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what it is
OFG is a Puerto Rico-focused bank that makes money from loans, wealth advice, insurance, and treasury services.
how it gets paid
Last year Ofg Bancorp made n/a in revenue. Banking was the main engine at $561.5M, or 90% of sales.
what just happened
The latest reported quarter delivered $1.16 in EPS, ahead of the available consensus figure tied to that report cycle.
At a glance
B++ balance sheet — above average — nothing keeping you up at night
45/100 earnings predictability — expect surprises
10.2x trailing p/e — the market's not buying it — or you found a deal
3.6% dividend yield — cash in your pocket every quarter
13.2% return on capital — nothing to write home about
xvary composite: 59/100 — below average
What they do
OFG is a Puerto Rico-focused bank that makes money from loans, wealth advice, insurance, and treasury services.
This is a local scale story. OFG runs 42 branches in Puerto Rico versus 2 in the U.S. Virgin Islands, according to the company profile in the primary research source. If you bank where your paycheck lands, your mortgage sits, and your broker answers the phone, switching gets annoying fast.
How they make money
n/a
annual revenue
Banking
$561.5M
Wealth Management
$31.2M
Treasury
$31.2M
The products that matter
consumer and commercial lending
banking
core business · latest sales $185.4M
banking is the center of gravity in a company that produced $623.9M of trailing revenue. if loan demand stalls or credit costs rise, the whole story feels it.
main engine
investment and retirement advice
wealth management
fee income support · predictability matters
this helps offset pure lending exposure. with earnings predictability at only 45/100, any business that is less tied to loan spreads matters more than it would at a steadier bank.
fee income
insurance products and brokerage
insurance
small enough that this page gives no standalone revenue
that tells you what it is: support, not thesis. in a bank valued near $2B, insurance helps the mix, but it is not what gets the multiple rerated.
support act
Key numbers
10.2x
trailing p/e
P/E → how many dollars you pay for $1 of earnings → so what: you are paying a below-market multiple for a bank that just posted $4.23 in annual EPS.
$4.23
2024 EPS
EPS → profit per share → so what: OFG grew from $3.44 in 2022 to $4.23 in 2024, which is a 23.0% increase across two years.
3.6%
dividend yield
Dividend yield → your cash payout at today's price → so what: you get paid to wait while the market decides what this bank is worth.
13.2%
return on capital
Return on capital → profit earned on money put to work → so what: 13.2% says OFG is profitable, not just cheap.
Financial health
B++
strength
- balance sheet grade B++ — above average financial health
- risk rank 3 — safer than 50% of stocks
- price stability 70 / 100
B++ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for OFG right now.
source: institutional data · return history unavailable
What just happened
beat estimates
The latest reported quarter delivered $1.16 in EPS, ahead of the available consensus figure tied to that report cycle.
Quarterly EPS in the primary research source ran $1.06, $1.08, $1.00, and $1.09 through 2024, for $4.23 on the year. That is steadier than many regional banks, which matters when the stock trades at 10.2x earnings.
$184.3M
revenue
$1.16
eps
n/a
n/a
the number that mattered
The key number is $4.23 in full-year 2024 EPS, because your valuation math starts there and the stock still trades at just 10.2x earnings.
source: company earnings report, 2026
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What could go wrong
the #1 risk is puerto rico credit stress.
high
puerto rico credit stress
you do not own a diversified national lender. you own a bank tied to one regional economy. if unemployment rises or borrowers weaken locally, loan growth and credit quality get hit together.
that would pressure the lending book that supports a $623.9M revenue run rate and a 32.9% margin.
med
funding-cost reset from the $200M note deal
the new 2036 notes start fixed and then float. that is manageable if funding stays calm. it is less comfortable if rates stay high and deposit competition heats up.
watch net interest pressure, not just reported earnings.
med
earnings quality fading back to the 2% growth reality
last quarter looked good, but EPS grew 17% while core revenue grew 2%. if tax benefits fade and the top line stays slow, the low multiple stops looking cheap and starts looking accurate.
the market does not need a collapse to keep OFG stuck at a discounted multiple.
when a bank trades at 8.6x earnings, the market is telling you it does not trust the current profit level to cruise untouched. OFG has to keep credit clean and show growth beyond 2%.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
core revenue growth above 2%
that is the number that mattered last quarter. if growth stays stuck at 2%, the cheap multiple has no reason to expand.
calendar
Q1 CY2026 earnings
expected late april 2026. you want to see whether quarterly sales move above the recent $185.4M level without leaning on one-off tax help.
risk
the $200M fixed-to-floating note structure
funding is never exciting until it is. if management starts talking more about deposit costs or funding mix, pay attention.
trend
dividend confidence after the 17% hike
a higher payout is a vote of confidence. the follow-through matters more. you want dividend growth backed by recurring earnings, not just one clean quarter.
Analyst rankings
earnings predictability
45 / 100
in human-speak, this bank can deliver uneven quarters even when the long-term picture looks fine.
street stance
hold · $43.75
the street sees limited upside from $41.58. they do not hate it. they just want more proof.
source: institutional data
Institutional activity
institutional ownership data for OFG is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$42
current price
n/a
target midpoint · n/a from current
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