vs US$0.97 in 1Q 2023) First quarter 2024 results: EPS: US$1.06 (up from US$0.97 in 1Q 2023). Revenue: US$159.3m (up 2.6% from 1Q 2023). Net income: US$49.7m (up 7.5% from 1Q 2023). Profit margin: 31% (up from 30% in 1Q 2023). Revenue is forecast to grow 7.2% p.a. on average during the next 2 years, compared to a 3.3% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 22% per year. Announcement • May 09
OFG Bancorp Declares Regular Quarterly Common Stock Cash Dividend, Payable on July 15, 2024 OFG Bancorp announced its Board of Directors declared a regular quarterly cash dividend of $0.25 per common share for the quarter ending June 30, 2024. The dividend is payable July 15, 2024, to holders of record at June 28, 2024, with an ex-dividend date of June 28, 2024. Reported Earnings • Apr 19
First quarter 2024 earnings released: EPS: US$1.06 (vs US$0.97 in 1Q 2023) First quarter 2024 results: EPS: US$1.06 (up from US$0.97 in 1Q 2023). Revenue: US$159.3m (up 2.6% from 1Q 2023). Net income: US$49.7m (up 7.5% from 1Q 2023). Profit margin: 31% (up from 30% in 1Q 2023). Revenue is forecast to grow 7.6% p.a. on average during the next 2 years, compared to a 3.3% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 18% per year. New Risk • Apr 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Significant insider selling over the past 3 months (€3.3m sold). Announcement • Mar 28
OFG Bancorp to Report Q1, 2024 Results on Apr 18, 2024 OFG Bancorp announced that they will report Q1, 2024 results Pre-Market on Apr 18, 2024 Announcement • Mar 27
OFG Bancorp, Annual General Meeting, May 08, 2024 OFG Bancorp, Annual General Meeting, May 08, 2024, at 10:00 US Eastern Standard Time. Agenda: To elect seven directors for a one-year term expiring at the 2025 annual meeting of shareholders and until their successors are duly elected and qualified; to provide an advisory vote on executive compensation; to ratify the selection of the Company’s independent registered public accounting firm for 2024; and to transact such other business as may properly come before the annual meeting or at any adjournments or postponements thereof. Recent Insider Transactions • Mar 22
Chief Strategy Officer of U.S. Business recently sold €619k worth of stock On the 21st of March, Ganesh Kumar sold around 19k shares on-market at roughly €32.98 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €1.9m. Insiders have been net sellers, collectively disposing of €9.4m more than they bought in the last 12 months. Upcoming Dividend • Mar 20
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 27 March 2024. Payment date: 15 April 2024. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (6.7%). Recent Insider Transactions • Mar 11
President recently sold €1.9m worth of stock On the 7th of March, Jose Fernandez sold around 55k shares on-market at roughly €34.33 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Jose has been a net seller over the last 12 months, reducing personal holdings by €4.7m. Reported Earnings • Feb 28
Full year 2023 earnings released: EPS: US$3.85 (vs US$3.46 in FY 2022) Full year 2023 results: EPS: US$3.85 (up from US$3.46 in FY 2022). Revenue: US$628.6m (up 6.6% from FY 2022). Net income: US$181.9m (up 9.4% from FY 2022). Profit margin: 29% (in line with FY 2022). Revenue is forecast to grow 7.4% p.a. on average during the next 2 years, compared to a 3.0% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 27% per year. Declared Dividend • Feb 05
Fourth quarter dividend of US$0.25 announced Shareholders will receive a dividend of US$0.25. Ex-date: 27th March 2024 Payment date: 15th April 2024 Dividend yield will be 2.5%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by earnings (23% payout ratio) and is expected to be well covered in 3 years' time (23% forecast payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 2.4% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 02
OFG Bancorp (NYSE:OFG) announces an Equity Buyback for $50 million worth of its shares. OFG Bancorp (NYSE:OFG) announces a share repurchase program. Under the program, the company will repurchase up to $50 million worth of its shares as part of the company’s capital actions. Announcement • Feb 01
OFG Bancorp Increases Regular Cash Dividend for the Quarter Ending March 31, 2024, Payable on April 15, 2024 OFG Bancorp announced its Board of Directors increased the regular quarterly cash dividend by 13.6%, to $0.25 per common share from $0.22 per share, for the quarter ending March 31, 2024, as part of OFG’s capital actions this year. The dividend is payable April 15, 2024, to holders of record at March 28, 2024, with an ex-dividend date of March 27, 2024. Announcement • Jan 25
