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home / news releases / OFG - OFG Bancorp: Loan Trend Remains Worrisome

OFG - OFG Bancorp: Loan Trend Remains Worrisome

OFG Bancorp
  • A slow release of relief funds and the persistently high unemployment rate are creating concerns for loan growth. On the plus side, Puerto Rico is leading in handling the pandemic.
  • The loan portfolio will likely bottom out soon.
  • Further release of loan loss reserves is unlikely because the reserve level is comfortable relative to actual loan losses. Nevertheless, provisioning will most probably remain below normal.
  • Next year's target price suggests a small downside from the current market price. Further, OFG is offering a low dividend yield.

For further details see:

OFG Bancorp: Loan Trend Remains Worrisome
Stock Information
Company Name: OFG Bancorp
Stock Symbol: OFG
Market: NYSE
Website: ofgbancorp.com
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