Puerto Rico bank OFG Bancorp slides after Q3 profit miss

OFG Bancorp

22/10/2025 16:23

** Puerto Rico bank OFG Bancorp's OFG.N shares fall 6% to $39.65

** OFG's Q3 profit misses expectations as higher rainy day funds weigh

** Net charge-offs, or debts that are unlikely to be recovered, rose to $20.2 million in Q3 compared to $17.1 million a year earlier

** Meanwhile, new loan production decreased sequentially to $623.9 million from $783.7 million in part due to moderation in auto loans

** "We expect investors to focus questions on higher net charge-offs, weaker loan growth, and higher funding costs," Truist analyst Arren Cyganovich says

** "We expect shares to trade slightly lower than peers today, given the slightly lower balance sheet trends," Hovde Group analyst Brett Rabatin says

** Two of three brokerages rate the stock "buy" and one "hold"; median PT $50.50 - data compiled by LSEG

** As of last close, OFG stock flat YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))