Popular Inc (BPOP) to Issue Quarterly Dividend of $0.30

Popular Inc (NASDAQ:BPOP) announced a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Stockholders of record on Tuesday, May 28th will be paid a dividend of 0.30 per share by the bank on Monday, July 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Friday, May 24th.

Popular has raised its dividend by an average of 88.2% annually over the last three years and has increased its dividend every year for the last 3 years. Popular has a payout ratio of 25.5% indicating that its dividend is sufficiently covered by earnings. Equities 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%.

Popular stock traded down $0.11 during trading hours on Thursday, hitting $55.76. The stock had a trading volume of 80,244 shares, compared to its average volume of 586,148. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 11.69 and a beta of 1.20. Popular has a fifty-two week low of $44.22 and a fifty-two week high of $58.99.

Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Thursday, April 18th. The bank reported $1.69 EPS for the quarter, beating the consensus estimate of $1.45 by $0.24. Popular had a return on equity of 10.58% and a net margin of 24.69%. The firm had revenue of $607.39 million during the quarter, compared to analysts’ expectations of $603.70 million. During the same quarter in the prior year, the firm posted $0.89 EPS. As a group, sell-side analysts expect that Popular will post 6.59 earnings per share for the current year.

A number of brokerages have recently issued reports on BPOP. BidaskClub raised Popular from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. Zacks Investment Research upgraded Popular from a “hold” rating to a “strong-buy” rating and set a $64.00 price target on the stock in a research report on Tuesday, April 23rd. Finally, BTIG Research increased their price target on Popular to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Popular currently has an average rating of “Buy” and a consensus price target of $59.71.

In other news, insider Carlos J. Vazquez sold 4,000 shares of the stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $55.48, for a total value of $221,920.00. Following the transaction, the insider now owns 106,352 shares of the company’s stock, valued at approximately $5,900,408.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Maria Luisa Ferre sold 3,046 shares of the stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $56.43, for a total value of $171,885.78. Following the completion of the transaction, the director now directly owns 34,224 shares in the company, valued at approximately $1,931,260.32. The disclosure for this sale can be found here. 1.33% of the stock is currently owned by company insiders.

ILLEGAL ACTIVITY WARNING: “Popular Inc (BPOP) to Issue Quarterly Dividend of $0.30” was first reported by Rockland Register and is owned by of Rockland Register. If you are accessing this story on another site, it was illegally stolen and reposted in violation of United States & international copyright laws. The legal version of this story can be accessed at https://rocklandregister.com/2019/05/16/popular-inc-plans-quarterly-dividend-of-0-30-bpop.html.

Popular Company Profile

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.

See Also: What is the 52-week high/low?

Dividend History for Popular (NASDAQ:BPOP)

Receive News & Ratings for Popular Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Popular and related companies with MarketBeat.com's FREE daily email newsletter.