OFG Bancorp OFG

FinancialsBanking ServicesPuerto Rico

Last close 50.87 USD on Nov 2, 2026, +27.0% year to date

Quant rating

Quant rating B Rank 112 of 304 in Financials

Growth B 106 of 304
Valuation C 187 of 304
Quality B 105 of 304
Revisions C 177 of 304
Momentum B 98 of 304

Wall Street consensus Hold (2.80)Average target 56.25 USD +10.6%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 2.2B
Enterprise value: 1.5B
52-week range: 35.88 – 53.98
3-year range: 31.24 – 53.98
Dividend yield: 2.80%
Beta (5 years): 0.75
Shares outstanding: 42.3M
Next earnings: Jan 20, 2027

About the company

OFG Bancorp is a financial holding company. The Company is engaged in providing banking and financial services through its subsidiaries. The Company operates through three segments: Banking, Wealth Management and Treasury. The Company provides banking and financial services to its clients through a range of banking and financial solutions, including commercial, consumer, auto, and mortgage lending; checking and savings accounts; financial planning, insurance, financial service, and investment brokerage, and corporate and individual trust and retirement services. The Company provides these services through various subsidiaries, including a commercial bank, Oriental Bank; a securities broker-dealer, Oriental Financial Services Corp. (Oriental Financial Services); an insurance agency, Oriental Insurance, LLC (Oriental Insurance), and a retirement plan administrator, Oriental Pension Consultants, Inc. (OPC).

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	781	750	649	516	449	–
Revenue growth	4.1%	15.6%	25.9%	14.8%	−5.1%	10.5%
EPS (basic, normalized)	4.60	4.25	3.89	3.43	2.91	–
EPS growth	8.3%	9.1%	13.5%	17.7%	29.2%	15.3%
Gross margin	–	–	–	–	–	–
Net margin	26.3%	26.4%	28.0%	32.2%	32.3%	29.0%
ROE	15.5%	16.2%	18.1%	16.3%	15.7%	16.4%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Tier 1 risk-adjusted capital ratio	14.1%
Long-term debt (mil)	0
Net debt (mil)	–
Total equity (mil)	1,337
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	781	+4.1%	1.9x	32.13	+11.5%	1.6x	4.58	+8.3%	11.1x
2026	673	−13.9%	2.2x	34.05	+6.0%	1.5x	5.29	+15.6%	9.6x
2027	686	+2.0%	2.2x	37.09	+8.9%	1.4x	5.18	−2.2%	9.8x
2028	700	+2.1%	2.2x	39.02	+5.2%	1.3x	5.51	+6.5%	9.2x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	673	−0.1%	−1.9%	+0.6%	5.29	+4.1%	+4.2%	+12.4%
2027	686	+0.7%	−1.2%	+2.7%	5.18	+1.1%	+1.5%	+10.2%
2028	700	+9.2%	+3.9%	−8.1%	5.51	−0.7%	+6.4%	+7.0%

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	144	147	148	149	149	152	155	153	154	157
Sales mean (mil)	144	153	164	147	153	162	157	154	167	163
Surprise	−0.2%	−3.4%	−9.6%	+1.2%	−2.6%	−6.1%	−1.3%	−0.6%	−7.6%	−3.8%
EPS reported	1.05	1.08	1.00	1.09	1.00	1.15	1.16	1.27	1.26	1.39
EPS mean	0.95	0.96	1.02	0.96	0.97	1.05	1.17	1.15	0.99	1.17
Surprise	+10.5%	+12.5%	−1.7%	+13.0%	+3.4%	+9.5%	−0.6%	+10.4%	+26.6%	+19.3%

Peer comparison Banking Services

Peers in the same industry group, by market capitalization
Company	Market cap	Tier 1 ratio	Net margin	Deposits/loans	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
OFG OFG Bancorp	2.2B	14.1%	26.3%	1.28x	9.6x	9.8x	1.5x	1.4x
TD The Toronto-Dominion Bank	206.0B	16.1%	22.8%	1.37x	17.3x	15.6x	2.6x	2.5x
SAN Banco Santander S.A.	168.7B	15.0%	12.3%	1.14x	9.9x	8.3x	1.4x	1.3x
BBVA Banco Bilbao Vizcaya Argentaria, S.a	132.7B	14.4%	17.3%	1.21x	10.4x	9.1x	2.0x	1.9x
EWBC East West Bancorp, Inc.	18.2B	15.4%	30.9%	1.20x	12.3x	11.3x	2.0x	1.7x
PNFP Pinnacle Financial Partners, Inc.	15.8B	10.7%	22.4%	1.22x	10.2x	9.0x	1.1x	1.0x
Mean		14.3%	22.0%	1.24x	11.6x	10.5x	1.7x	1.6x
Median		14.7%	22.6%	1.22x	10.3x	9.5x	1.7x	1.6x

