Popular (BPOP) Scheduled to Post Quarterly Earnings on Tuesday

Popular (NASDAQ:BPOP) is scheduled to announce its earnings results before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $1.96 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.89. The business had revenue of $702.92 million during the quarter, compared to analysts’ expectations of $699.76 million. Popular had a return on equity of 12.63% and a net margin of 13.86%. On average, analysts expect Popular to post $9 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Popular Trading Down 0.5 %

Shares of NASDAQ:BPOP opened at $82.36 on Tuesday. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 10.94 and a beta of 0.82. The stock has a fifty day simple moving average of $84.51 and a two-hundred day simple moving average of $77.89. Popular has a 12-month low of $52.32 and a 12-month high of $89.70.

Popular Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Thursday, March 14th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date was Wednesday, March 13th. Popular’s payout ratio is 32.93%.

Analyst Upgrades and Downgrades

A number of analysts have commented on BPOP shares. Citigroup lifted their target price on Popular from $103.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Keefe, Bruyette & Woods lifted their target price on Popular from $95.00 to $103.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Piper Sandler lifted their target price on Popular from $96.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Barclays began coverage on Popular in a report on Friday, March 8th. They issued an “overweight” rating and a $99.00 target price for the company. Finally, Royal Bank of Canada lifted their price objective on Popular from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Popular has an average rating of “Moderate Buy” and an average target price of $91.63.

Insider Buying and Selling at Popular

In other Popular news, EVP Luis E. Cestero sold 4,641 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $84.42, for a total transaction of $391,793.22. Following the completion of the sale, the executive vice president now owns 26,772 shares of the company’s stock, valued at $2,260,092.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Popular news, EVP Luis E. Cestero sold 599 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $85.65, for a total transaction of $51,304.35. Following the sale, the executive vice president now directly owns 26,529 shares in the company, valued at $2,272,208.85. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Luis E. Cestero sold 4,641 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $84.42, for a total value of $391,793.22. Following the sale, the executive vice president now owns 26,772 shares in the company, valued at $2,260,092.24. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Popular

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its position in Popular by 182.7% during the first quarter. Renaissance Technologies LLC now owns 165,425 shares of the bank’s stock valued at $13,522,000 after purchasing an additional 106,900 shares during the period. Verition Fund Management LLC grew its stake in shares of Popular by 38.4% during the first quarter. Verition Fund Management LLC now owns 269,675 shares of the bank’s stock valued at $22,043,000 after buying an additional 74,767 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of Popular by 51.9% during the first quarter. Lazard Asset Management LLC now owns 1,121 shares of the bank’s stock valued at $91,000 after buying an additional 383 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Popular during the first quarter valued at approximately $2,215,000. Finally, EJF Capital LLC grew its stake in shares of Popular by 15.5% during the first quarter. EJF Capital LLC now owns 129,822 shares of the bank’s stock valued at $10,612,000 after buying an additional 17,433 shares during the last quarter. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

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.