Intrinsic value of OFG Bancorp - OFG

Previous Close

$15.90

  Intrinsic Value

$0.00

stock screener

  Rating & Target

str. sell

-100%

Previous close

$15.90

 
Intrinsic value

$0.00

 
Up/down potential

-100%

 
Rating

str. sell

Our model is not good at valuating stocks of financial companies, such as OFG.

We calculate the intrinsic value of OFG stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  275
  282
  289
  297
  306
  316
  327
  338
  351
  364
  379
  394
  411
  428
  446
  466
  487
  509
  532
  556
  582
  609
  638
  668
  700
  733
  769
  806
  845
  886
Variable operating expenses, $m
  126
  128
  132
  135
  140
  144
  149
  154
  160
  166
  173
  180
  187
  195
  204
  212
  222
  232
  242
  254
  265
  278
  291
  305
  319
  334
  350
  367
  385
  404
Fixed operating expenses, $m
  82
  84
  85
  87
  89
  91
  93
  95
  97
  99
  102
  104
  106
  108
  111
  113
  116
  118
  121
  124
  126
  129
  132
  135
  138
  141
  144
  147
  150
  154
Total operating expenses, $m
  208
  212
  217
  222
  229
  235
  242
  249
  257
  265
  275
  284
  293
  303
  315
  325
  338
  350
  363
  378
  391
  407
  423
  440
  457
  475
  494
  514
  535
  558
Operating income, $m
  68
  70
  72
  74
  77
  81
  85
  89
  94
  99
  104
  111
  117
  124
  132
  140
  149
  158
  168
  179
  190
  202
  215
  229
  243
  258
  274
  291
  309
  328
EBITDA, $m
  716
  733
  752
  773
  797
  824
  853
  885
  919
  956
  996
  1,038
  1,083
  1,131
  1,182
  1,237
  1,294
  1,355
  1,419
  1,487
  1,559
  1,635
  1,716
  1,800
  1,889
  1,983
  2,082
  2,186
  2,296
  2,412
Interest expense (income), $m
  56
  282
  262
  267
  274
  281
  289
  297
  306
  317
  327
  339
  352
  365
  379
  394
  410
  427
  445
  464
  484
  506
  528
  552
  576
  603
  630
  659
  690
  722
  756
Earnings before tax, $m
  -214
  -192
  -196
  -199
  -203
  -208
  -213
  -218
  -223
  -229
  -235
  -241
  -248
  -255
  -262
  -270
  -278
  -287
  -296
  -305
  -315
  -326
  -337
  -348
  -360
  -372
  -385
  -399
  -413
  -428
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -214
  -192
  -196
  -199
  -203
  -208
  -213
  -218
  -223
  -229
  -235
  -241
  -248
  -255
  -262
  -270
  -278
  -287
  -296
  -305
  -315
  -326
  -337
  -348
  -360
  -372
  -385
  -399
  -413
  -428