OFG Bancorp Reports Consolidated Total Net Charge-Offs for the Fourth Quarter Ended December 31, 2023 OFG Bancorp reported consolidated total net charge-offs for the fourth quarter ended December 31, 2023. For the quarter, the company reported total net charge-offs were $16,282,000 as compared to $11,205,000 same period a year ago. Reported Earnings • Jan 25
Full year 2023 earnings released: EPS: US$3.87 (vs US$3.46 in FY 2022) Full year 2023 results: EPS: US$3.87 (up from US$3.46 in FY 2022). Revenue: US$628.6m (up 6.6% from FY 2022). Net income: US$181.9m (up 9.4% from FY 2022). Profit margin: 29% (in line with FY 2022). Revenue is forecast to grow 6.1% p.a. on average during the next 2 years, compared to a 2.0% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 22
OFG Bancorp to Report Q4, 2023 Results on Jan 24, 2024 OFG Bancorp announced that they will report Q4, 2023 results Pre-Market on Jan 24, 2024 Upcoming Dividend • Dec 21
Upcoming dividend of US$0.22 per share at 2.4% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 16 January 2024. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (6.2%). Recent Insider Transactions • Dec 17
Chief Strategy Officer of U.S. Business recently sold €468k worth of stock On the 14th of December, Ganesh Kumar sold around 14k shares on-market at roughly €33.35 per share. This transaction amounted to 9.7% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €597k. Insiders have been net sellers, collectively disposing of €8.2m more than they bought in the last 12 months. Recent Insider Transactions • Dec 17
Chief Strategy Officer of U.S. Business recently sold €468k worth of stock On the 14th of December, Ganesh Kumar sold around 14k shares on-market at roughly €33.35 per share. This transaction amounted to 9.7% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €597k. Insiders have been net sellers, collectively disposing of €8.2m more than they bought in the last 12 months. Recent Insider Transactions • Dec 07
Chief Strategy Officer of U.S. Business recently sold €320k worth of stock On the 1st of December, Ganesh Kumar sold around 10k shares on-market at roughly €31.95 per share. This transaction amounted to 6.5% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €597k. Insiders have been net sellers, collectively disposing of €7.6m more than they bought in the last 12 months. Recent Insider Transactions • Nov 20
Independent Chairman of the Board recently sold €468k worth of stock On the 15th of November, Julian Inclan sold around 15k shares on-market at roughly €31.18 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €597k. This was Julian's only on-market trade for the last 12 months. Announcement • Oct 26
OFG Bancorp Declares Regular Quarterly Common Stock Cash Dividend for the Quarter Ending December 31, 2023, Payable on January 16, 2024 OFG Bancorp announced that its Board of Directors declared a regular quarterly cash dividend of $0.22 per common share for the quarter ending December 31, 2023. The dividend is payable on January 16, 2024, to holders of record at December 29, 2023, with an ex-dividend date of December 28, 2023. Reported Earnings • Oct 22
Third quarter 2023 earnings released: EPS: US$0.95 (vs US$0.88 in 3Q 2022) Third quarter 2023 results: EPS: US$0.95 (up from US$0.88 in 3Q 2022). Revenue: US$156.1m (up 4.0% from 3Q 2022). Net income: US$44.9m (up 7.0% from 3Q 2022). Profit margin: 29% (in line with 3Q 2022). Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Sep 29
Managing Director of Commercial Banking recently sold €597k worth of stock On the 25th of September, Patrick Haggarty sold around 22k shares on-market at roughly €26.78 per share. This transaction amounted to 43% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €1.5m. Insiders have been net sellers, collectively disposing of €7.0m more than they bought in the last 12 months. Announcement • Sep 23
OFG Bancorp to Report Q3, 2023 Results on Oct 20, 2023 OFG Bancorp announced that they will report Q3, 2023 results Pre-Market on Oct 20, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of US$0.22 per share at 3.1% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 16 October 2023. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (6.0%). Recent Insider Transactions • Jul 28
Chief Strategy Officer of U.S. Business recently sold €1.1m worth of stock On the 24th of July, Ganesh Kumar sold around 36k shares on-market at roughly €30.59 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €3.9m more than they bought in the last 12 months. Reported Earnings • Jul 20
Second quarter 2023 earnings released: EPS: US$0.93 (vs US$0.84 in 2Q 2022) Second quarter 2023 results: EPS: US$0.93 (up from US$0.84 in 2Q 2022). Revenue: US$154.7m (up 7.0% from 2Q 2022). Net income: US$44.2m (up 9.3% from 2Q 2022). Profit margin: 29% (in line with 2Q 2022). Revenue is forecast to grow 6.1% p.a. on average during the next 2 years, compared to a 4.4% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Announcement • Jun 28
