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

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

Popular Stock Down 0.8 %

Shares of Popular stock opened at $88.97 on Friday. Popular has a 12-month low of $59.27 and a 12-month high of $105.01. The business’s 50 day moving average is $98.54 and its 200-day moving average is $93.04. The stock has a market cap of $6.43 billion, a P/E ratio of 13.20, a P/E/G ratio of 0.66 and a beta of 0.78.

Popular Announces Dividend

The business also recently declared 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. This represents a $2.48 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Friday, September 13th. Popular’s dividend payout ratio (DPR) is 36.80%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

BPOP has been the subject of a number of recent analyst reports. Barclays decreased their price target on shares of Popular from $117.00 to $104.00 and set an “overweight” rating for the company in a report on Thursday. Piper Sandler dropped their price target on shares of Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday. Wells Fargo & Company decreased their price objective on Popular from $105.00 to $98.00 and set an “equal weight” rating on the stock in a report on Thursday. Hovde Group increased their target price on Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $120.00 price objective (up previously from $110.00) on shares of Popular in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.