Monitor the Q4 earnings call for net interest margin trajectory and loan growth sustainability, as NIM compression and higher deposit costs are key headwinds. The improved credit quality and efficiency ratio are positives, but the sequential revenue decline warrants attention.
Price Chart
Executive Summary
OFG Bancorp reported Q3 2026 EPS of $1.33, essentially in line with consensus of $1.33, and core revenues of $185.7M, slightly below the $189.1M estimate. Net interest margin compressed to 5.23% from 5.45% in Q2, while credit quality improved with net charge-offs falling to 0.70% from 1.40%. The sequential EPS decline and revenue miss are offset by strong year-over-year EPS growth of 14.7% and a lower efficiency ratio of 51.83%.
Key Financial Metrics
Key Facts
- Q3 2026 diluted EPS of $1.33 vs $1.39 in Q2 2026 and $1.16 in Q3 2025 (YoY +14.7%)
- Total core revenues of $185.7M vs $190.3M in Q2 2026 and $184.0M in Q3 2025 (YoY +1.0%)
- Net interest margin of 5.23% vs 5.45% in Q2 2026 and 5.24% in Q3 2025
- Net charge-off rate improved to 0.70% from 1.40% in Q2 2026 and 1.00% in Q3 2025
- Efficiency ratio improved to 51.83% from 54.04% in Q2 2026 and 52.48% in Q3 2025
- Loans held for investment grew 1.8% sequentially to $8.45B; CET1 ratio 14.10%
- Repurchased $13.5M of common shares during the quarter
- Tangible book value per share declined to $29.66 from $31.12 in Q2 due to AOCI change
Financial Impact
EPS in line with consensus; revenue slightly below consensus by ~1.8%
Risk Factors
- Net interest margin compression from 5.45% to 5.23% sequentially
- Higher deposit costs pressuring net interest income
- Tangible book value decline due to AOCI losses from rising rates
- Auto loan delinquency rate increased to 6.73% from 6.02% in Q2
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001030469-26-000043 |
| Document: ofg-20261021.htm | 0001030469-26-000043 |
| Document: 0001030469-26-000043-index-headers.html | 0001030469-26-000043 |
| Document: 0001030469-26-000043-index.html | 0001030469-26-000043 |
| Document: 0001030469-26-000043.txt | 0001030469-26-000043 |
| 8-K Data (Synthetic) | 0001030469-26-000043 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 5d ago | 8-K | $50.50 | awaiting T+60 | — | $51.51 (+2.00%) |
Jul 21, 2026 13w ago | 8-K | $52.90 $50.86 | ▼ −3.86% | ▼ −7.83% | $51.51 (−2.63%) |
Apr 21, 2026 26w ago | 8-K | $44.71 $51.17 | ▲ +14.45% | ▲ +7.55% | $51.51 (+15.21%) |
Mar 11, 2026 32w ago | S-1 | $38.70 $44.73 | ▲ +15.59% | ▲ +4.07% | $51.51 (+33.11%) |
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