Profit Fan

OFG Bancorp: The Risk Is Worth The Reward

Compared to its island peers, OFG Bancorp (NYSE:OFG) appears to have a repellent for common Puerto Rican bank diseases like bad loans and nonperforming assets. The bank has now had a little more than a year to integrate its very large asset purchase from Banco Bilbao and the fruits of its labor are starting to ripen.

This has been my favorite holding for some time now but shares have barely budged from my two prior calls. Because of this, it would probably be easier to write an update siding with the market and turning this bank into a money pit destined to fail along with the Puerto Rican government as bonds default and its other major competitors continue...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
  • Access Top Ideas, chosen by Seeking Alpha’s editors
  • Filter long and short ideas by market cap and sector
  • Get Coverage of over 5,000 stocks, many of which have little or no coverage elsewhere
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO." Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else." Patrick Rice, Mainstay Capital Management
100% Satisfaction Guaranteed
Money back guarantee. Seeking Alpha PRO members receive a no-questions-asked refund for membership on months paid and not used. Details