OFG ==> The Titans Are Coming to AC Winner!!

[Karel]

No, I am not. It isn't good news after all. The stock may turn around, alright, but right now, I will hold. Selling would be an option too, as the pattern of growing earnings has been broken, but I'll hold.

Regards,

Karel

[mrmarket]

No, I am not. It isn't good news after all. The stock may turn around, alright, but right now, I will hold. Selling would be an option too, as the pattern of growing earnings has been broken, but I'll hold.

Regards,

Karel

It will be interesting to see how the other Puerto Rican banks have fared as well as all of the S&L universe. If OFG, on its own, is demonstrating poor performance, then it might be time to take a hard look at this one. Certainly its failure to meet expectations, without any prior warning, is very peculiar.

[mrmarket]

Reason to Hold

It appears that every time OFG took a dip, it was able to rally and outperform the S&P 500....so I'm holding for now:

[jiesen]

I just bought some more (half of my original position) on this dip. We'll see how it turns out... but I think the market is severely overreacting to the drop in earnings. They will come back when the fed quits jacking up the rates.

Besides, they are still earning money, not losing it, and a company can only earn so much before the stock price has to move back up to reflect it.

OFG BV=330M, market cap=340
Earnings are 60M/year. So maybe they drop to 50M or even 40M. In a year or two, we will see a 20-30% increase in BV! As long as they can get things in order by then, and there aren't any nasty surprises, we should do just fine.

[grebnet]

This statement worried me so I jumped ship... I think it is dead money for a while. There are plenty of beat up stocks for no reason to put money into while this flounders.

"While the next several quarters are likely to continue to reflect this challenging rate environment, and thus earnings will continue to be lower than a year ago, we expect to remain profitable "

[mrmarket]

This statement worried me so I jumped ship... I think it is dead money for a while. There are plenty of beat up stocks for no reason to put money into while this flounders.

"While the next several quarters are likely to continue to reflect this challenging rate environment, and thus earnings will continue to be lower than a year ago, we expect to remain profitable "

Like I said, it would be interesting to see how the other Puerto Rico banks are doing. OFG looks really really really cheap right now. Even if their earnings, are cut in half next year, its trailing PE will still be only 11 and if you buy now, you get a 4% dividend which is not "dead money".

[mrmarket]

Nice bounce today on pretty good volume.

[jiesen]

Nice bounce today on pretty good volume.

well a deal like 4% dividend from a bank with earnings as high as OFG's couldn't last very long, could it? buying OFG here is just too easy.

[rickflyboy]

Mr MM are you going to double down on OFG?

[mrmarket]

Mr MM are you going to double down on OFG?

I don't double down as a matter of principle as it violates my diversification ideals.

If I had to double down on one of my losers, it would be on BEL.

[Websman]

If I had to double down on one of my losers, it would be on BEL.

I'm not sure I would call OFG and BEL losers. I think a better term might be be "Future Winners".

[jiesen]

OFG at 14? what a steal!

Earnest Partners just filed yesterday that they now own 10.1% of OFG. Not a bad time to pick up shares, I'm thinking.

http://www.sec.gov/Archives/edgar/data/1030469/000095014405006011/0000950144-05-006011-index.htm

[jiesen]

OFG just changed its trajectory

http://finance.yahoo.com/q/bc?s=OFG&t=5d&l=on&z=m&q=l&c=

I guess 13.6 was a buy signal for someone.

[mrmarket]

I'd be happier if they focused on making money...

Press Release Source: Oriental Financial Group


Oriental Financial Group Wins Stevie Award for Best TV Ad Campaign
Monday June 13, 12:20 pm ET


SAN JUAN, Puerto Rico--(BUSINESS WIRE)--June 13, 2005--Oriental Financial Group Inc. (NYSE: OFG - News) announced that it has won a 2005 American Business Awards "Stevie"(TM) for Best TV Ad Campaign for the Group's "Banking Solutions for Your Life" television spots.
The American Business Awards are the first all-encompassing business awards program honoring great performances in the workplace. Nicknamed the "Stevies" for the Greek word "crowned," the awards were presented during ceremonies at the Marriott Marquis Hotel in New York City.

Oriental's commercials were part of a TV, radio, Internet, print and collateral campaign broadening Oriental's brand image to encompass its complete array of banking and financial services for consumers, professionals and middle-market businesses in Puerto Rico. Heretofore, Oriental (which means Eastern in Spanish) has been primarily known for IRA investment products.

Edgardo Palerm, VP of Corporate Communications and Advertising at Oriental, in accepting the Stevie at last week's American Business Awards dinner, said, "We wanted to wake up everybody, and show them the sense of relief they can experience when they discover how Oriental can solve their problems and improve their lives through the banking solutions we provide."

The commercials feature scenes patterned after modern movie classics. In "Hole," which echoes the movie Holes (2003, starring Sigourney Weaver), a man lives in a hole in the front yard of his house - until Oriental helps finance an expansion to his home. In "Dreams," which features elements from Barton Fink (1991, starring John Turturro), an insomniac searches the Internet because he can't dream - until he discovers Orientalonline.com. In "Future," which recreates a scene from Brazil (1985, written and directed by Terry Gilliam), a professional worries about his bleak future - until Oriental helps him start his own business.

An article in American Banking Association's Bank Marketing magazine described the spots as "a distinctive series of brand TV commercials." EJE Sociedad Publicitaria, a Puerto Rico advertising agency, handled creative design, production and media buys.

More than 100 Stevies were presented in over 40 categories including Best Overall Company, Best Executive, Best Support Staffer, and Best Corporate Web Site. More than 1,200 nominations from companies of all sizes and in virtually every industry were submitted for consideration.

[New-born baby]

Ofg

MM,
WHile you are cleaning out your entire portfolio, could you tell us if there is any good news with OFG?

And while you are at it, how about BEL? Looking better every day, don't you think?