Popular (BPOP) to Release Earnings on Tuesday

Popular (NASDAQ:BPOP) is scheduled to release its earnings data before the market opens on Tuesday, April 23rd. Analysts expect Popular to post earnings of $1.96 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $1.94 EPS for the quarter, topping the consensus estimate of $1.05 by $0.89. The business had revenue of $702.92 million during the quarter, compared to analysts’ expectations of $699.76 million. Popular had a net margin of 13.86% and a return on equity of 12.63%. 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

BPOP stock opened at $83.20 on Monday. The stock has a market cap of $6.01 billion, a P/E ratio of 11.05 and a beta of 0.82. The firm has a 50 day simple moving average of $84.34 and a 200 day simple moving average of $78.45. Popular has a 52 week low of $52.32 and a 52 week high of $89.70.

Popular Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Thursday, March 14th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.98%. The ex-dividend date was Wednesday, March 13th. Popular’s dividend payout ratio is currently 32.93%.

Analyst Ratings Changes

BPOP has been the subject of several research reports. StockNews.com upgraded shares of Popular from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Citigroup lifted their target price on shares of Popular from $103.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. UBS Group lifted their target price on shares of Popular from $84.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Keefe, Bruyette & Woods lifted their target price on shares of Popular from $95.00 to $103.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Finally, Royal Bank of Canada lifted their target price on shares of Popular from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.63.

Insider Transactions at Popular

In other news, EVP Luis E. Cestero sold 599 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $85.65, for a total value of $51,304.35. Following the completion of the sale, the executive vice president now directly owns 26,529 shares in the company, valued at $2,272,208.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Luis E. Cestero sold 4,641 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $84.42, for a total transaction of $391,793.22. Following the transaction, the executive vice president now owns 26,772 shares of the company’s stock, valued at $2,260,092.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Luis E. Cestero sold 599 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $85.65, for a total transaction of $51,304.35. Following the transaction, the executive vice president now directly owns 26,529 shares in the company, valued at approximately $2,272,208.85. The disclosure for this sale can be found here. 2.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Popular

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP grew its holdings in shares of Popular by 95.9% in the 4th quarter. Quarry LP now owns 337 shares of the bank’s stock worth $28,000 after purchasing an additional 165 shares during the last quarter. Covestor Ltd grew its holdings in shares of Popular by 68.9% in the 1st quarter. Covestor Ltd now owns 1,096 shares of the bank’s stock worth $90,000 after purchasing an additional 447 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Popular by 51.9% in the 1st quarter. Lazard Asset Management LLC now owns 1,121 shares of the bank’s stock worth $91,000 after purchasing an additional 383 shares during the last quarter. KBC Group NV bought a new stake in shares of Popular in the 4th quarter worth about $103,000. Finally, PNC Financial Services Group Inc. lifted its position in Popular by 65.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,021 shares of the bank’s stock worth $122,000 after buying an additional 802 shares in the last quarter. Institutional investors own 87.27% 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.