OFG Bancorp (OFG) Tops Q4 EPS by 24c

OFG Bancorp (NYSE: OFG) reported Q4 EPS of $0.37, $0.24 better than the analyst estimate of $0.13.

4Q17 Summary

• Net income available to shareholders increased to $13.6 million, or $0.30 per share fully diluted, from a net loss of $146 thousand, or $0.00 per share, in 3Q17. OFG reported net income of $12.1 million, or $0.27 per share fully diluted, in 4Q16.
• Return on average assets and average tangible common equity was 1.10% and 7.92%, respectively. Tangible book value per common share was $15.67, and the tangible common equity ratio was 11.29%.
• 4Q17 results included $5.4 million in loan loss provision, pre-tax, based on new data available on the potential impact of the hurricanes. Excluding that additional provision, 4Q17 adjusted net income available to shareholders totaled $16.9 million, or $0.37 per share fully diluted.

For earnings history and earnings-related data on OFG Bancorp (OFG) click here.

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