Popular (NASDAQ:BPOP) Releases Quarterly Earnings Results

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

Popular Stock Up 2.2 %

NASDAQ BPOP opened at $103.77 on Tuesday. Popular has a fifty-two week low of $80.60 and a fifty-two week high of $105.01. The stock has a market cap of $7.40 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 0.65 and a beta of 0.81. The business has a fifty day moving average of $96.72 and a 200-day moving average of $97.21.

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 issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 6th. This is a boost from Popular’s previous quarterly dividend of $0.62. This represents a $2.80 annualized dividend and a yield of 2.70%. Popular’s payout ratio is currently 38.04%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Popular from $90.00 to $105.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Barclays lifted their price target on Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Piper Sandler decreased their price target on Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. UBS Group started coverage on Popular in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $104.00 price target on the stock. Finally, Royal Bank of Canada decreased their price target on Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.25.

Insider Transactions at Popular

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

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.