Technical analysis

1M−0.8%
3M−3.1%
1Y+35.6%
3Y+76.8%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, OFG Bancorp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Interest income	781	750	649	516	449	473
Total interest expense	172	162	88.0	33.5	41.8	64.9
Net interest income	608	588	561	482	407	408
Loan loss provision	108	82.3	60.6	24.1	0.2	52.8
Net interest income after loan loss provision	501	506	500	458	407	356
Non-interest income	123	123	128	132	133	124
Non-interest expense	−390	−376	−363	−346	−326	−385
Net income before taxes	234	254	265	244	215	94.8
Provision for taxes	29.0	55.6	83.4	77.9	68.5	20.5
Minority interest & equity in affiliates	–	–	–	–	–	–
Other	0	0	0	0	0	0
Net income before extraordinary items	205	198	182	166	146	74.3
Extraordinary items	–	–	–	–	–	–
Net income	205	198	182	166	146	74.3
Basic weighted average shares (mil)	44.6	46.6	47.3	48.4	51.4	51.6
Diluted weighted average shares (mil)	44.8	46.9	47.6	48.4	51.4	51.6
Basic EPS excluding extraordinary items	4.60	4.25	3.85	3.43	2.82	1.32
Basic EPS, normalized	4.60	4.25	3.89	3.43	2.91	2.26

Balance sheet in millions of USD, fiscal years

Balance sheet, OFG Bancorp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & due from banks	1,036	584	744	546	2,015	2,142
Other earning assets	2,954	2,846	2,793	2,106	1,112	627
Net loans	7,999	7,616	7,373	6,683	6,247	6,457
Property, plant & equipment	115	124	126	132	121	115
Goodwill	84.2	84.2	84.2	84.2	86.1	86.1
Intangibles	76.2	85.2	70.2	78.5	85.1	93.2
Long-term investments	–	–	–	0	1.1	1.1
Other long-term assets	104	6.2	4.9	55.5	99.1	162
Other assets	97.5	154	149	133	135	142
Total assets	12,466	11,501	11,344	9,819	9,900	9,826
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	–	–	–	–	–	–
Accrued expenses	233	168	140	152	127	187
Total deposits	10,263	9,605	9,762	8,568	8,603	8,416
Other bearing liabilities	479	357	226	55.3	63.8	98.9
Short-term borrowings	101	75.2	–	–	0	0
Current portion of long-term debt	–	–	–	–	–	–
Long-term debt	0	0	0	0.3	36.1	36.8
Minority interest	–	–	–	–	–	–
Other liabilities	0	40.7	22.4	0	0.8	1.7
Total liabilities	11,076	10,246	10,151	8,776	8,831	8,740
Shareholders' equity
Preferred stock	–	–	–	–	0	92.0
Common stock	59.9	59.9	59.9	59.9	59.9	59.9
Additional paid-in capital	643	640	639	637	637	623
Retained earnings (accumulated deficit)	1,093	942	790	650	518	403
Treasury stock	−389	−297	−228	−211	−151	−103
Other equity	−16.9	−89.8	−67.0	−93.4	5.2	11.0
Total equity	1,390	1,254	1,193	1,042	1,069	1,086
Total liabilities & shareholders' equity	12,466	11,501	11,344	9,819	9,900	9,826

Cash flow statement in millions of USD, fiscal years

Cash flow statement, OFG Bancorp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	205	198	182	166	146	74.3
Depreciation, depletion & amortization	25.4	26.8	27.3	24.3	23.9	23.8
Deferred taxes	−154	21.6	67.3	61.1	63.6	27.8
Non-cash items	11.6	3.0	2.2	1.6	1.1	−13.3
Changes in working capital	129	3.0	17.0	−88.8	−135	−77.6
Cash from operations	218	252	296	164	100	35.0
Investing activities
Capital expenditures	−18.4	−41.7	−17.9	−31.0	−23.1	−15.3
Other investing cash flows	−420	−294	−1,387	−1,482	−160	773
Cash from investing	−438	−336	−1,405	−1,513	−183	758
Financing activities
Financing cash flow items	813	42.4	1,366	4.5	114	533
Cash dividends paid	−51.9	−45.6	−41.0	−30.1	−21.0	−20.9
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−91.6	−70.3	−18.7	−99.1	−142	−2.2
Cash from financing	670	−73.6	1,307	−125	−49.0	510
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	449	−157	198	−1,473	−132	1,303
Free cash flow	199	211	278	133	77.0	19.7

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.