OFG Bancorp (OFG) 10-Year Financial Performance & Capital Metrics

OFG • • Banking & Credit

Financial ServicesRegional BanksInternational & Latin American BankingLatin American Retail Banking

AboutOFG Bancorp, a financial holding company, provides a range of banking and financial services. It operates through three segments: Banking, Wealth Management, and Treasury. The company offers checking and savings accounts, as well as time deposit products; commercial, consumer, auto, and mortgage lending services; financial planning and insurance services; and corporate and individual trust, and retirement services. It also provides securities brokerage and investment advisory services, including various investment alternatives, such as tax-advantaged fixed income securities, mutual funds, stocks, and bonds to retail and institutional clients; and separately-managed accounts and mutual fund asset allocation programs. In addition, the company engages in the insurance agency and reinsurance businesses; administration and servicing of retirement plans; various treasury-related functions with an investment portfolio consisting of mortgage-backed securities, obligations of U.S. government sponsored agencies, and U.S. Treasury securities and money market instruments; and management and participation in public offerings and private placements of debt and equity securities. Further, it offers money management and investment banking services; and engages in the asset/liability management activities, such as purchases and sales of investment securities, interest rate risk management, derivatives, and borrowings. The company operates through a network of 50 branches in Puerto Rico and 2 branches in USVI. OFG Bancorp was founded in 1964 and is headquartered in San Juan, Puerto Rico.Show more

Net Interest Income $588M +4.9%
Total Revenue $823M +13.0%
Net Income $198M +9.0%
Return on Equity 16.19% -0.5%
Net Interest Margin 5.12% +3.5%
Efficiency Ratio 39.49% -8.5%
ROA 1.73% +0.9%
Equity / Assets 10.91% +3.7%
Book Value per Share 26.74 +6.6%
Tangible BV/Share 23.13 +5.9%
Debt/Equity 0.34 +78.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 29.8%
✓Strong Piotroski F-Score: 7/9
✓Strong NIM of 5.1%
✓Efficient operations: 39.5% efficiency ratio
✓Well capitalized: 10.9% equity/assets
✓Good 3Y average ROE of 16.1%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.63%

5Y13.86%

3Y15.14%

TTM-

Profit (Net Income) CAGR

10Y8.81%

5Y29.77%

3Y10.68%

TTM1.26%

EPS CAGR

10Y10.92%

5Y35.68%

3Y14.61%

TTM4.95%

ROCE

10Y Avg11.06%

5Y Avg16.12%

3Y Avg18.5%

Latest14.91%

Peer Comparison

Latin American Retail Banking

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FBPFirst BanCorp.	3.39B	21.44	11.85	6.16%	25.04%	16.62%	11.64%	0.34
OFGOFG Bancorp	1.84B	41.92	9.91	13%	24.09%	14.59%	11.44%	0.34
BSBRBanco Santander (Brasil) S.A.	46.17B	6.18	7.10	6.31%	10.36%	7.84%		1.13
BAPCredicorp Ltd.	25.3B	318.78	4.61	6.4%	20.38%	17.35%	53.01%	1.07
IFSIntercorp Financial Services Inc.	5.01B	45.00	3.95	0.75%	14.68%	16.41%		1.08
INTRInter & Co, Inc.	2.63B	8.15	3.94	27.12%	9.34%	12.37%	100%	1.31
BBDBanco Bradesco S.A.	18.54B	3.51	2.15	-2%	6.91%	12.1%		4.08
ITUBItaú Unibanco Holding S.A.	40.24B	7.44	1.97	6.27%	12.61%	19.74%		4.09

