OFG Bancorp Reports 1Q20 Results
OFG Bancorp (OFG)
Last ofg bancorp earnings: 4/29 07:30 am
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US:NYSE Investor Relations:
snl.com/irweblinkx/yearlynews.aspx?iid=1032005
Company Research
Source: Business Wire
SAN JUAN, Puerto Rico--(BUSINESS WIRE)--OFG Bancorp (NYSE: OFG) today reported results for the first quarter ended March 31, 2020.1Q20 HighlightsStrong increase in core net revenues due to the December 31, 2019 acquisition of the Puerto Rico and U.S. Virgin Islands operations of The Bank of Nova Scotia (Scotiabank), and a major reserve build reflecting CECL as well as anticipated changes in Puerto Rico and USVI macroeconomic scenarios due to the effect of the coronavirus pandemic.Core net revenues of $131.3 million, CECL “Day 1” allowance of $89.9 million, provision for credit losses of $48.5 million, $4.7 million gain on sale of investment securities, and $0.00 earnings per share. This compares in the year-ago quarter to net core revenues of $99.3 million, provision of $12.2 million, no gain, and $0.42 earnings per share fully diluted.All March 31, 2020 regulatory capital ratios increased from December 31, 2019 and continue to be significantly above requirements for a well-capita
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OFG
News
- Federal Home Loan Bank of New York Announces Results of 2025 Board of Directors Elections [Yahoo! Finance]Yahoo! Finance
- OFG Bancorp Declares Regular Quarterly Common Stock DividendBusiness Wire
- Wells Fargo Reduces PT on OFG Bancorp (OFG) to $43 From $48 [Yahoo! Finance]Yahoo! Finance
- OFG Bancorp (NYSE:OFG) had its price target lowered by analysts at Wells Fargo & Company from $48.00 to $43.00. They now have an "equal weight" rating on the stock.MarketBeat
- OFG Bancorp (NYSE:OFG) had its price target lowered by analysts at Keefe, Bruyette & Woods from $51.00 to $50.00. They now have an "outperform" rating on the stock.MarketBeat
OFG
Earnings
- 4/23/25 - Miss
OFG
Sec Filings
- 11/14/25 - Form 144
- 11/14/25 - Form 4
- 11/12/25 - Form 4
- OFG's page on the SEC website