Popular, Inc. (NASDAQ:BPOP) released its quarterly earnings results on Tuesday. The bank reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.76), Briefing.com reports. The firm had revenue of $478.50 million for the quarter, compared to analyst estimates of $513.85 million. Popular had a return on equity of 7.11% and a net margin of 11.57%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the firm earned $0.44 EPS.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Thursday, September 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend was Wednesday, September 13th. Popular’s payout ratio is 45.05%.
An institutional investor recently raised its position in Popular stock. The Manufacturers Life Insurance Company increased its holdings in Popular, Inc. (NASDAQ:BPOP) by 7.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,980 shares of the bank’s stock after acquiring an additional 200 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Popular were worth $124,000 at the end of the most recent reporting period. 85.56% of the stock is currently owned by institutional investors and hedge funds.
TRADEMARK VIOLATION WARNING: “Popular, Inc. (BPOP) Posts Quarterly Earnings Results, Misses Estimates By $0.76 EPS” was first reported by Community Financial News and is the property of of Community Financial News. If you are viewing this report on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The correct version of this report can be accessed at https://www.com-unik.info/2017/11/01/popular-inc-bpop-posts-quarterly-earnings-results-misses-estimates-by-0-76-eps.html.
Several research analysts have recently issued reports on the company. Barclays PLC lifted their price target on Popular from $44.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday. Piper Jaffray Companies reaffirmed a “buy” rating and set a $50.50 price target on shares of Popular in a research note on Wednesday. BTIG Research raised Popular from a “neutral” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research downgraded Popular from a “buy” rating to a “sell” rating in a research note on Tuesday, October 3rd. Finally, ValuEngine raised Popular from a “hold” rating to a “buy” rating in a research note on Tuesday, October 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Popular currently has a consensus rating of “Hold” and a consensus target price of $46.75.
Popular Company Profile
Popular, Inc (Popular) is a financial holding company. The Company operates in two segments: Banco Popular de Puerto Rico (BPPR), which includes its Puerto Rico business, and Banco Popular North America (BPNA), which includes its the United States mainland business. The Company has operations in Puerto Rico, the United States and the Caribbean.
What are top analysts saying about Popular Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Popular Inc. and related companies.