OFG Bancorp
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Range $55 – $58
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About the company
OFG Bancorp, a financial holding company, delivers a broad spectrum of banking and financial solutions, structured across three core divisions: Banking, Wealth Management, and Treasury. The company's services include essential deposit products like checking, savings, and time accounts, alongside diverse credit options such as commercial, consumer, automobile, and mortgage loans. Beyond traditional lending and deposits, OFG Bancorp also provides financial planning, insurance, and trust services for both corporate and individual clients, as well as retirement plan administration.
- CEO
- José Rafael Fernández
- IPO
- 1987
- Employees
- 2,185
- HQ
- San Juan, PR, PR
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $2.19B
- P/E
- 10.32
- Fwd P/E
- 10.21
- PEG
- 0.59
- P/S
- 2.43
- P/B
- 1.56
- EV/EBITDA
- 6.56
- Div Yield
- 2.51%
- Gross Margin
- 74.09%
- Op Margin
- 31.46%
- Net Margin
- 24.43%
- ROE
- 15.92%
- ROIC
- 11.44%
Latest fiscal year · YoY change
- Revenue
- $862.62M+4.8%
- Gross Profit
- $614.52M+6.2%
- Op Income
- $266.01M
- Net Income
- $205.10M+3.5%
- EPS
- $4.53+6.6%
- OCF Growth
- -13.8%
- FCF Growth
- -5.4%
- 52W High
- $54.47
- 52W Low
- $35.71
- 50D MA
- $50.54
- 200D MA
- $44.00
- Beta
- 0.70
- RSI (14)
- 48
- Avg Volume
- 342.52K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
OFG Bancorp delivered a strong second quarter with EPS up 21% year over year, solid loan and deposit growth, and higher margin guidance after repositioning large government deposits.· July 21, 2026
- EPS rose to $1.39, with core revenues up 4% year over year to $190 million.
- Net interest margin expanded to 5.45%, and management raised second-half 2026 NIM guidance to 5.25%-5.35%.
- Average loans grew to $8.2 billion and average core deposits rose to $9.7 billion, supporting an 85% loans-to-deposit ratio.
- Credit improved after the sale of a telecom exposure; nonperforming loans fell to 0.81% of average loans, though net charge-offs were 1.0%.
- Management reiterated low-single-digit full-year loan growth, $380 million-$385 million of expenses, and a 22.6% tax rate, with $194 million of buyback authorization remaining.
Second-quarter EPS was $1.39, up 21% year over year. Core revenues increased $4.5 million to $190 million; total interest income was $197 million, total interest expense was $40 million, and net interest margin increased 9 basis points to 5.45%. Total banking and financial service revenues rose to $33 million, while noninterest expense increased to $103 million. Credit metrics included net charge-offs of 1.0% of average loans, nonperforming loans at 0.81% of average loans, and provision for credit losses of $13 million. On the balance sheet, average loans were $8.2 billion, average core deposits were $9.7 billion, CET1 was 14.07%, tangible book value was $31.12 per share, and the loans-to-deposit ratio was 85%. Management expects low-single-digit loan growth for the year, second-half 2026 NIM of 5.25%-5.35%, expenses of $380 million-$385 million, and an estimated tax rate of 22.6% excluding discrete items.
José Rafael Fernández framed the quarter as an “all around outstanding” result with momentum across the franchise, emphasizing that OFG’s digital-at-the-core model is driving customer growth, efficiency, and stronger relationships. He highlighted the new branding campaign as a way to communicate the bank’s evolution into a “digital bank with a human touch,” and said the Puerto Rico economy remains resilient, supported by low unemployment, liquidity, federal reconstruction funding, and private investment. He also sounded confident on the commercial pipeline and reiterated that OFG is positioned to keep gaining share through disciplined execution.
Maritza Arizmendi said financial performance was very strong, citing EPS of $1.39, an efficiency ratio of 54%, ROAA of 1.93%, and ROTCE of almost 18%. She walked through core revenues of $190 million, NII tailwinds from higher loan balances and rates, and deposit and liquidity management that reduced borrowings and brokered deposits. She also raised guidance: low-single-digit loan growth for the year, deposit growth excluding large government deposits, second-half 2026 NIM of 5.25%-5.35%, expenses of $380 million-$385 million, and a 22.6% tax rate. On capital, she noted CET1 of 14.07%, TCE of 10.90%, tangible book value of $31.12, and $194 million of remaining buyback authorization.
Analysts focused mainly on the raised NIM outlook, asking how much depended on the large government deposit relationship. Management said the government deposit relocation was completed at the end of June, reducing funding uncertainty and allowing them to avoid replacing that money in the market, which should support spreads. Questions also centered on credit, including higher early delinquencies and the charge-off impact from the telecom loan sale; management said seasonality should lift delinquencies later in the year, but consumer portfolios are healthy and the telecom sale reduces tail risk. Analysts also asked about buybacks and deposit trends, and management said repurchases remain unchanged in strategy, with $194 million authorized, while deposit growth is being driven by customer growth across the retail and small-business franchises.
The call showed a bank with strong operating momentum: revenue, EPS, margin, deposits, and loans all moved in the right direction, while digital adoption continued to deepen. Management sounded increasingly confident about NIM after resolving the large government deposit issue and pointed to a healthy commercial pipeline, stable credit, and a resilient Puerto Rico economy as support for continued growth.
Credit still has moving parts, including 1.0% net charge-offs, seasonally rising delinquencies expected in the second half, and some volatility tied to loan sales and previously reserved exposures. Expense growth was also elevated this quarter because of $5.8 million in business operational charges, and management acknowledged that the large government deposit is still an important variable even though it was partly stabilized through relocation into CDs.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 99.0%
- Shares Outstanding
- 42.27M
- Float Shares
- 41.85M
of shares held by institutions
238 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Blackrock, Inc. | 6.16M | ▼ 52.19K |
| Vanguard Group Inc | 5.45M | ▼ 119.09K |
| Dimensional Fund Advisors LP | 2.57M | ▼ 39 |
| State Street Corp | 2.49M | ▲ 82.81K |
| First Trust Advisors LP | 2.36M | ▲ 37.89K |
| Vanguard Capital Management LLC | 1.87M | ▼ 33.40K |
| American Century Companies Inc | 1.74M | ▲ 136.88K |
| Charles Schwab Investment Management Inc | 1.56M | ▲ 143.92K |
| Sixth Street Partners Management Company, L.P. | 1.56M | ▲ 1.56M |
| Lsv Asset Management | 1.33M | ▲ 42.83K |
| Geode Capital Management, LLC | 1.17M | ▲ 41.58K |
| Nuveen, LLC | 945.11K | ▼ 45.41K |
Held by 301 ETFs
Biggest fund positions in OFG by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Aug 14, 26 | Arizmendi Maritza | sell | 10,000 |
| Aug 12, 26 | De Jesus Nestor | sell | 4,000 |
| Jul 24, 26 | FERNANDEZ JOSE RAFAEL | sell | 52,352 |
| May 19, 26 | Rodriguez Mari Evelyn | other | 8,750 |
| May 19, 26 | Rodriguez Mari Evelyn | other | 1,957 |
| May 19, 26 | Rodriguez Mari Evelyn | other | 3,500 |
| May 11, 26 | Velez-Dominguez Rafael A | other | 1,500 |
| May 4, 26 | Vazquez Angel E. | other | 1,500 |
| Apr 29, 26 | Garcia Rodriguez Roberto | other | 1,500 |
| Apr 24, 26 | Colon Jorge | other | 1,500 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our OFG coverage
Recent articles, reports, and earnings notes.
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