OFG Bancorp Reports 1Q20 Results
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 6/24/2026
- Wall Street ends lower on semiconductor selloff as AI spending concerns mount
- Alphabet added to Dow Jones Industrial Average, Verizon dropped
- Chip stocks plunge, but bargain-hunters limit scale of tech rout
- FedEx falls 4% as CY2026 profit forecast misses expectations despite Q4 beat
- Oil prices finish 1% lower as investors focus on Hormuz flows after peace talks
- Needham Starts NeoVolta (NEOV) at Buy
- NextEra to discuss paying about $76 per share for Dominion, Bloomberg News reports
- Wall Street ends lower on semiconductor selloff as AI spending concerns mount
- Campbell Soup (CPB) Declares $0.39 Quarterly Dividend; 7.7% Yield
- KKR launches Helix with over $10 billion to build AI infrastructure
OFG Bancorp (OFG) Reports 1Q Revenues Above Consensus
April 29, 2020 7:34 AM EDTOFG Bancorp (NYSE: OFG) reported Q1 EPS of $0.00, $0.43 worse than the analyst estimate of $0.43. Revenue for the quarter came in at $131.3 million versus the consensus estimate of $113.67 million.
1Q20 Highlights
Strong increase in core net revenues due to the December 31, 2019 acquisition of the Puerto Rico and U.S. Virgin Islands operations of The Bank of Nova Scotia (Scotiabank), and a major reserve build reflecting CECL as well as anticipated changes in Puerto Rico and USVI macroeconomic scenarios due to the effect of the coronavirus pandemic.Core net revenues of $131.3 million, CECL Day 1 allowance of... More