Popular (NASDAQ:BPOP) Issues Quarterly Earnings Results

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

Popular Stock Down 0.6 %

NASDAQ BPOP opened at $88.46 on Friday. Popular has a 52 week low of $61.99 and a 52 week high of $105.01. The firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 0.66 and a beta of 0.78. The company has a fifty day moving average of $98.34 and a two-hundred day moving average of $93.06.

Popular Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Friday, September 13th. Popular’s dividend payout ratio is currently 36.80%.

Analyst Ratings Changes

A number of research firms recently weighed in on BPOP. Wells Fargo & Company reduced their price objective on Popular from $105.00 to $98.00 and set an “equal weight” rating for the company in a research report on Thursday. Hovde Group lifted their price target on Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Barclays cut their price objective on shares of Popular from $117.00 to $104.00 and set an “overweight” rating on the stock in a research report on Thursday. Royal Bank of Canada dropped their target price on shares of Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $120.00 price objective (up from $110.00) on shares of Popular in a report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $104.88.

Insider Buying and Selling

In related news, EVP Camille Burckhart sold 5,917 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total value of $577,499.20. Following the sale, the executive vice president now directly owns 29,922 shares of the company’s stock, valued at $2,920,387.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.09% of the stock is owned by corporate insiders.

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.