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  4,918
  5,031
  5,160
  5,305
  5,466
  5,643
  5,835
  6,043
  6,267
  6,508
  6,765
  7,039
  7,332
  7,642
  7,972
  8,321
  8,691
  9,082
  9,496
  9,932
  10,392
  10,878
  11,390
  11,929
  12,497
  13,094
  13,724
  14,386
  15,083
  15,816
Adjusted assets (=assets-cash), $m
  4,918
  5,031
  5,160
  5,305
  5,466
  5,643
  5,835
  6,043
  6,267
  6,508
  6,765
  7,039
  7,332
  7,642
  7,972
  8,321
  8,691
  9,082
  9,496
  9,932
  10,392
  10,878
  11,390
  11,929
  12,497
  13,094
  13,724
  14,386
  15,083
  15,816
Revenue / Adjusted assets
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
Average production assets, $m
  6,479
  6,628
  6,798
  6,990
  7,202
  7,434
  7,687
  7,961
  8,257
  8,573
  8,912
  9,274
  9,659
  10,069
  10,503
  10,963
  11,450
  11,966
  12,510
  13,085
  13,691
  14,331
  15,005
  15,716
  16,464
  17,251
  18,081
  18,953
  19,871
  20,836
Working capital, $m
  -5,257
  -5,377
  -5,516
  -5,671
  -5,843
  -6,031
  -6,237
  -6,459
  -6,699
  -6,956
  -7,231
  -7,524
  -7,837
  -8,169
  -8,521
  -8,895
  -9,290
  -9,708
  -10,150
  -10,616
  -11,108
  -11,627
  -12,174
  -12,750
  -13,357
  -13,996
  -14,669
  -15,377
  -16,122
  -16,905
Total debt, $m
  4,850
  4,952
  5,068
  5,199
  5,343
  5,502
  5,675
  5,862
  6,064
  6,280
  6,512
  6,759
  7,022
  7,302
  7,599
  7,913
  8,246
  8,598
  8,970
  9,362
  9,777
  10,214
  10,674
  11,159
  11,671
  12,209
  12,775
  13,371
  13,998
  14,658
Total liabilities, $m
  4,426
  4,528
  4,644
  4,775
  4,920
  5,078
  5,251
  5,439
  5,640
  5,857
  6,088
  6,335
  6,599
  6,878
  7,175
  7,489
  7,822
  8,174
  8,546
  8,939
  9,353
  9,790
  10,251
  10,736
  11,247
  11,785
  12,351
  12,947
  13,575
  14,234
Total equity, $m
  492
  503
  516
  531
  547
  564
  583
  604
  627
  651
  676
  704
  733
  764
  797
  832
  869
  908
  950
  993
  1,039
  1,088
  1,139
  1,193
  1,250
  1,309
  1,372
  1,439
  1,508
  1,582
Total liabilities and equity, $m
  4,918
  5,031
  5,160
  5,306
  5,467
  5,642
  5,834
  6,043
  6,267
  6,508
  6,764
  7,039
  7,332
  7,642
  7,972
  8,321
  8,691
  9,082
  9,496
  9,932
  10,392
  10,878
  11,390
  11,929
  12,497
  13,094
  13,723
  14,386
  15,083
  15,816
Debt-to-equity ratio
  9.860
  9.840
  9.820
  9.800
  9.780
  9.750
  9.730
  9.700
  9.680
  9.650
  9.630
  9.600
  9.580
  9.550
  9.530
  9.510
  9.490
  9.470
  9.450
  9.430
  9.410
  9.390
  9.370
  9.360
  9.340
  9.320
  9.310
  9.290
  9.280
  9.270
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -214
  -192
  -196
  -199
  -203
  -208
  -213
  -218
  -223
  -229
  -235
  -241
  -248
  -255
  -262
  -270
  -278
  -287
  -296
  -305
  -315
  -326
  -337
  -348
  -360
  -372
  -385
  -399
  -413
  -428
Depreciation, amort., depletion, $m
  648
  663
  680
  699
  720
  743
  769
  796
  826
  857
  891
  927
  966
  1,007
  1,050
  1,096
  1,145
  1,197
  1,251
  1,308
  1,369
  1,433
  1,501
  1,572
  1,646
  1,725
  1,808
  1,895
  1,987
  2,084
Funds from operations, $m
  434
  471
  484
  500
  517
  536
  556
  579
  603
  629
  657
  686
  718
  752
  788
  826
  867
  910
  955
  1,003
  1,054
  1,107
  1,164
  1,224
  1,287
  1,353
  1,423
  1,497
  1,574
  1,656
Change in working capital, $m
  -103
  -121
  -138
  -155
  -172
  -189
  -205
  -222
  -240
  -257
  -275
  -293
  -312
  -332
  -352
  -373
  -395
  -418
  -442
  -466
  -492
  -519
  -547
  -576
  -607
  -639
  -673
  -708
  -745
  -783
Cash from operations, $m
  537
  592
  622
  655
  689
  724
  762
  801
  842
  886
  932
  980
  1,031
  1,084
  1,140
  1,200
  1,262
  1,328
  1,397
  1,469
  1,546
  1,626
  1,711
  1,800
  1,894
  1,992
  2,096
  2,204
  2,319
  2,439
Maintenance CAPEX, $m
  -635
  -648
  -663
  -680
  -699
  -720
  -743
  -769
  -796
  -826
  -857
  -891
  -927
  -966
  -1,007
  -1,050
  -1,096
  -1,145
  -1,197
  -1,251
  -1,308
  -1,369
  -1,433
  -1,501
  -1,572
  -1,646
  -1,725
  -1,808
  -1,895
  -1,987
New CAPEX, $m
  -134
  -149
  -170
  -191
  -212
  -233
  -253
  -274
  -295
  -317
  -339
  -362
  -385
  -409
  -434
  -460
  -487
  -515
  -544
  -575
  -607
  -640
  -674
  -710
  -748
  -788
  -829
  -872
  -918
  -965
Cash from investing activities, $m
  -769
  -797
  -833
  -871
  -911
  -953
  -996
  -1,043
  -1,091
  -1,143
  -1,196
  -1,253
  -1,312
  -1,375
  -1,441
  -1,510
  -1,583
  -1,660
  -1,741
  -1,826
  -1,915
  -2,009
  -2,107
  -2,211
  -2,320
  -2,434
  -2,554
  -2,680
  -2,813
  -2,952
Free cash flow, $m
  -231
  -205
  -211
  -216
  -222
  -228
  -235
  -242
  -249
  -257
  -265
  -273
  -282
  -291
  -301
  -311
  -322
  -333
  -344
  -356
  -369
  -382
  -396
  -411
  -426
  -442
  -459
  -476
  -494
  -513
Issuance/(repayment) of debt, $m
  -376
  102
  116
  131
  145
  159
  173
  187
  202
  216
  232
  247
  263
  280
  297
  314
  333
  352
  372
  393
  414
  437
  461
  485
  511
  538
  566
  596
  627
  660
Issuance/(repurchase) of shares, $m
  709
  203
  209
  214
  219
  225
  232
  238
  245
  253
  260
  269
  277
  286
  295
  305
  315
  326
  337
  349
  361
  374
  388
  402
  417
  432
  448
  465
  483
  501
Cash from financing (excl. dividends), $m  
  333
  305
  325
  345
  364
  384
  405
  425
  447
  469
  492
  516
  540
  566
  592
  619
  648
  678
  709
  742
  775
  811
  849
  887
  928
  970
  1,014
  1,061
  1,110
  1,161
Total cash flow (excl. dividends), $m
  101
  100
  114
  128
  142
  156
  170
  184
  198
  212
  227
  242
  258
  274
  291
  309
  327
  345
  365
  385
  407
  429
  452
  476
  502
  528
  556
  585
  615
  647
Retained Cash Flow (-), $m
  -709
  -203
  -209
  -214
  -219
  -225
  -232
  -238
  -245
  -253
  -260
  -269
  -277
  -286
  -295
  -305
  -315
  -326
  -337
  -349
  -361
  -374
  -388
  -402
  -417
  -432
  -448
  -465
  -483
  -501
Prev. year cash balance distribution, $m
  3
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  3
Cash available for distribution, $m
  -605
  -104
  -94
  -86
  -77
  -70
  -62
  -55
  -47
  -40
  -33
  -26
  -19
  -12
  -4
  3
  11
  19
  28
  36
  45
  55
  64
  74
  85
  96
  108
  120
  133
  146
Discount rate, %
  15.80
  16.59
  17.42
  18.29
  19.20
  20.17
  21.17
  22.23
  23.34
  24.51
  25.74
  27.02
  28.37
  29.79
  31.28
  32.85
  34.49
  36.21
  38.02
  39.93
  41.92
  44.02
  46.22
  48.53
  50.96
  53.50
  56.18
  58.99
  61.94
  65.03
PV of cash for distribution, $m
  -522
  -76
  -58
  -44
  -32
  -23
  -16
  -11
  -7
  -4
  -3
  -1
  -1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  50.0
  35.4
  25.0
  17.7
  12.5
  8.9
  6.3
  4.5
  3.2
  2.3
  1.6
  1.2
  0.8
  0.6
  0.4
  0.3
  0.2
  0.2
  0.1
  0.1
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

