Puerto Rican financial services company OFG Bancorp (NYSE: OFG) will be announcing earnings results this Tuesday morning. Here’s what to expect.
OFG Bancorp met analysts’ revenue expectations last quarter, reporting revenues of $185.4 million, up 1.9% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates but a slight miss of analysts’ net interest income estimates.
Is OFG Bancorp a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting OFG Bancorp’s revenue to be flat year on year, slowing from the 2.4% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. OFG Bancorp has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at OFG Bancorp’s peers in the regional banks segment, some have already reported their Q1 results, giving us a hint as to what we can expect. BancFirst delivered year-on-year revenue growth of 7.8%, beating analysts’ expectations by 1%, and KeyCorp reported revenues up 10.2%, topping estimates by 0.7%. BancFirst traded up 3.6% following the results while KeyCorp was also up 1.1%.
Read our full analysis of BancFirst’s results here and KeyCorp’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 9.9% on average over the last month. OFG Bancorp is up 7.7% during the same time and is heading into earnings with an average analyst price target of $43.25 (compared to the current share price of $42.59).
ALSO WORTH WATCHING: Nvidia’s Quiet Partner. Nvidia’s chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all.
Every AI server needs specialized infrastructure the chip companies don’t make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. Claim The Stock Ticker Here for FREE.
