Popular (BPOP) to Release Quarterly Earnings on Tuesday

Popular (NASDAQ:BPOP) is anticipated to issue its quarterly earnings data before the market opens on Tuesday, January 28th. Analysts expect the company to announce earnings of $2.04 per share and revenue of $748,638.98 billion for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Popular (NASDAQ:BPOP) last released its earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.33 by ($0.17). The firm had revenue of $736.56 million during the quarter, compared to analysts’ expectations of $766.62 million. Popular had a return on equity of 11.35% and a net margin of 12.36%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.90 earnings per share. On average, analysts expect Popular to post $8 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Popular Price Performance

Popular stock opened at $101.58 on Friday. The stock has a market cap of $7.24 billion, a P/E ratio of 13.80, a PEG ratio of 0.65 and a beta of 0.81. Popular has a 1 year low of $80.60 and a 1 year high of $105.01. The firm’s 50 day moving average price is $96.72 and its 200-day moving average price is $97.17.

Popular Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend was Friday, December 6th. This is an increase from Popular’s previous quarterly dividend of $0.62. Popular’s dividend payout ratio is 38.04%.

Insider Buying and Selling at Popular

In other news, VP Adorno Denissa Rodriguez sold 1,825 shares of the 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 sale, the vice president now directly owns 3,332 shares in the company, valued at approximately $325,569.72. This trade represents a 35.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Beatriz Castellvi sold 3,500 shares of Popular stock in a transaction dated 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 transaction, the executive vice president now owns 25,115 shares of the company’s stock, 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. Company insiders own 2.09% of the company’s stock.

Analyst Ratings Changes

BPOP has been the subject of a number of recent research reports. Piper Sandler reduced their target price on shares of Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Keefe, Bruyette & Woods raised their price target on Popular from $103.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Barclays upped their price objective on shares of Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Wells Fargo & Company lifted their target price on shares of Popular from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada cut their price target on shares of Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Popular presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.25.

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.