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	337.37M	299.43M	304.17M	315.89M	322.79M	408.43M	407.37M	482.08M	560.87M	588.44M
NII Growth %	-0.17%	-0.11%	0.02%	0.04%	0.02%	0.27%	-0%	0.18%	0.16%	0.05%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	406.57M	356.59M	345.65M	360.42M	373.8M	473.35M	449.2M	515.57M	648.88M	750.28M
Interest Expense	69.2M	57.16M	41.48M	44.52M	51M	64.92M	41.83M	33.49M	88.01M	161.84M
Loan Loss Provision	161.5M	65.08M	113.14M	56.11M	96.79M	92.67M	221K	24.12M	60.64M	82.25M
Non-Interest Income+	-20.15M	29.32M	42.13M	40.5M	56.09M	67.86M	89.89M	82.93M	79.27M	72.5M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	386.42M	385.91M	387.77M	400.92M	429.88M	541.21M	539.08M	598.51M	728.15M	822.77M
Revenue Growth %	-0.19%	-0%	0%	0.03%	0.07%	0.26%	-0%	0.11%	0.22%	0.13%
Non-Interest Expense	175.78M	178.49M	165.07M	167.49M	206.84M	288.8M	282.43M	296.79M	314.25M	324.94M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	-20.06M	85.18M	68.09M	132.8M	75.25M	94.83M	214.6M	244.1M	265.25M	253.75M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-1.16%	5.25%	-0.2%	0.95%	-0.43%	0.26%	1.26%	0.14%	0.09%	-0.04%
Pretax Income+	-20.06M	85.18M	68.09M	132.8M	75.25M	94.83M	214.6M	244.1M	265.25M	253.75M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	-17.55M	25.99M	15.44M	48.39M	21.41M	20.5M	68.45M	77.87M	83.38M	55.58M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	-2.5M	59.19M	52.65M	84.41M	53.84M	74.33M	146.15M	166.24M	181.87M	198.17M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-1.03%	24.64%	-0.11%	0.6%	-0.36%	0.38%	0.97%	0.14%	0.09%	0.09%
Net Income (Continuing)	-2.5M	59.19M	52.65M	84.41M	53.84M	74.33M	146.15M	166.24M	181.87M	198.17M
EPS (Diluted)+	-0.37	1.03	0.86	1.52	0.92	1.32	2.81	3.44	3.82	4.23
EPS Growth %	-1.25%	3.78%	-0.17%	0.77%	-0.39%	0.43%	1.13%	0.22%	0.11%	0.11%
EPS (Basic)	-0.37	1.03	0.88	1.59	0.93	1.32	2.85	3.46	3.85	4.25
Diluted Shares Outstanding	51.45M	51.09M	51.1M	51.35M	51.72M	51.55M	51.37M	48.44M	47.55M	46.9M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	540.06M	513.47M	488.23M	450.06M	851.31M	2.15B	2.02B	550.31M	748.17M	591.14M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	6.03B	5.5B	5.21B	5.7B	7.72B	6.96B	7.23B	8.69B	10.09B	10.35B
Investments Growth %	-0.03%	-0.09%	-0.05%	0.09%	0.35%	-0.1%	0.04%	0.2%	0.16%	0.03%
Long-Term Investments	5.06B	4.75B	4.56B	4.86B	6.64B	6.51B	6.71B	7.28B	7.99B	8.02B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	86.07M	86.07M	86.07M	86.07M	86.07M	86.07M	86.07M	84.24M	84.24M	84.24M
Intangible Assets	15.29M	16.02M	14.51M	14.09M	107.74M	93.19M	85.07M	78.51M	70.21M	85.22M
PP&E (Net)	74.59M	70.41M	67.86M	68.89M	120.22M	115.17M	120.97M	132.18M	125.83M	123.71M
Other Assets	169.87M	151.29M	135.58M	108.65M	149.05M	128.09M	142.35M	106.02M	88.26M	112.33M
Total Current Assets	1.55B	1.3B	1.19B	1.34B	2.02B	2.73B	2.65B	2.08B	2.98B	3.07B
Total Non-Current Assets	5.55B	5.2B	4.99B	5.25B	7.28B	7.1B	7.25B	7.74B	8.36B	8.43B
Total Assets+	7.1B	6.5B	6.19B	6.58B	9.3B	9.83B	9.9B	9.82B	11.34B	11.5B
Asset Growth %	-0.05%	-0.08%	-0.05%	0.06%	0.41%	0.06%	0.01%	-0.01%	0.16%	0.01%
Return on Assets (ROA)	-0%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.02%	0.02%	0.02%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	1.37B	795.35M	328.75M	570.42M	345.4M	134.92M	95.07M	54.4M	224.8M	422.56M
Net Debt	834.83M	284.92M	-156.46M	123.39M	-505.91M	-2.02B	-1.93B	-495.9M	-523.37M	-168.57M
Long-Term Debt	436.84M	141.6M	135.88M	114.92M	115.29M	102.35M	64.57M	27.03M	200.77M	325.95M
Short-Term Debt	934.69M	653.76M	192.87M	455.51M	190.27M	0	0	0	0	75.22M
Other Liabilities	20.74M	26.2M	28.93M	17.27M	22.51M	35.06M	36.13M	28.61M	141.56M	178.3M
Total Current Liabilities	5.74B	5.41B	5.08B	5.45B	8.07B	8.57B	8.7B	8.69B	9.76B	9.68B
Total Non-Current Liabilities	457.59M	167.8M	164.8M	132.19M	177.64M	169.98M	131.2M	83.01M	388.8M	566.36M
