Popular, Inc. Plans Quarterly Dividend of $0.55 (NASDAQ:BPOP)

Popular, Inc. (NASDAQ:BPOPGet Rating) declared a quarterly dividend on Thursday, May 12th, Zacks reports. Stockholders of record on Thursday, June 2nd will be paid a dividend of 0.55 per share by the bank on Friday, July 1st. This represents a $2.20 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Wednesday, June 1st.

Popular has increased its dividend payment by an average of 20.5% annually over the last three years and has raised its dividend every year for the last 4 years. Popular has a payout ratio of 20.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Popular to earn $10.79 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 20.4%.

BPOP stock opened at $77.92 on Friday. The company has a market capitalization of $5.96 billion, a PE ratio of 7.07 and a beta of 0.97. Popular has a 12-month low of $68.31 and a 12-month high of $99.49. The business’s fifty day moving average price is $81.20 and its 200 day moving average price is $84.28.

Popular (NASDAQ:BPOPGet Rating) last posted its quarterly earnings data on Tuesday, April 26th. The bank reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.39. Popular had a return on equity of 15.80% and a net margin of 31.84%. During the same period in the prior year, the firm posted $3.12 EPS. Sell-side analysts expect that Popular will post 10.36 EPS for the current fiscal year.

In other Popular news, Director C Kim Goodwin sold 8,154 shares of the company’s stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $80.05, for a total transaction of $652,727.70. Following the sale, the director now owns 39,275 shares in the company, valued at approximately $3,143,963.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.88% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Toroso Investments LLC lifted its holdings in shares of Popular by 3.5% in the 4th quarter. Toroso Investments LLC now owns 3,685 shares of the bank’s stock valued at $302,000 after buying an additional 126 shares during the period. Yousif Capital Management LLC lifted its holdings in shares of Popular by 5.9% in the 1st quarter. Yousif Capital Management LLC now owns 2,856 shares of the bank’s stock valued at $233,000 after buying an additional 160 shares during the period. MML Investors Services LLC lifted its holdings in shares of Popular by 6.8% in the 4th quarter. MML Investors Services LLC now owns 3,147 shares of the bank’s stock valued at $258,000 after buying an additional 201 shares during the period. Oliver Luxxe Assets LLC lifted its holdings in shares of Popular by 5.1% in the 4th quarter. Oliver Luxxe Assets LLC now owns 4,134 shares of the bank’s stock valued at $339,000 after buying an additional 201 shares during the period. Finally, HighTower Advisors LLC lifted its holdings in shares of Popular by 5.8% in the 1st quarter. HighTower Advisors LLC now owns 4,333 shares of the bank’s stock valued at $354,000 after buying an additional 239 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

BPOP has been the topic of several research analyst reports. StockNews.com downgraded Popular from a “buy” rating to a “hold” rating in a report on Friday, March 25th. Zacks Investment Research upgraded Popular from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a report on Thursday, March 31st. Finally, UBS Group upped their price target on Popular from $129.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, March 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $108.20.

About Popular (Get Rating)

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and 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.

Featured Stories

Dividend History for Popular (NASDAQ:BPOP)

Receive News & Ratings for Popular Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Popular and related companies with MarketBeat.com's FREE daily email newsletter.