Popular (BPOP) Set to Announce Quarterly Earnings on Wednesday

Popular (NASDAQ:BPOPGet Rating) will issue its quarterly earnings data before the market opens on Wednesday, January 25th. Analysts expect the company to announce earnings of $2.75 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Popular (NASDAQ:BPOPGet Rating) last announced its quarterly earnings results on Wednesday, October 26th. The bank reported $5.70 EPS for the quarter, beating the consensus estimate of $2.53 by $3.17. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $709.10 million. Popular had a return on equity of 22.68% and a net margin of 32.87%. On average, analysts expect Popular to post $14 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Popular Stock Performance

Popular stock traded down $0.70 on Tuesday, reaching $68.34. The company’s stock had a trading volume of 501,142 shares, compared to its average volume of 412,169. The company has a market cap of $4.97 billion, a price-to-earnings ratio of 4.97 and a beta of 0.87. The business’s fifty day moving average price is $67.54 and its 200 day moving average price is $72.78. Popular has a twelve month low of $62.55 and a twelve month high of $95.28.

Popular Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Wednesday, December 7th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend was Tuesday, December 6th. Popular’s dividend payout ratio is currently 16.01%.

Institutional Investors Weigh In On Popular

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd increased its holdings in Popular by 68.9% in the first quarter. Covestor Ltd now owns 1,096 shares of the bank’s stock valued at $90,000 after purchasing an additional 447 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Popular by 51.9% in the first quarter. Lazard Asset Management LLC now owns 1,121 shares of the bank’s stock valued at $91,000 after purchasing an additional 383 shares during the last quarter. MetLife Investment Management LLC bought a new stake in Popular in the first quarter valued at about $129,000. Yousif Capital Management LLC increased its holdings in Popular by 5.9% in the first quarter. Yousif Capital Management LLC now owns 2,856 shares of the bank’s stock valued at $233,000 after purchasing an additional 160 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in Popular by 22.1% in the first quarter. Panagora Asset Management Inc. now owns 3,463 shares of the bank’s stock valued at $283,000 after purchasing an additional 627 shares during the last quarter. Institutional investors own 86.01% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on BPOP. Piper Sandler reduced their price objective on Popular to $90.00 in a research note on Tuesday, November 1st. Wells Fargo & Company dropped their target price on Popular from $80.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, December 15th. UBS Group dropped their target price on Popular to $100.00 in a research report on Wednesday, November 16th. Royal Bank of Canada dropped their target price on Popular from $91.00 to $80.00 in a research report on Thursday, October 27th. Finally, StockNews.com downgraded Popular from a “buy” rating to a “hold” rating in a research report on Tuesday, January 10th.

Popular Company Profile

(Get Rating)

Popular, Inc operates as a holding company. The firm engages in the provision of banking and financial services. It operates through the following segments: Banco Popular de Puerto Rico, Popular U.S., and Corporate Group. The Banco Popular de Puerto Rico segment includes commercial banking, consumer and retail banking, and other financial services.

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Earnings History for Popular (NASDAQ:BPOP)

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