OFG Bancorp to Report Q2, 2023 Results on Jul 20, 2023 OFG Bancorp announced that they will report Q2, 2023 results Pre-Market on Jul 20, 2023 Upcoming Dividend • Jun 22
Upcoming dividend of US$0.22 per share at 3.4% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 17 July 2023. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.1%). Recent Insider Transactions • Jun 12
President recently sold €525k worth of stock On the 7th of June, Jose Fernandez sold around 20k shares on-market at roughly €26.05 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Jose has been a net seller over the last 12 months, reducing personal holdings by €1.2m. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €26.00, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Banks industry in Europe. Total returns to shareholders of 142% over the past three years. Announcement • May 05
OFG Bancorp Appoints Angel Vázquez to its Board of Directors and Audit Committee and Risk and Compliance Committee OFG Bancorp announced that the board of directors of the company continues to broaden and strengthen its membership by selecting experienced individuals from different backgrounds. On April 26, 2023, the Board elected Angel Vázquez to the Board of Directors effective immediately. Mr. Vázquez was also appointed to the Company’s Audit Committee and Risk and Compliance Committee. Angel Vázquez is the President of Pan Pepin Inc., since January 2021. Previously, he served as the President of B. Fernández & Hnos. Inc., since 2007. Mr. Vázquez serves on the Boards of Directors of two Puerto Rico non-profit organizations, the Fundación Biblioteca Rafael Hernández Colón and SER de Puerto Rico. He also served on the Board of Trustees of the DGI Investment Trust, from 2021-2023, and on Oriental Bank’s Trust Committee from 2011-2021. Mr. Vázquez received a BBA in Finance from the University of Texas, Arlington. Reported Earnings • Apr 21
First quarter 2023 earnings released: EPS: US$0.97 (vs US$0.77 in 1Q 2022) First quarter 2023 results: EPS: US$0.97 (up from US$0.77 in 1Q 2022). Revenue: US$155.4m (up 15% from 1Q 2022). Net income: US$46.2m (up 23% from 1Q 2022). Profit margin: 30% (up from 28% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.5% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of US$0.22 per share at 3.4% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 17 April 2023. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.1%). Reported Earnings • Mar 01
Full year 2022 earnings released: EPS: US$3.46 (vs US$2.84 in FY 2021) Full year 2022 results: EPS: US$3.46 (up from US$2.84 in FY 2021). Revenue: US$589.6m (up 8.8% from FY 2021). Net income: US$166.2m (up 15% from FY 2021). Profit margin: 28% (up from 27% in FY 2021). The increase in margin was driven by higher revenue. Net interest margin (NIM): 5.32% (up from 4.38% in FY 2021). Cost-to-income ratio: 56.9% (down from 60.7% in FY 2021). Non-performing loans: 1.45% (down from 1.73% in FY 2021). Revenue is forecast to grow 6.8% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Feb 25
Independent Director recently sold €415k worth of stock On the 21st of February, Edwin Hernandez sold around 15k shares on-market at roughly €27.65 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €688k. Insiders have been net sellers, collectively disposing of €1.2m more than they bought in the last 12 months. Recent Insider Transactions • Feb 06
Chief Operating Officer recently sold €131k worth of stock On the 1st of February, Ganesh Kumar sold around 5k shares on-market at roughly €26.19 per share. This transaction amounted to 50% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €415k. Ganesh has been a net seller over the last 12 months, reducing personal holdings by €217k. Reported Earnings • Jan 27
Full year 2022 earnings released: EPS: US$3.50 (vs US$2.84 in FY 2021) Full year 2022 results: EPS: US$3.50 (up from US$2.84 in FY 2021). Revenue: US$589.7m (up 8.8% from FY 2021). Net income: US$166.2m (up 15% from FY 2021). Profit margin: 28% (up from 27% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.2% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Dec 29
OFG Bancorp to Report Q4, 2022 Results on Jan 26, 2023 OFG Bancorp announced that they will report Q4, 2022 results Pre-Market on Jan 26, 2023 Upcoming Dividend • Dec 22
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 17 January 2023. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (6.1%). Recent Insider Transactions • Dec 01
Independent Director recently sold €415k worth of stock On the 30th of November, Edwin Hernandez sold around 15k shares on-market at roughly €27.68 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought €752k more than they sold in the last 12 months. Announcement • Oct 29
