Popular (NASDAQ:BPOP) Posts Earnings Results

Popular (NASDAQ:BPOP) announced its quarterly earnings results on Wednesday. The bank reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.38, Briefing.com reports. Popular had a return on equity of 11.67% and a net margin of 11.95%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $751.57 million. During the same quarter in the previous year, the firm earned $2.10 earnings per share.

Popular Stock Performance

Shares of BPOP stock traded up $2.84 during trading hours on Thursday, hitting $102.21. The company had a trading volume of 575,655 shares, compared to its average volume of 395,159. Popular has a 12 month low of $59.27 and a 12 month high of $105.01. The firm has a market capitalization of $7.39 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 0.85 and a beta of 0.80. The firm’s fifty day moving average is $89.56 and its 200 day moving average is $86.57.

Popular Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Thursday, May 30th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $2.48 annualized dividend and a yield of 2.43%. Popular’s dividend payout ratio is 36.80%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Wells Fargo & Company boosted their price objective on Popular from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. Royal Bank of Canada boosted their price objective on Popular from $90.00 to $108.00 and gave the stock an “outperform” rating in a research report on Thursday. StockNews.com raised Popular from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Barclays boosted their price objective on Popular from $103.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Piper Sandler boosted their price objective on Popular from $96.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Popular has a consensus rating of “Moderate Buy” and a consensus price target of $105.22.

Insider Activity

In other news, EVP Manuel Chinea sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $90.70, for a total value of $1,088,400.00. Following the sale, the executive vice president now directly owns 27,086 shares in the company, valued at approximately $2,456,700.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Manuel Chinea sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $90.70, for a total value of $1,088,400.00. Following the sale, the executive vice president now directly owns 27,086 shares in the company, valued at approximately $2,456,700.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Gilberto Monzon sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $85.80, for a total value of $429,000.00. Following the completion of the sale, the executive vice president now owns 48,320 shares in the company, valued at $4,145,856. The disclosure for this sale can be found here. Corporate 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.