Popular (NASDAQ:BPOP) Announces Quarterly Earnings Results

Popular (NASDAQ:BPOP) posted its quarterly earnings data on Wednesday. The bank reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.38 by ($0.22), Briefing.com reports. Popular had a return on equity of 11.73% and a net margin of 12.20%. The firm had revenue of $736.56 million for the quarter, compared to analyst estimates of $766.62 million. During the same period in the prior year, the company posted $1.90 EPS. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year.

Popular Price Performance

BPOP stock traded down $0.76 during trading hours on Thursday, reaching $88.97. 877,874 shares of the stock were exchanged, compared to its average volume of 412,714. The firm’s 50-day moving average is $98.54 and its 200-day moving average is $93.04. The company has a market cap of $6.43 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.66 and a beta of 0.78. Popular has a 12 month low of $59.27 and a 12 month high of $105.01.

Popular Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Friday, September 13th. Popular’s dividend payout ratio (DPR) is presently 36.80%.

Insiders Place Their Bets

In other news, EVP Camille Burckhart sold 5,917 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total value of $577,499.20. Following the completion of the transaction, the executive vice president now owns 29,922 shares in the company, valued at $2,920,387.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.09% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Royal Bank of Canada reduced their price objective on Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a report on Thursday. Piper Sandler cut their price target on Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $120.00 price target (up previously from $110.00) on shares of Popular in a research note on Thursday, July 25th. Barclays lowered their price objective on shares of Popular from $117.00 to $104.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Hovde Group upped their price objective on shares of Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.88.

Popular Company Profile

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and the British Virgin Islands. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.