OFG Bancorp (NYSE:OFG) Third Quarter 2024 Results
Key Financial Results
- 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.
- EPS: US$1.01 (up from US$0.95 in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
OFG Bancorp Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 2.2%.
Looking ahead, revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are down 3.3% from a week ago.
Risk Analysis
What about risks? Every company has them, and we've spotted 3 warning signs for OFG Bancorp (of which 1 makes us a bit uncomfortable!) you should know about.
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About NYSE:OFG
OFG Bancorp
A financial holding company, provides a range of banking and financial services.
Flawless balance sheet, undervalued and pays a dividend.
