Popular (BPOP) Scheduled to Post Quarterly Earnings on Wednesday

Popular (NASDAQ:BPOP – Get Rating) is scheduled to issue its quarterly earnings data before the market opens on Wednesday, January 25th. Analysts expect the company to announce earnings of $2.75 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Popular (NASDAQ:BPOP – Get Rating) last issued its quarterly earnings results on Wednesday, October 26th. The bank reported $5.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $3.17. Popular had a return on equity of 22.68% and a net margin of 32.87%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $709.10 million. On average, analysts expect Popular to post $14 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Popular Stock Performance

Shares of BPOP stock traded down $0.70 on Tuesday, reaching $68.34. 501,142 shares of the company’s stock traded hands, compared to its average volume of 412,169. Popular has a 12-month low of $62.55 and a 12-month high of $95.28. The company has a market capitalization of $4.97 billion, a P/E ratio of 4.97 and a beta of 0.87. The business’s 50 day moving average price is $67.54 and its two-hundred day moving average price is $72.78.

Popular Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Wednesday, December 7th were issued a dividend of $0.55 per share. The ex-dividend date was Tuesday, December 6th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.22%. Popular’s dividend payout ratio is 16.01%.

Institutional Trading of Popular

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Popular by 11.6% in the third quarter. Vanguard Group Inc. now owns 7,880,331 shares of the bank’s stock worth $567,856,000 after buying an additional 816,384 shares during the last quarter. State Street Corp lifted its position in shares of Popular by 11.8% during the 3rd quarter. State Street Corp now owns 2,478,197 shares of the bank’s stock worth $179,787,000 after purchasing an additional 262,172 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Popular by 394.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,108,132 shares of the bank’s stock worth $85,249,000 after purchasing an additional 883,818 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Popular by 5.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 585,797 shares of the bank’s stock worth $47,883,000 after purchasing an additional 28,481 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Popular by 29.6% during the 1st quarter. Royal Bank of Canada now owns 429,872 shares of the bank’s stock worth $35,138,000 after purchasing an additional 98,152 shares during the last quarter. Institutional investors and hedge funds own 86.01% of the company’s stock.

Wall Street Analyst Weigh In

BPOP has been the subject of a number of research reports. UBS Group reduced their price objective on Popular to $100.00 in a research report on Wednesday, November 16th. Royal Bank of Canada reduced their price objective on Popular from $91.00 to $80.00 in a research report on Thursday, October 27th. Piper Sandler reduced their price objective on Popular to $90.00 in a research report on Tuesday, November 1st. Wells Fargo & Company reduced their price objective on Popular from $80.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, December 15th. Finally, StockNews.com cut Popular from a “buy” rating to a “hold” rating in a research report on Tuesday, January 10th.

Popular Company Profile

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Popular, Inc operates as a holding company. The firm engages in the provision of banking and financial services. It operates through the following segments: Banco Popular de Puerto Rico, Popular U.S., and Corporate Group. The Banco Popular de Puerto Rico segment includes commercial banking, consumer and retail banking, and other financial services.