Popular (BPOP) Set to Announce Earnings on Wednesday

Popular (NASDAQ:BPOP) will be announcing its earnings results before the market opens on Wednesday, October 23rd. Analysts expect the company to announce earnings of $2.38 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Wednesday, July 24th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.38. Popular had a return on equity of 11.73% and a net margin of 12.20%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $751.57 million. During the same quarter in the previous year, the firm earned $2.10 EPS. On average, analysts expect Popular to post $9 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Popular Stock Performance

Shares of BPOP stock opened at $100.82 on Monday. The company has a market capitalization of $7.29 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 0.66 and a beta of 0.78. Popular has a one year low of $59.27 and a one year high of $105.01. The company’s 50-day moving average is $98.69 and its 200 day moving average is $92.90.

Popular Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Friday, September 13th. Popular’s payout ratio is 36.80%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Royal Bank of Canada upped their price objective on Popular from $90.00 to $108.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Barclays increased their price objective on Popular from $115.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Wells Fargo & Company lowered Popular from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $115.00 to $105.00 in a research report on Tuesday, October 1st. Hovde Group raised their price target on shares of Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Piper Sandler started coverage on shares of Popular in a report on Monday, August 26th. They set an “overweight” rating and a $112.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $110.38.

Insider Buying and Selling at Popular

In other news, EVP Camille Burckhart sold 5,917 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total value of $577,499.20. Following the transaction, the executive vice president now owns 29,922 shares in the company, valued at $2,920,387.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.