Popular, Inc. (BPOP) Posts Quarterly Earnings Results, Misses Estimates By $0.76 EPS
Popular, Inc. (NASDAQ:BPOP) posted its earnings results on Tuesday. The bank reported $0.19 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.76), Briefing.com reports. Popular had a net margin of 11.57% and a return on equity of 7.11%. The firm had revenue of $478.50 million during the quarter, compared to analyst estimates of $513.85 million. During the same period in the previous year, the company posted $0.44 EPS. Popular’s revenue for the quarter was up 11.3% compared to the same quarter last year.
Shares of Popular (NASDAQ:BPOP) traded down 6.137% during midday trading on Wednesday, hitting $34.429. The company had a trading volume of 1,407,912 shares. Popular has a 12-month low of $32.05 and a 12-month high of $45.96. The company’s 50-day moving average price is $36.03 and its 200 day moving average price is $39.12. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 15.551 and a beta of 1.25.
The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Thursday, September 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Wednesday, September 13th. Popular’s dividend payout ratio (DPR) is currently 45.05%.
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Several equities analysts have recently commented on BPOP shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $43.00 target price (up previously from $42.00) on shares of Popular in a research report on Friday, July 7th. Zacks Investment Research raised Popular from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Monday, July 10th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $53.00 target price on shares of Popular in a research report on Friday, July 28th. ValuEngine downgraded Popular from a “buy” rating to a “hold” rating in a research report on Wednesday, September 27th. Finally, Barclays PLC decreased their target price on Popular from $47.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $46.33.
A hedge fund recently raised its stake in Popular stock. The Manufacturers Life Insurance Company boosted its holdings in Popular, Inc. (NASDAQ:BPOP) by 7.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,980 shares of the bank’s stock after buying an additional 200 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Popular were worth $124,000 as of its most recent filing with the Securities and Exchange Commission. 85.56% of the stock is owned by institutional investors and hedge funds.
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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