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

Popular (NASDAQ:BPOP) posted its quarterly earnings results on Wednesday. The bank reported $2.16 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $736.56 million during the quarter, compared to the consensus estimate of $766.62 million. During the same period last year, the firm posted $1.90 EPS. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year.

Popular Trading Down 0.6 %

Shares of BPOP traded down $0.51 during mid-day trading on Friday, reaching $88.46. 631,160 shares of the stock traded hands, compared to its average volume of 413,769. Popular has a 1 year low of $61.99 and a 1 year high of $105.01. The company has a market cap of $6.39 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 0.66 and a beta of 0.78. The firm has a fifty day moving average price of $98.34 and a 200 day moving average price of $93.06.

Popular Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.80%. The ex-dividend date was Friday, September 13th. Popular’s payout ratio is 36.80%.

Insider Activity at Popular

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

Analysts Set New Price Targets

A number of analysts have issued reports on BPOP shares. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $120.00 target price (up from $110.00) on shares of Popular in a research note on Thursday, July 25th. Wells Fargo & Company decreased their price objective on Popular from $105.00 to $98.00 and set an “equal weight” rating for the company in a report on Thursday. Hovde Group upped their price objective on shares of Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Barclays reduced their target price on shares of Popular from $117.00 to $104.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Royal Bank of Canada dropped their price target on shares of Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $104.88.

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.