Popular (NASDAQ:BPOP) Releases Quarterly Earnings Results, Beats Expectations By $0.63 EPS

Popular (NASDAQ:BPOP) posted its earnings results on Thursday. The bank reported $2.66 EPS for the quarter, beating the consensus estimate of $2.03 by $0.63, MarketWatch Earnings reports. Popular had a return on equity of 12.47% and a net margin of 28.17%. During the same period in the prior year, the firm earned $1.49 earnings per share.

NASDAQ BPOP traded down $0.19 on Thursday, reaching $72.51. 15,234 shares of the company’s stock traded hands, compared to its average volume of 512,012. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of 8.32 and a beta of 1.20. The business has a 50 day moving average of $77.33. Popular has a fifty-two week low of $34.30 and a fifty-two week high of $83.72.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 1st. Stockholders of record on Wednesday, May 26th were issued a dividend of $0.45 per share. The ex-dividend date was Tuesday, May 25th. This is a positive change from Popular’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.48%. Popular’s payout ratio is 30.66%.

BPOP has been the subject of several recent analyst reports. Zacks Investment Research raised Popular from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research note on Friday, April 2nd. Royal Bank of Canada raised their target price on Popular from $70.00 to $83.00 and gave the company an “outperform” rating in a report on Thursday, April 29th. Citigroup raised their target price on Popular from $69.00 to $83.00 in a report on Wednesday, April 14th. Finally, lifted their price target on Popular from $69.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, April 14th. Six analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average price target of $78.17.

In other Popular news, EVP Eduardo J. Negron sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 4th. The shares were sold at an average price of $74.92, for a total value of $749,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Camille Burckhart sold 7,000 shares of the company’s stock in a transaction dated Thursday, May 6th. The stock was sold at an average price of $77.45, for a total transaction of $542,150.00. The disclosure for this sale can be found here. Insiders have sold 17,033 shares of company stock valued at $1,293,863 over the last 90 days. 1.69% of the stock is currently owned by insiders.

About Popular

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 and Popular U.S. The Banco Popular de Puerto Rico segment includes retail, mortgage and commercial banking services.

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Earnings History for Popular (NASDAQ:BPOP)

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