Overview

* OFG Bancorp ( OFG ) Q2 EPS rises to $1.15, up 6.5% year-over-year

* Total core revenues grow 1.5% year-over-year to $182.2 mln

* Co repurchased 186,024 shares, indicating strategic financial management

Outlook

* OFG Bancorp ( OFG ) emphasizes digital strategy and customer experience investments

Result Drivers

* LOAN ORIGINATION - Strong loan origination contributed to increased EPS and core revenues, per CEO José Rafael Fernández

* DIGITAL STRATEGY - Omnichannel digital strategy and new product launches improved customer experience and operational efficiencies

* LIQUIDITY INCREASE - New borrowings and brokered deposits increased liquidity to fund strategic growth in commercial loans

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Core $182.20

Revenue mln

Q2 EPS $1.15

Q2 CET1 14.0%

Capital

Ratio

Q2 $2.78

Investme bln

nts

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for OFG Bancorp ( OFG ) is $48.00, about 8.3% above its July 16 closing price of $44.02

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)