Popular (BPOP) Scheduled to Post Quarterly Earnings on Tuesday

Popular (NASDAQ:BPOP) is set to announce its earnings results before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $1.96 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Popular (NASDAQ:BPOP) last posted its earnings results on Thursday, January 25th. The bank reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.89. The company had revenue of $702.92 million during the quarter, compared to analyst estimates of $699.76 million. Popular had a return on equity of 12.63% and a net margin of 13.86%. On average, analysts expect Popular to post $9 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Popular Trading Down 0.5 %

Popular stock opened at $82.36 on Tuesday. The firm has a market capitalization of $5.95 billion, a P/E ratio of 10.94 and a beta of 0.82. Popular has a 1 year low of $52.32 and a 1 year high of $89.70. The business has a 50-day moving average of $84.51 and a 200-day moving average of $77.89.

Popular Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Thursday, March 14th were given a dividend of $0.62 per share. The ex-dividend date was Wednesday, March 13th. This represents a $2.48 annualized dividend and a dividend yield of 3.01%. Popular’s payout ratio is currently 32.93%.

Insiders Place Their Bets

In other Popular news, EVP Luis E. Cestero sold 4,641 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $84.42, for a total transaction of $391,793.22. Following the completion of the transaction, the executive vice president now owns 26,772 shares of the company’s stock, valued at approximately $2,260,092.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Luis E. Cestero sold 4,641 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $84.42, for a total transaction of $391,793.22. Following the sale, the executive vice president now owns 26,772 shares in the company, valued at approximately $2,260,092.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Luis E. Cestero sold 599 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $85.65, for a total value of $51,304.35. Following the sale, the executive vice president now owns 26,529 shares in the company, valued at approximately $2,272,208.85. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Institutional Investors Weigh In On Popular

Institutional investors and hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP lifted its holdings in Popular by 474.1% during the 1st quarter. First Trust Advisors LP now owns 3,531,550 shares of the bank’s stock valued at $202,746,000 after purchasing an additional 2,916,412 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Popular by 394.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,108,132 shares of the bank’s stock valued at $85,249,000 after purchasing an additional 883,818 shares during the last quarter. Millennium Management LLC lifted its holdings in Popular by 135.4% during the 4th quarter. Millennium Management LLC now owns 1,471,368 shares of the bank’s stock valued at $97,581,000 after purchasing an additional 846,247 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Popular by 11.6% during the 3rd quarter. Vanguard Group Inc. now owns 7,880,331 shares of the bank’s stock valued at $567,856,000 after purchasing an additional 816,384 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Popular by 21.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,382,121 shares of the bank’s stock worth $251,579,000 after buying an additional 786,453 shares in the last quarter. Institutional investors own 87.27% of the company’s stock.

Analyst Ratings Changes

BPOP has been the subject of several analyst reports. Piper Sandler boosted their target price on Popular from $96.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods boosted their price objective on Popular from $95.00 to $103.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Royal Bank of Canada boosted their price objective on Popular from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Barclays began coverage on Popular in a research report on Friday, March 8th. They issued an “overweight” rating and a $99.00 price objective for the company. Finally, UBS Group boosted their price objective on Popular from $84.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Popular has an average rating of “Moderate Buy” and a consensus target price of $91.63.

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.