OFG Bancorp Reports 1Q20 Results
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 8/16/2026
- S&P 500 ends lower as investors weigh data, Middle East tensions
- BofA's Hartnett explains why Wall Street is trading with 'no fear'
- Oil rises after US threatens indefinite blockade of Iran; set for weekly gains
- Are KOSPI and SOX in a bubble? Citi answers
- Could Intel return to the red-hot memory market after $20B raise and recent hire?
- S&P 500 ends lower as investors weigh data, Middle East tensions
- BOJ eyeing September rate hike, faster pace of tightening, sources say
- BofA's Hartnett explains why Wall Street is trading with 'no fear'
- SanDisk upgraded at JPMorgan after investor day; shares climb
- Micron: New Street upgrades to buy, says memory is no longer a cyclical story
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