Popular Inc (BPOP) to Post Q2 2019 Earnings of $1.64 Per Share, Piper Jaffray Companies Forecasts

Popular Inc (NASDAQ:BPOP) – Equities researchers at Piper Jaffray Companies increased their Q2 2019 earnings estimates for Popular in a research note issued to investors on Sunday, April 21st. Piper Jaffray Companies analyst B. Rabatin now expects that the bank will earn $1.64 per share for the quarter, up from their previous estimate of $1.54. Piper Jaffray Companies also issued estimates for Popular’s Q3 2019 earnings at $1.63 EPS, Q4 2019 earnings at $1.63 EPS, FY2019 earnings at $6.59 EPS, Q1 2020 earnings at $1.62 EPS, Q2 2020 earnings at $1.75 EPS, Q3 2020 earnings at $1.85 EPS, Q4 2020 earnings at $1.88 EPS and FY2020 earnings at $7.10 EPS.

Popular (NASDAQ:BPOP) last announced its earnings results on Thursday, April 18th. The bank reported $1.69 EPS for the quarter, topping the consensus estimate of $1.45 by $0.24. The firm had revenue of $607.39 million for the quarter, compared to the consensus estimate of $603.70 million. Popular had a net margin of 24.69% and a return on equity of 10.64%. During the same quarter last year, the firm posted $0.89 EPS.

Several other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Popular from a “hold” rating to a “sell” rating in a report on Monday, January 7th. Barclays reiterated a “buy” rating and issued a $59.00 target price on shares of Popular in a report on Friday, January 11th. BidaskClub upgraded shares of Popular from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. Finally, BTIG Research boosted their price objective on shares of Popular to $66.00 and gave the stock a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $58.63.

Shares of BPOP opened at $57.03 on Tuesday. The firm has a market capitalization of $5.41 billion, a P/E ratio of 11.96 and a beta of 1.17. Popular has a one year low of $44.22 and a one year high of $58.55.

Institutional investors have recently modified their holdings of the company. Nkcfo LLC acquired a new stake in shares of Popular during the 4th quarter valued at about $28,000. Captrust Financial Advisors acquired a new stake in shares of Popular during the 4th quarter valued at about $30,000. First Hawaiian Bank boosted its position in shares of Popular by 167.5% during the 4th quarter. First Hawaiian Bank now owns 1,030 shares of the bank’s stock valued at $49,000 after acquiring an additional 645 shares in the last quarter. AdvisorNet Financial Inc acquired a new stake in shares of Popular during the 4th quarter valued at about $52,000. Finally, Toronto Dominion Bank acquired a new stake in shares of Popular during the 4th quarter valued at about $71,000. Institutional investors and hedge funds own 90.38% of the company’s stock.

In other news, insider Gilberto Monzon sold 4,000 shares of the business’s stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $54.13, for a total transaction of $216,520.00. Following the transaction, the insider now owns 38,588 shares in the company, valued at approximately $2,088,768.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Eli Sepulveda sold 5,000 shares of the business’s stock in a transaction dated Wednesday, January 30th. The stock was sold at an average price of $55.60, for a total transaction of $278,000.00. Following the transaction, the executive vice president now owns 36,008 shares in the company, valued at approximately $2,002,044.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,046 shares of company stock worth $888,326. Insiders own 1.33% of the company’s stock.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were issued a dividend of $0.30 per share. This is an increase from Popular’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.20 annualized dividend and a dividend yield of 2.10%. Popular’s payout ratio is presently 25.16%.

About Popular

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services. The company accepts various deposit products. It also offers commercial and industrial loans; commercial real estate loans; residential mortgage loans; consumer loans, including personal loans, credit cards, automobile loans, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.

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Earnings History and Estimates for Popular (NASDAQ:BPOP)

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