Popular (BPOP) Expected to Announce Quarterly Earnings on Wednesday

Popular (NASDAQ:BPOP) is expected to be issuing its quarterly earnings data before the market opens on Wednesday, April 23rd. Analysts expect Popular to post earnings of $2.27 per share and revenue of $760.45 million for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Tuesday, January 28th. The bank reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.47. Popular had a net margin of 14.15% and a return on equity of 11.89%. On average, analysts expect Popular to post $10 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Popular Stock Up 1.4 %

Shares of BPOP stock opened at $84.45 on Wednesday. The company has a market cap of $5.86 billion, a P/E ratio of 9.87, a PEG ratio of 0.75 and a beta of 0.62. The business has a 50 day moving average of $93.33 and a two-hundred day moving average of $95.63. Popular has a 52 week low of $78.23 and a 52 week high of $106.81.

Popular Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $2.80 dividend on an annualized basis and a yield of 3.32%. Popular’s dividend payout ratio is currently 32.71%.

Insiders Place Their Bets

In other news, EVP Gilberto Monzon sold 9,600 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $102.57, for a total value of $984,672.00. Following the sale, the executive vice president now owns 39,170 shares of the company’s stock, valued at approximately $4,017,666.90. The trade was a 19.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Eduardo J. Negron sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $104.02, for a total value of $1,040,200.00. Following the transaction, the executive vice president now directly owns 32,866 shares of the company’s stock, valued at $3,418,721.32. This represents a 23.33 % decrease in their position. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wells Fargo & Company upgraded Popular from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $110.00 to $100.00 in a research note on Wednesday, April 9th. Barclays lifted their price objective on shares of Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. StockNews.com upgraded shares of Popular from a “hold” rating to a “buy” rating in a research report on Saturday. UBS Group began coverage on Popular in a report on Tuesday, December 17th. They set a “neutral” rating and a $104.00 price target on the stock. Finally, Royal Bank of Canada increased their price objective on Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $111.57.

Popular Company Profile

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.