Popular, Inc. (BPOP) will issue a quarterly dividend of $0.62 on October 1st

Popular, Inc. (NASDAQ:BPOP – Get Free Report ) announced a quarterly dividend on Friday, August 23rd, Zacks reports. Investors of record on Friday, September 13th will be paid a dividend of 0.62 per share by the bank on Tuesday, October 1st. This represents an annualized dividend of $2.48 and a yield of 2.49%. The ex-dividend date of this dividend is Friday, September 13.

Popular has increased its dividend payout by an average of 12.4% per year over the past three years. Popular has a payout ratio of 23.0%, meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Popular to earn $10.55 per share next year, which means the company should be able to continue to cover its $2.48 annual dividend with an estimated future payout ratio of 23 .5%.

Popular price performance

NASDAQ:BPOP opened at $99.50 on Friday. The company’s 50-day moving average is $93.99, and its two-hundred-day moving average is $88.78. Popular has a 1 year low of $59.27 and a 1 year high of $105.01. The firm has a market cap of $7.19 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 0.67 and a beta of 0.79.

Popular (NASDAQ:BPOP – Get Your Free Report ) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.38. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $751.57 million. Popular had a return on equity of 12.00% and a net margin of 12.20%. During the same period last year, the firm posted earnings of $2.10 per share. As a group, equities analysts anticipate that Popular will post 8.76 earnings per share for the current fiscal year.

Analysts set new price targets

Several analysts have recently issued reports on BPOP shares. Barclays boosted their price objective on shares of Popular from $103.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Royal Bank of Canada upped their target price on shares of Popular from $90.00 to $108.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $120.00 price objective (up previously from $110.00) on shares of Popular in a research report on Thursday, July 25th . Finally, Hovde Group upped their target price on Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Popular currently has a consensus rating of “Moderate Buy” and an average price target of $105.22, according to MarketBeat.com.

See our latest review on Popular

Insiders place their bets

In other Popular news, EVP Camille Burckhart sold 5,917 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total value of $577,499.20. Following the completion of the transaction, the executive vice president now owns 29,922 shares of the company’s stock, valued at approximately $2,920,387.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this link. In other Popular news, EVP Camille Burckhart sold 5,917 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total transaction of $577,499.20. Following the completion of the transaction, the executive vice president now owns 29,922 shares in the company, valued at approximately $2,920,387.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gilberto Monzon sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $85.80, for a total transaction of $429,000.00. Following the completion of the sale, the executive vice president now owns 48,320 shares in the company, valued at $4,145,856. The disclosure for this sale can be found here. 2.09% of shares are owned by company insiders.

About Popular

(Get a free report)

Popular, Inc, through its subsidiaries, provides various retail, mortgage and commercial banking products and services in Puerto Rico, the United States and the British Virgin Islands. The company offers savings, NOW, money market and other interest-bearing demand accounts; non-interest-bearing demand deposits; and certificates of deposit.

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