Keefe Bruyette & Woods Gives Color On Oriental Financial Group Following Earnings Release

Oriental Financial Group's *OFG earnings power rebounding due to rise in NIM. Keefe Bruyette & Woods included the DTA in its operating EPS estimates but adding back the DTA gets you to a +$0.24 run rate for the quarter. Credit quality looks good and capital is likely the highest on the island. Given its excess capital levels, the company has the ability to repurchase a significant amount of its shares. Risks that could inhibit achievement of the price target include, but are not limited to, interest rate risk, fluctuations in the Puerto Rico economy, credit quality deterioration and the Eurobank FDIC-assisted transaction. Keefe Bruyette & Woods has an Outperform rating and $16 PT on OFG Oriental Financial Group is trading lower at $12.22