Total Liabilities	6.2B	5.58B	5.24B	5.58B	8.25B	8.74B	8.83B	8.78B	10.15B	10.25B
Total Equity+	897.08M	920.41M	945.11M	999.88M	1.05B	1.09B	1.07B	1.04B	1.19B	1.25B
Equity Growth %	-0.05%	0.03%	0.03%	0.06%	0.05%	0.04%	-0.02%	-0.03%	0.14%	0.05%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	-0%	0.07%	0.06%	0.09%	0.05%	0.07%	0.14%	0.16%	0.16%	0.16%
Book Value per Share	17.43	18.02	18.50	19.47	20.21	21.06	20.81	21.52	25.10	26.74
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	52.63M	52.63M	52.63M	59.88M	59.88M	59.88M	59.88M	59.88M	59.88M	59.88M
Additional Paid-in Capital	540.51M	540.95M	541.6M	619.38M	621.51M	622.65M	637.06M	636.79M	638.67M	639.79M
Retained Earnings	149.27M	177.81M	200.88M	253.04M	279.65M	300.1M	399.95M	516.37M	639.32M	771.99M
Accumulated OCI	84.05M	77.89M	78.5M	79.2M	94.77M	114.29M	122.84M	40.49M	83.95M	79.7M
Treasury Stock	-105.38M	-104.86M	-104.5M	-103.63M	-102.34M	-102.95M	-150.57M	-211.13M	-228.35M	-296.99M
Preferred Stock	176M	176M	176M	92M	92M	92M	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	97.08M	78.51M	151.44M	133.35M	109.62M	34.96M	100.04M	164.46M	295.66M	252.5M
Operating CF Growth %	-0.45%	-0.19%	0.93%	-0.12%	-0.18%	-0.68%	1.86%	0.64%	0.8%	-0.15%
Net Income	-2.5M	59.19M	52.65M	84.41M	53.84M	74.33M	146.15M	166.24M	181.87M	198.17M
Depreciation & Amortization	13.01M	11.1M	10.46M	10.22M	9.68M	23.76M	23.93M	24.31M	27.29M	26.79M
Deferred Taxes	-37.33M	23.23M	-3.66M	14.77M	-4.07M	27.85M	63.62M	61.13M	67.35M	21.56M
Other Non-Cash Items	149.33M	-9.76M	79.36M	2.96M	67.03M	-37.87M	-156.23M	-84.89M	13.44M	34.11M
Working Capital Changes	-27.06M	-6.51M	11.62M	19.6M	-19M	-55.27M	16.33M	-6.52M	713K	-35.3M
Cash from Investing+	153.04M	568.06M	187.3M	-488.77M	842.17M	757.5M	-182.93M	-1.51B	-1.4B	-335.98M
Purchase of Investments	-501.26M	-206.02M	-182.05M	-271.64M	-2.2M	-161.81M	-417.07M	-1.47B	-1.08B	-1.33B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	67.27M	-402K	0	0	0	0
Other Investing	278.44M	231.42M	-75.06M	-421.77M	-56.08M	44.34M	140.53M	-418.4M	-808.53M	-344.87M
Cash from Financing+	-286.84M	-672.84M	-363.98M	317.24M	-549.1M	510.36M	-49.04M	-124.7M	1.31B	-73.56M
Dividends Paid	-31.62M	-24M	-24.41M	-24.82M	-20.88M	-20.89M	-20.97M	-30.09M	-41.01M	-45.65M
Share Repurchases	-8.95M	0	0	0	0	-2.23M	-49.87M	-65.02M	-18.65M	-70.32M
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	-1000K	0	-1000K	386K	0	0	-1000K	0	0
Other Financing	-247.32M	-582.29M	-339.56M	362.88M	-528.6M	533.48M	113.81M	6.91M	1.37B	42.41M
Net Change in Cash+	-36.72M	-26.27M	-25.24M	-38.17M	402.69M	1.3B	-131.93M	-1.47B	197.71M	-157.04M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	573.43M	539.74M	510.44M	488.23M	450.06M	852.76M	2.16B	2.02B	550.46M	748.17M
Cash at End	536.71M	513.47M	485.2M	450.06M	852.76M	2.16B	2.02B	550.46M	748.17M	591.14M
Interest Paid	67.77M	56.3M	40.57M	41.32M	41.31M	56.44M	35.34M	26.96M	79.73M	156.79M
Income Taxes Paid	13.97M	10.05M	30K	17.78M	39.38M	6.25M	2.79M	5.13M	15.01M	40.07M
Free Cash Flow+	91.8M	73.22M	144.97M	121.86M	96.65M	19.7M	76.99M	133.46M	277.8M	210.79M
FCF Growth %	-0.45%	-0.2%	0.98%	-0.16%	-0.21%	-0.8%	2.91%	0.73%	1.08%	-0.24%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-0.27%	6.51%	5.64%	8.68%	5.26%	6.97%	13.56%	15.75%	16.27%	16.19%
Return on Assets (ROA)	-0.03%	0.87%	0.83%	1.32%	0.68%	0.78%	1.48%	1.69%	1.72%	1.73%
Net Interest Margin	4.75%	4.61%	4.91%	4.8%	3.47%	4.16%	4.11%	4.91%	4.94%	5.12%
Efficiency Ratio	45.49%	46.25%	42.57%	41.78%	48.12%	53.36%	52.39%	49.59%	43.16%	39.49%
Equity / Assets	12.64%	14.16%	15.27%	15.19%	11.24%	11.05%	10.8%	10.62%	10.52%	10.91%
Book Value / Share	17.43	18.02	18.5	19.47	20.21	21.06	20.81	21.52	25.1	26.74
NII Growth	-17.41%	-11.25%	1.58%	3.85%	2.18%	26.53%	-0.26%	18.34%	16.34%	4.92%
Dividend Payout	-	17.13%	20.05%	15.16%	26.7%	19.35%	13.49%	18.1%	22.55%	23.03%

