Popular, Inc. (BPOP) to Issue Quarterly Dividend of $0.75 on July 1st

Popular, Inc. (NASDAQ:BPOP) announced a quarterly dividend on Friday, May 8th. Stockholders of record on Friday, May 29th will be given a dividend of 0.75 per share by the bank on Wednesday, July 1st. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, May 29th.

Popular has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Popular has a payout ratio of 24.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Popular to earn $16.51 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 18.2%.

Popular Stock Performance

BPOP opened at $152.12 on Wednesday. Popular has a one year low of $102.00 and a one year high of $152.97. The stock’s fifty day moving average is $142.81 and its 200-day moving average is $132.93. The company has a market capitalization of $9.82 billion, a PE ratio of 11.23, a P/E/G ratio of 0.75 and a beta of 0.63.

Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $3.78 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.48. Popular had a return on equity of 14.53% and a net margin of 20.10%.The company had revenue of $816.08 million for the quarter, compared to the consensus estimate of $866.54 million. During the same quarter in the previous year, the business earned $2.56 EPS. On average, equities research analysts forecast that Popular will post 15.14 EPS for the current fiscal year.

Insider Activity

In other news, EVP Maria Cristin Gonzalez-Noguera sold 6,200 shares of Popular stock in a transaction on Friday, May 1st. The stock was sold at an average price of $148.51, for a total transaction of $920,762.00. Following the transaction, the executive vice president owned 11,255 shares in the company, valued at approximately $1,671,480.05. The trade was a 35.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Alejandro M. Ballester sold 23,000 shares of Popular stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $150.00, for a total value of $3,450,000.00. Following the transaction, the director owned 34,588 shares in the company, valued at $5,188,200. This represents a 39.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 30,951 shares of company stock worth $4,620,243. 2.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Acumen Wealth Advisors LLC purchased a new position in shares of Popular during the fourth quarter valued at $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Popular during the fourth quarter valued at $28,000. Parallel Advisors LLC grew its holdings in shares of Popular by 70.8% during the fourth quarter. Parallel Advisors LLC now owns 246 shares of the bank’s stock valued at $31,000 after buying an additional 102 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Popular during the third quarter valued at $31,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in Popular during the fourth quarter valued at $50,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.

About Popular

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.