Popular Inc (NASDAQ:BPOP) declared a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Shareholders of record on Tuesday, May 28th will be given a dividend of 0.30 per share by the bank on Monday, July 1st. This represents a $1.20 annualized dividend and a yield of 2.27%. The ex-dividend date is Friday, May 24th.
Popular has raised its dividend by an average of 88.2% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Popular has a dividend payout ratio of 25.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Popular to earn $7.10 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 16.9%.
NASDAQ BPOP traded down $0.45 during trading hours on Friday, hitting $52.80. The company had a trading volume of 375,903 shares, compared to its average volume of 557,093. Popular has a 1-year low of $44.22 and a 1-year high of $58.99. The company has a market capitalization of $5.17 billion, a PE ratio of 11.07 and a beta of 1.23.
Popular (NASDAQ:BPOP) last announced its earnings results on Thursday, April 18th. The bank reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.24. Popular had a net margin of 24.69% and a return on equity of 10.58%. The business had revenue of $607.39 million during the quarter, compared to the consensus estimate of $603.70 million. During the same quarter in the prior year, the firm earned $0.89 earnings per share. As a group, sell-side analysts anticipate that Popular will post 6.59 earnings per share for the current year.
Several equities research analysts have recently weighed in on BPOP shares. BidaskClub upgraded shares of Popular from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. BTIG Research raised their price objective on shares of Popular to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Finally, Zacks Investment Research cut shares of Popular from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $59.71.
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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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