Popular, Inc. (NASDAQ:BPOP) Declares Quarterly Dividend of $0.90

by · The Markets Daily

Popular, Inc. (NASDAQ:BPOP – Get Free Report) declared a quarterly dividend on Friday, October 23rd. Investors of record on Friday, November 13th will be paid a dividend of $0.90 per share by the bank on Monday, January 4th. This represents a $3.60 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, November 13th.

Popular has raised its dividend by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 6 years. Popular has a payout ratio of 29.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Popular to earn $17.35 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 20.7%.

Popular Price Performance

NASDAQ BPOP opened at $159.17 on Wednesday. Popular has a 1-year low of $109.01 and a 1-year high of $179.24. The business has a 50 day simple moving average of $160.13 and a two-hundred day simple moving average of $154.24. The stock has a market capitalization of $10.15 billion, a PE ratio of 10.04, a P/E/G ratio of 0.48 and a beta of 0.63.

Popular (NASDAQ:BPOP – Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The bank reported $4.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.95 by $0.26. The business had revenue of $874.59 million for the quarter, compared to analysts’ expectations of $904.43 million. Popular had a return on equity of 16.08% and a net margin of 22.36%. During the same period in the prior year, the firm earned $3.14 EPS. On average, analysts anticipate that Popular will post 16.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BPOP shares. Zacks Research cut shares of Popular from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 8th. Barclays increased their price objective on shares of Popular from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, October 5th. Truist Financial lifted their price objective on shares of Popular from $192.00 to $197.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Keefe, Bruyette & Woods boosted their target price on shares of Popular from $190.00 to $207.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Finally, Royal Bank Of Canada boosted their target price on shares of Popular from $163.00 to $181.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $186.42.

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About Popular

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Popular, Inc. is a financial holding company headquartered in San Juan, Puerto Rico. Founded in 1893, it provides banking and other financial services primarily in Puerto Rico and the U.S. mainland. Its principal subsidiary, Banco Popular de Puerto Rico, serves individuals and businesses with consumer and commercial banking, mortgage lending, and related financial services. Popular also operates Popular Bank in the mainland United States and provides auto financing through Popular Auto. Ignacio Alvarez is Popular’s president and chief executive officer.

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