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).

FINANCIAL RATIOS  of  OFG Bancorp (OFG)

Valuation Ratios
P/E Ratio 11.8
Price to Sales 0
Price to Book 0.8
Price to Tangible Book
Price to Cash Flow 8.8
Price to Free Cash Flow 9.4
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate -11.1%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 75%
Total Debt to Equity 75%
Interest Coverage 3
Management Effectiveness
Return On Assets 1.4%
Ret/ On Assets - 3 Yr. Avg. 1.1%
Return On Total Capital 3.3%
Ret/ On T. Cap. - 3 Yr. Avg. 2.4%
Return On Equity 6.5%
Return On Equity - 3 Yr. Avg. 5.2%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 0%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 30.6%
Eff/ Tax Rate - 3 Yr. Avg. 48.6%
Payout Ratio 40.7%

OFG stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the OFG stock intrinsic value calculation we used $270 million for the last fiscal year's total revenue generated by OFG Bancorp. The default revenue input number comes from 2017 income statement of OFG Bancorp. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our OFG stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 15.8%, whose default value for OFG is calculated based on our internal credit rating of OFG Bancorp, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of OFG Bancorp.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of OFG stock the variable cost ratio is equal to 45.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $80 million in the base year in the intrinsic value calculation for OFG stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for OFG Bancorp.

