Popular, Inc. (BPOP) Expected to Post Earnings of $0.92 Per Share
Analysts predict that Popular, Inc. (NASDAQ:BPOP) will announce $0.92 earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have made estimates for Popular’s earnings. Popular posted earnings per share of $0.85 in the same quarter last year, which indicates a positive year over year growth rate of 8.2%. The company is expected to announce its next quarterly earnings report before the market opens on Wednesday, July 26th.
On average, analysts expect that Popular will report full year earnings of $3.74 per share for the current financial year, with EPS estimates ranging from $3.73 to $3.74. For the next financial year, analysts forecast that the firm will post earnings of $3.98 per share. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Popular.
Popular (NASDAQ:BPOP) last released its quarterly earnings data on Tuesday, April 25th. The bank reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.05. The business had revenue of $477.97 million for the quarter, compared to the consensus estimate of $441.33 million. Popular had a net margin of 11.34% and a return on equity of 6.94%. During the same period in the prior year, the firm earned $0.81 earnings per share.
BPOP has been the topic of several research reports. Keefe, Bruyette & Woods set a $46.00 target price on Popular and gave the stock a “hold” rating in a research report on Monday, April 3rd. BTIG Research reissued a “neutral” rating on shares of Popular in a research report on Saturday, April 22nd. TheStreet raised Popular from a “c+” rating to a “b” rating in a research report on Tuesday, April 25th. Morgan Stanley dropped their target price on Popular from $44.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 6th. Finally, BidaskClub raised Popular from a “strong sell” rating to a “sell” rating in a research report on Friday, June 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $46.14.
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Popular (NASDAQ BPOP) remained flat at $41.47 during midday trading on Tuesday. 377,621 shares of the stock were exchanged. The company has a market capitalization of $4.23 billion, a PE ratio of 19.38 and a beta of 1.28. Popular has a one year low of $28.96 and a one year high of $45.96. The company has a 50 day moving average price of $38.85 and a 200 day moving average price of $41.65.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Friday, June 9th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, June 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.41%. Popular’s payout ratio is currently 46.95%.
In other news, VP Jorge J. Garcia sold 4,000 shares of Popular stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $38.15, for a total transaction of $152,600.00. Following the transaction, the vice president now directly owns 11,502 shares of the company’s stock, valued at approximately $438,801.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider O. Rivera Nestor sold 11,312 shares of Popular stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $41.52, for a total value of $469,674.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,806 shares of company stock worth $932,921. Insiders own 1.27% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of BPOP. BlackRock Inc. increased its stake in shares of Popular by 13,970.4% in the first quarter. BlackRock Inc. now owns 4,465,650 shares of the bank’s stock valued at $181,886,000 after buying an additional 4,433,912 shares during the period. AQR Capital Management LLC increased its stake in shares of Popular by 37.9% in the first quarter. AQR Capital Management LLC now owns 3,334,844 shares of the bank’s stock valued at $135,829,000 after buying an additional 916,126 shares during the period. Norges Bank acquired a new stake in shares of Popular during the fourth quarter valued at about $39,980,000. Martingale Asset Management L P increased its stake in shares of Popular by 528.3% in the first quarter. Martingale Asset Management L P now owns 716,537 shares of the bank’s stock valued at $29,185,000 after buying an additional 602,487 shares during the period. Finally, Point72 Europe London LLP increased its stake in shares of Popular by 165.2% in the first quarter. Point72 Europe London LLP now owns 906,306 shares of the bank’s stock valued at $36,914,000 after buying an additional 564,544 shares during the period. 86.73% of the stock is currently owned by hedge funds and other institutional investors.
Popular Company Profile
Popular, Inc (Popular) is a financial holding company. The Company operates in two segments: Banco Popular de Puerto Rico (BPPR), which includes its Puerto Rico business, and Banco Popular North America (BPNA), which includes its the United States mainland business. The Company has operations in Puerto Rico, the United States and the Caribbean.
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