Popular (NASDAQ:BPOP) Issues Quarterly Earnings Results

Popular (NASDAQ:BPOP) released its quarterly earnings data on Wednesday. The bank reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.17), Briefing.com reports. The company had revenue of $736.56 million for the quarter, compared to the consensus estimate of $766.62 million. Popular had a return on equity of 11.73% and a net margin of 12.20%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $1.90 earnings per share.

Popular Stock Down 0.8 %

Shares of Popular stock opened at $88.97 on Friday. Popular has a 12-month low of $59.27 and a 12-month high of $105.01. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.66 and a beta of 0.78. The firm’s 50-day moving average price is $98.54 and its two-hundred day moving average price is $93.04.

Popular Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $0.62 dividend. 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%.

Insider Activity

In other news, EVP Camille Burckhart sold 5,917 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total transaction of $577,499.20. Following the completion of the sale, the executive vice president now owns 29,922 shares of the company’s stock, valued at approximately $2,920,387.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.09% of the company’s stock.

Analyst Upgrades and Downgrades

BPOP has been the subject of several research analyst reports. Barclays reduced their target price on shares of Popular from $117.00 to $104.00 and set an “overweight” rating for the company in a report on Thursday. Piper Sandler reduced their price objective on Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $120.00 target price (up previously from $110.00) on shares of Popular in a research note on Thursday, July 25th. Royal Bank of Canada reduced their price target on Popular from $108.00 to $96.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Wells Fargo & Company decreased their price objective on Popular from $105.00 to $98.00 and set an “equal weight” rating on the stock in a report on Thursday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Popular presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.88.

About Popular

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.