OFG Bancorp Declares Regular Quarterly Common Stock Cash Dividend for the Quarter Ending December 31, 2022, Payable on January 17, 2023 OFG Bancorp announced its Board of Directors declared a regular quarterly cash dividend of $0.20 per common share for the quarter ending December 31, 2022. The dividend is payable January 17, 2023, to holders of record at December 30, 2022, with an ex-dividend date of December 29, 2022. Reported Earnings • Oct 22
Third quarter 2022 earnings released: EPS: US$0.88 (vs US$0.82 in 3Q 2021) Third quarter 2022 results: EPS: US$0.88 (up from US$0.82 in 3Q 2021). Revenue: US$150.0m (up 7.0% from 3Q 2021). Net income: US$41.9m (flat on 3Q 2021). Profit margin: 28% (down from 30% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 5.4% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Sep 23
OFG Bancorp to Report Q3, 2022 Results on Oct 20, 2022 OFG Bancorp announced that they will report Q3, 2022 results Pre-Market on Oct 20, 2022 Upcoming Dividend • Sep 22
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 17 October 2022. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (6.3%). Recent Insider Transactions • Sep 02
Independent Director recently bought €150k worth of stock On the 30th of August, Jorge Colon-Gerena bought around 6k shares on-market at roughly €27.32 per share. This transaction amounted to 5.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €1.2m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Aug 13
Insider recently sold €109k worth of stock On the 10th of August, César Ortiz sold around 4k shares on-market at roughly €28.02 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought €1.1m more than they sold in the last 12 months. Announcement • Jul 28
OFG Bancorp Increases Regular Quarterly Common Stock Cash Dividend for the Quarter Ending September 30, 2022, Payable on October 17, 2022 OFG Bancorp announced its Board of Directors increased the regular quarterly cash dividend by 33%, to $0.20 per common share from $0.15 per share, for the quarter ending September 30, 2022, as part of OFG’s capital actions in 2022. The dividend is payable October 17, 2022, to holders of record at September 30, 2022, with an ex-dividend date of September 29, 2022. Announcement • Jul 23
OFG Bancorp Reports Net Charge-Offs for the Second Quarter Ended June 30, 2022 OFG Bancorp reported net charge-offs for the second quarter ended June 30, 2022. For the quarter, the company reported net charge offs of $4,543,000 against $2,118,000 a year ago. Reported Earnings • Jul 22
Second quarter 2022 earnings released: EPS: US$0.83 (vs US$0.79 in 2Q 2021) Second quarter 2022 results: EPS: US$0.83. Revenue: US$144.6m (up 1.3% from 2Q 2021). Net income: US$40.4m (down 1.0% from 2Q 2021). Profit margin: 28% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 12%, compared to a 14% growth forecast for the industry in Germany. Announcement • Jun 29
OFG Bancorp to Report Q2, 2022 Results on Jul 21, 2022 OFG Bancorp announced that they will report Q2, 2022 results at 9:30 AM, US Eastern Standard Time on Jul 21, 2022 Upcoming Dividend • Jun 22
Upcoming dividend of US$0.15 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 15 July 2022. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (4.4%). Lower than average of industry peers (6.6%). Recent Insider Transactions • May 06
Independent Director recently bought €190k worth of stock On the 3rd of May, Rafael Velez-Dominguez bought around 7k shares on-market at roughly €26.06 per share. In the last 3 months, there was an even bigger purchase from another insider worth €477k. Insiders have collectively bought €1.2m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Apr 29
Independent Director recently bought €467k worth of stock On the 25th of April, Jorge Colon-Gerena bought around 19k shares on-market at roughly €24.28 per share. In the last 3 months, they made an even bigger purchase worth €477k. Insiders have collectively bought €1.0m more in shares than they have sold in the last 12 months. Announcement • Apr 28
OFG Bancorp Declares Regular Quarterly Cash Dividend for the Quarter Ending June 30, 2022, Payable on July 15, 2022 OFG Bancorp announced its Board of Directors declared a regular quarterly cash dividend of $0.15 per common share for the quarter ending June 30, 2022. The dividend is payable July 15, 2022, to holders of record at June 30, 2022, with an ex-dividend date of June 29, 2022. Reported Earnings • Apr 27
First quarter 2022 earnings released: EPS: US$0.77 (vs US$0.57 in 1Q 2021) First quarter 2022 results: EPS: US$0.77 (up from US$0.57 in 1Q 2021). Revenue: US$135.2m (up 11% from 1Q 2021). Net income: US$37.5m (up 29% from 1Q 2021). Profit margin: 28% (up from 24% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 5.8%, compared to a 8.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Apr 22
OFG Bancorp Increases Regular Quarterly Cash Dividend by 25% to $0.15 Per Common Share OFG Bancorp increased regular quarterly cash dividend by 25% to $0.15 per common share.