Popular (BPOP) Expected to Announce Quarterly Earnings on Tuesday

Popular (NASDAQ:BPOP) will likely be releasing its earnings data before the market opens on Tuesday, January 28th. Analysts expect Popular to post 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 EPS for the quarter, missing the consensus estimate of $2.33 by ($0.17). Popular had a net margin of 12.36% and a return on equity of 11.35%. The firm had revenue of $736.56 million during the quarter, compared to the consensus estimate of $766.62 million. During the same quarter in the previous year, the firm posted $1.90 EPS. The company’s revenue was up 6.2% on a year-over-year basis. On average, analysts expect Popular to post $8 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Popular Stock Up 0.5 %

NASDAQ BPOP opened at $101.58 on Friday. The firm’s 50 day moving average is $96.72 and its 200-day moving average is $97.17. The company has a market capitalization of $7.24 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 0.65 and a beta of 0.81. Popular has a 12-month low of $80.60 and a 12-month high of $105.01.

Popular Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BPOP shares. Piper Sandler lowered their target price on shares of Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. UBS Group started coverage on shares of Popular in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $104.00 price objective for the company. Wells Fargo & Company raised their price target on shares of Popular from $90.00 to $105.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Royal Bank of Canada dropped their price objective on shares of Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Barclays upped their price target on Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $108.25.

Insider Transactions at Popular

In other news, VP Adorno Denissa Rodriguez sold 1,825 shares of Popular 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 completion of the transaction, the vice president now directly owns 3,332 shares in the company, valued at approximately $325,569.72. The trade was a 35.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Beatriz Castellvi sold 3,500 shares of the firm’s 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 sale, the executive vice president now directly owns 25,115 shares in the company, valued at approximately $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.

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.