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OFG Bancorp Announces New $100 Million Share Repurchase Plan

1. OFG Bancorp approved a $100 million stock repurchase plan, enhancing shareholder value.

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FAQ

Why Bullish?

Stock repurchase plans typically signal company confidence and can boost share prices, as seen historically with other firms engaging in similar buybacks. For example, companies like Apple have historically seen stock price appreciation following buyback announcements due to reduced supply and increased EPS.

How important is it?

The announcement is directly relevant to OFG's financial strategy and signals management's commitment to enhancing shareholder value, which is likely to attract investors looking for stability and growth.

Why Short Term?

The immediate effects of the repurchase authorization could positively influence OFG's stock in the short term due to anticipated demand and investor sentiment.

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SAN JUAN, Puerto Rico--(BUSINESS WIRE)--OFG Bancorp (NYSE: OFG) today announced its Board of Directors approved a new $100 million stock repurchase authorization plan as part of OFG's capital actions. The new plan, which is open-ended, is in addition to the previously authorized stock repurchase plan. About OFG Bancorp Now in its 61st year in business, OFG Bancorp is a diversified financial holding company that operates under U.S., Puerto Rico and U.S. Virgin Islands banking laws and regulation.

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