Overview

* OFG Bancorp ( OFG ) Q3 EPS rose 16% yr/yr to $1.16, with core revenues up 5.6%

* Company repurchased $20.4 mln of common shares, indicating confidence in future growth

* Digital First strategy expands with AI-driven customer insights and efficiency initiatives

Outlook

* Company did not provide specific financial guidance for future quarters or the full year

Result Drivers

* COMMERCIAL LOANS - Growth in commercial loans contributed to increased loan and core deposit balances, while auto loan originations moderated

* DIGITAL STRATEGY - Digital First strategy with AI-driven insights enhanced customer acquisition and retention

* ECONOMIC ENVIRONMENT - Puerto Rico's strong economic performance, including tourism surge and new investments, supported results

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Core $184 mln

Revenue

Q3 EPS $1.16

Q3 CET1 14.13%

Capital

Ratio

Q3 $2.94

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 $51.00, about 17.3% above its October 21 closing price of $42.18

* The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release:

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(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.)