Revenue by Segment

	2013	2014	2015	2016	2017
Major	1.81M	1.74M	2.38M	2.4M	2.35M
Major Growth	-	-4.19%	36.73%	1.22%	-2.16%
Banking	618K	1.41M	1.43M	1.52M	1.6M
Banking Growth	-	128.16%	1.21%	6.59%	5.46%
Treasury	1.2M	327K	948K	883K	748K
Treasury Growth	-	-72.64%	189.91%	-6.86%	-15.29%
Consolidated Total	-	-	-	-	-
Consolidated Total Growth	-	-	-	-	-
Wealth Management	-	-	-	-	-
Wealth Management Growth	-	-	-	-	-
Intersegment Elimination	-1.81M	-1.74M	-2.38M	-2.4M	-2.35M
Intersegment Elimination Growth	-	4.19%	-36.73%	-1.22%	2.16%

Frequently Asked Questions

Valuation & Price

OFG Bancorp (OFG) has a price-to-earnings (P/E) ratio of 9.9x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

OFG Bancorp (OFG) grew revenue by 13.0% over the past year. This is steady growth.

Yes, OFG Bancorp (OFG) is profitable, generating $194.7M in net income for fiscal year 2024 (24.1% net margin).

Dividend & Returns

Yes, OFG Bancorp (OFG) pays a dividend with a yield of 2.32%. This makes it attractive for income-focused investors.

OFG Bancorp (OFG) has a return on equity (ROE) of 16.2%. This is reasonable for most industries.

Industry Metrics

OFG Bancorp (OFG) has a net interest margin (NIM) of 5.1%. This indicates healthy earnings from lending activities.

OFG Bancorp (OFG) has an efficiency ratio of 39.5%. This is excellent, indicating strong cost control.

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