Popular (NASDAQ:BPOP) Posts Quarterly Earnings Results, Misses Expectations By $0.17 EPS

Popular (NASDAQ:BPOP) issued its quarterly earnings data on Wednesday. The bank reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.17), Briefing.com reports. The company had revenue of $736.56 million for the quarter, compared to analyst estimates of $766.62 million. Popular had a return on equity of 11.73% and a net margin of 12.20%. The company’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 earnings per share.

Popular Trading Down 1.0 %

Popular stock opened at $88.10 on Friday. The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.66 and a beta of 0.78. Popular has a 12 month low of $61.99 and a 12 month high of $105.01. The stock’s 50 day moving average is $98.54 and its 200-day moving average is $93.04.

Popular Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $0.62 per share. The ex-dividend date was Friday, September 13th. This represents a $2.48 annualized dividend and a yield of 2.81%. Popular’s dividend payout ratio (DPR) is presently 36.80%.

Insider Buying and Selling

In other Popular news, EVP Camille Burckhart sold 5,917 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total value of $577,499.20. Following the transaction, the executive vice president now directly owns 29,922 shares of the company’s stock, valued at $2,920,387.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on BPOP. Barclays reduced their price objective on Popular from $117.00 to $104.00 and set an “overweight” rating for the company in a research report on Thursday. Hovde Group increased their target price on shares of Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company lowered their price target on shares of Popular from $105.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Thursday. Keefe, Bruyette & Woods restated an “outperform” rating and set a $120.00 price objective (up from $110.00) on shares of Popular in a research note on Thursday, July 25th. Finally, Piper Sandler lowered their target price on Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.88.

About Popular

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and the British Virgin Islands. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.