Popular (NASDAQ:BPOP) Posts Quarterly Earnings Results

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

Popular Trading Down 0.7%

BPOP opened at $161.19 on Thursday. The stock has a market capitalization of $10.28 billion, a P/E ratio of 10.94, a PEG ratio of 0.60 and a beta of 0.63. The stock has a 50-day moving average price of $163.90 and a 200-day moving average price of $160.24. Popular has a 12-month low of $108.74 and a 12-month high of $179.24.

Popular Increases Dividend

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

Popular News Roundup

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

Insider Buying and Selling

In other news, Director Maria Ferre sold 3,385 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $175.42, for a total value of $593,796.70. Following the completion of the sale, the director directly owned 10,156 shares in the company, valued at approximately $1,781,565.52. The trade was a 25.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Javier D. Ferrer sold 35,000 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $175.43, for a total transaction of $6,140,050.00. Following the completion of the sale, the chief executive officer directly owned 96,478 shares of the company’s stock, valued at $16,925,135.54. This trade represents a 26.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 53,561 shares of company stock worth $9,392,259 over the last ninety days. Corporate insiders own 2.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on BPOP. Wells Fargo & Company cut their target price on Popular from $200.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, September 29th. Citigroup decreased their price target on Popular from $200.00 to $192.00 and set a “buy” rating on the stock in a research report on Tuesday, September 22nd. Keefe, Bruyette & Woods raised their price objective on shares of Popular from $190.00 to $207.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Truist Financial raised their price objective on shares of Popular from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, Barclays upped their target price on shares of Popular from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $187.42.

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.