Analysts Anticipate Popular, Inc. (BPOP) to Post $0.84 EPS
Wall Street analysts expect that Popular, Inc. (NASDAQ:BPOP) will report earnings per share of $0.84 for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Popular’s earnings. The highest EPS estimate is $0.99 and the lowest is $0.68. Popular posted earnings of $0.91 per share in the same quarter last year, which suggests a negative year over year growth rate of 7.7%. The business is expected to issue its next earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that Popular will report full-year earnings of $3.60 per share for the current financial year, with EPS estimates ranging from $3.36 to $3.84. For the next financial year, analysts forecast that the business will post earnings of $4.06 per share, with EPS estimates ranging from $4.01 to $4.10. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Popular.
Popular (NASDAQ:BPOP) last released its earnings results on Wednesday, July 26th. The bank reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.02. The firm had revenue of $491.27 million during the quarter, compared to analyst estimates of $500.66 million. Popular had a net margin of 11.57% and a return on equity of 7.11%. During the same quarter in the previous year, the business earned $0.85 EPS.
A number of brokerages have commented on BPOP. Piper Jaffray Companies reiterated a “buy” rating and issued a $53.00 price target on shares of Popular in a research note on Friday, July 28th. Zacks Investment Research cut shares of Popular from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. Morgan Stanley reiterated an “equal weight” rating and issued a $43.00 price target (up previously from $42.00) on shares of Popular in a research note on Friday, July 7th. BidaskClub upgraded shares of Popular from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $51.00 price target on shares of Popular in a research note on Thursday, June 29th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. Popular has an average rating of “Hold” and an average target price of $46.33.
Popular (NASDAQ:BPOP) opened at 32.65 on Monday. Popular has a 52-week low of $32.37 and a 52-week high of $45.96. The firm’s 50-day moving average is $37.78 and its 200-day moving average is $39.66. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 14.75 and a beta of 1.25.
The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Thursday, September 14th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend was Wednesday, September 13th. Popular’s dividend payout ratio is presently 45.05%.
A number of institutional investors have recently modified their holdings of BPOP. The Manufacturers Life Insurance Company raised its stake in Popular by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,980 shares of the bank’s stock worth $124,000 after purchasing an additional 200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Popular by 12.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,887 shares of the bank’s stock worth $162,000 after purchasing an additional 423 shares in the last quarter. ETRADE Capital Management LLC acquired a new stake in Popular in the 2nd quarter worth about $204,000. Cornerstone Capital Management Holdings LLC. raised its stake in Popular by 229.4% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 5,600 shares of the bank’s stock worth $233,000 after purchasing an additional 3,900 shares in the last quarter. Finally, M&T Bank Corp raised its stake in Popular by 2.8% in the 2nd quarter. M&T Bank Corp now owns 5,777 shares of the bank’s stock worth $241,000 after purchasing an additional 159 shares in the last quarter. Institutional investors and hedge funds own 85.84% of the company’s stock.
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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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