Popular (NASDAQ:BPOP) Releases Earnings Results

Popular (NASDAQ:BPOP) issued its earnings results on Tuesday. The bank reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.47, Zacks reports. Popular had a net margin of 12.36% and a return on equity of 11.35%.

Popular Stock Down 1.3 %

Shares of BPOP stock opened at $102.46 on Wednesday. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 0.65 and a beta of 0.81. Popular has a 12 month low of $80.60 and a 12 month high of $106.46. The stock has a 50-day moving average price of $97.03 and a 200 day moving average price of $97.35.

Popular Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.73%. This is a positive change from Popular’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, December 6th. Popular’s dividend payout ratio (DPR) is presently 38.04%.

Insider Transactions at Popular

In other Popular news, VP Adorno Denissa Rodriguez sold 1,825 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total value of $178,320.75. Following the sale, the vice president now owns 3,332 shares in the company, valued at approximately $325,569.72. The trade was a 35.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Beatriz Castellvi sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $99.16, for a total value of $347,060.00. Following the completion of the sale, the executive vice president now owns 25,115 shares in the company, valued at $2,490,403.40. The trade was a 12.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada decreased their target price on shares of Popular from $108.00 to $96.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Barclays raised their price objective on shares of Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Piper Sandler reduced their price objective on shares of Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company raised their price objective on shares of Popular from $90.00 to $105.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods upped their price target on shares of Popular from $103.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $108.25.

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.