OFG Bancorp reports results for the quarter ended in March - Earnings Summary

OFG Bancorp

18/04/2024 16:09

* OFG Bancorp  OFG.N  reported quarterly adjusted earnings
of
$1.05​​ per share for the quarter ended in March, higher than
the same quarter last year, when the company reported EPS of 96
cents.  The mean expectation of four analysts for the quarter
was for earnings of 95 cents per share. Wall Street expected
results to range from 90 cents to $1.02 per share.
    * Revenue rose 6% to $144.10 million from a year ago;
analysts
expected $151.93 million. 
    * OFG Bancorp's reported EPS for the quarter was $1.05​.
    * The company reported quarterly net income of $49.69
million.
    * OFG Bancorp shares had fallen by 9.3% this quarter and
lost 11.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 6.1%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for OFG Bancorp is
$42.50 
This summary was machine generated from LSEG data April 18 at
03:09 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.95           1.05           Beat
 Dec. 31 2023      0.93           0.94           Beat
 Sep. 30 2023      0.94           0.95           Beat
 Jun. 30 2023      0.88           0.93           Beat