Popular (NASDAQ:BPOP) Releases Earnings Results, Beats Expectations By $0.26 EPS

Popular (NASDAQ:BPOP) posted its quarterly earnings data on Thursday. The bank reported $4.21 earnings per share for the quarter, beating analysts’ consensus estimates of $3.95 by $0.26, Zacks reports. Popular had a net margin of 21.37% and a return on equity of 15.34%. During the same period last year, the firm earned $3.14 earnings per share.

Popular Stock Down 0.4%

Shares of BPOP stock traded down $0.62 during mid-day trading on Thursday, reaching $161.63. The company’s stock had a trading volume of 150,727 shares, compared to its average volume of 521,383. The company’s 50 day simple moving average is $163.90 and its 200-day simple moving average is $160.24. Popular has a 12-month low of $108.74 and a 12-month high of $179.24. The firm has a market capitalization of $10.31 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 0.60 and a beta of 0.63.

Popular Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from Popular’s previous quarterly dividend of $0.75. Popular’s payout ratio is 24.32%.

Insider Buying and Selling at Popular

In related news, EVP Luis E. Cestero sold 8,500 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $176.36, for a total value of $1,499,060.00. Following the completion of the sale, the executive vice president directly owned 16,013 shares in the company, valued at approximately $2,824,052.68. This represents a 34.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lidio Soriano sold 3,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $174.50, for a total value of $523,500.00. Following the completion of the sale, the executive vice president owned 107,320 shares of the company’s stock, valued at approximately $18,727,340. This represents a 2.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 53,561 shares of company stock worth $9,392,259. Corporate insiders own 2.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Piper Sandler reissued an “overweight” rating and set a $198.00 price target (up from $190.00) on shares of Popular in a research report on Friday, July 24th. Truist Financial upped their price target on Popular from $192.00 to $197.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Barclays raised their price objective on Popular from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, October 5th. Weiss Ratings restated a “buy (a-)” rating on shares of Popular in a report on Friday, July 31st. Finally, Royal Bank Of Canada lifted their price objective on Popular from $163.00 to $181.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Popular currently has an average rating of “Buy” and a consensus target price of $187.42.

More Popular News

Here are the key news stories impacting Popular this week:

• Positive Sentiment: Popular earned $4.21 per share, exceeding consensus estimates of approximately $3.90–$3.97 and rising from $3.14 in the year-earlier quarter. The bank also reported a 21.37% net margin and 15.34% return on equity, signaling solid profitability. Popular Surpasses Q3 Earnings and Revenue Estimates
• Positive Sentiment: The company highlighted solid quarterly results and increased shareholder returns, which could support the stock by improving the outlook for dividends or other capital distributions. Popular Reports Solid Q3 Results and Boosts Shareholder Returns
• Neutral Sentiment: Popular reported charge-offs for the quarter ended September 30. The release provides an important credit-quality update, but investors will need to assess the charge-off level and trend against provisions and loan growth. Popular Reports Third-Quarter Charge-Offs
• Negative Sentiment: Quarterly revenue was approximately $816 million, missing the consensus estimate by about $55.1 million. The top-line miss could weigh on the shares despite the substantial EPS beat. Popular GAAP EPS Beats While Revenue Misses

Popular Company Profile

Popular, Inc (NASDAQ: BPOP) is a financial services company headquartered in San Juan, Puerto Rico. Its principal subsidiary, Banco Popular de Puerto Rico, provides banking services to individuals, businesses and institutions, including deposit accounts, consumer and commercial loans, residential mortgages, credit cards and electronic banking services.

The company also offers investment, brokerage, insurance and wealth management services through specialized subsidiaries and affiliated businesses.