Corporate tax rate of 27% is the nominal tax rate for OFG Bancorp. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the OFG stock is equal to 0.4%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for OFG are equal to 2352.6%.

Life of production assets of 10 years is the average useful life of capital assets used in OFG Bancorp operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for OFG is equal to -1908.7%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $0 million for OFG Bancorp - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 51 million for OFG Bancorp is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of OFG Bancorp at the current share price and the inputted number of shares is $0.8 billion.

RELATED COMPANIES Price Int.Val. Rating
STBZ State Bank Fin 33.91 12.08  str.sell

COMPANY NEWS

▶ OFG: 2Q Earnings Snapshot   [09:04AM  Associated Press]
▶ OFG Bancorp Reports 2Q18 Results   [07:30AM  Business Wire]
▶ 20 Small-Cap Stocks With the Potential for Outsized Gains   [Jul-12-18 03:20PM  InvestorPlace]
▶ OFG & Oriental Win Top Honor for Digital Annual Report Site   [Jul-11-18 01:30PM  Business Wire]
▶ 5 Top-Ranked Small Caps to Buy as Trade Tensions Escalate   [Jun-11-18 12:45PM  InvestorPlace]
▶ OFG: 1Q Earnings Snapshot   [Apr-20-18 09:33AM  Associated Press]
▶ OFG Bancorp Reports 1Q18 Results   [07:30AM  Business Wire]
▶ OFGs Oriental Intros My Payments Service   [Apr-09-18 01:00PM  Business Wire]
▶ OFG Bancorp Initiates Digital Site for Annual Report   [Apr-03-18 11:30AM  Business Wire]
▶ OFG posts 4Q profit   [Jan-30-18 07:57AM  Associated Press]
▶ OFG Bancorp Reports 4Q17 & 2017 Results   [07:30AM  Business Wire]
▶ Why OFG Bancorp (NYSE:OFG) Could Be A Buy   [Jan-25-18 04:33PM  Simply Wall St.]
▶ ETFs with exposure to OFG Bancorp : November 28, 2017   [Nov-28-17 12:59PM  Capital Cube]
▶ OFGs Oriental Introduces Next Generation ATMs   [Nov-21-17 09:00AM  Business Wire]
▶ ETFs with exposure to OFG Bancorp : November 14, 2017   [Nov-14-17 02:39PM  Capital Cube]
▶ OFG Bancorp Value Analysis (NYSE:OFG) : November 9, 2017   [Nov-09-17 01:34PM  Capital Cube]
▶ OFG posts 3Q profit   [Oct-25-17 07:59AM  Associated Press]
▶ OFG Bancorp Reports 3Q17 Results   [07:30AM  Business Wire]
▶ ETFs with exposure to OFG Bancorp : October 16, 2017   [Oct-16-17 09:57AM  Capital Cube]
▶ ETFs with exposure to OFG Bancorp : October 4, 2017   [Oct-04-17 10:53AM  Capital Cube]
▶ Why OFG Bancorp (OFG) May Not Be As Efficient As Its Industry   [Sep-29-17 05:02PM  Simply Wall St.]
▶ OFG Bancorp Reports Operations Normal   [Sep-08-17 01:03PM  Business Wire]
▶ OFG posts 2Q profit   [Jul-21-17 08:55PM  Associated Press]
▶ OFG Bancorp Reports 2Q17 Results   [07:30AM  Business Wire]
▶ OFG Bancorp Value Analysis (NYSE:OFG) : July 5, 2017   [Jul-05-17 01:50PM  Capital Cube]
▶ ETFs with exposure to OFG Bancorp : May 11, 2017   [May-11-17 05:16PM  Capital Cube]
▶ OFG posts 1Q profit   [Apr-21-17 08:03AM  Associated Press]
▶ OFG Bancorp Reports 1Q17 Results   [07:30AM  Business Wire]
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