Popular, Inc. (NASDAQ:BPOP) Announces Earnings Results
Popular, Inc. (NASDAQ:BPOP) posted its quarterly earnings results on Wednesday. The bank reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.02, Briefing.com reports. Popular had a net margin of 11.34% and a return on equity of 6.94%. During the same period in the previous year, the business earned $0.85 earnings per share.
Shares of Popular (BPOP) traded down 1.11% on Wednesday, hitting $41.84. 487,027 shares of the stock were exchanged. Popular has a 12 month low of $30.44 and a 12 month high of $45.96. The company has a 50-day moving average price of $40.32 and a 200 day moving average price of $41.35. The company has a market cap of $4.27 billion, a PE ratio of 19.55 and a beta of 1.28.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Friday, June 9th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Wednesday, June 7th. Popular’s dividend payout ratio is currently 46.95%.
In related news, Director Alejandro M. Ballester sold 3,000 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $42.15, for a total value of $126,450.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eduardo J. Negron sold 2,500 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $39.98, for a total transaction of $99,950.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,806 shares of company stock valued at $932,921. 1.27% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. O Shaughnessy Asset Management LLC raised its position in shares of Popular by 17.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 7,251 shares of the bank’s stock valued at $295,000 after buying an additional 1,070 shares during the last quarter. First Mercantile Trust Co. increased its stake in shares of Popular by 16.9% in the first quarter. First Mercantile Trust Co. now owns 10,649 shares of the bank’s stock valued at $434,000 after buying an additional 1,539 shares during the period. Heartland Advisors Inc. increased its stake in shares of Popular by 4.9% in the first quarter. Heartland Advisors Inc. now owns 11,621 shares of the bank’s stock valued at $473,000 after buying an additional 539 shares during the period. SG Americas Securities LLC increased its stake in shares of Popular by 19.1% in the first quarter. SG Americas Securities LLC now owns 12,485 shares of the bank’s stock valued at $509,000 after buying an additional 2,005 shares during the period. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in shares of Popular during the first quarter valued at approximately $511,000. Institutional investors own 86.65% of the company’s stock.
A number of equities research analysts have commented on BPOP shares. BTIG Research restated a “neutral” rating on shares of Popular in a report on Saturday, April 22nd. Keefe, Bruyette & Woods set a $46.00 price target on shares of Popular and gave the stock a “hold” rating in a report on Monday, April 3rd. TheStreet upgraded shares of Popular from a “c+” rating to a “b” rating in a report on Tuesday, April 25th. Morgan Stanley reduced their price target on shares of Popular from $44.00 to $42.00 and set an “equal weight” rating for the company in a report on Tuesday, June 6th. Finally, BidaskClub upgraded shares of Popular from a “strong sell” rating to a “sell” rating in a report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $47.00.
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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