Popular, Inc. (NASDAQ:BPOP) Stock to Pay Quarterly Dividend of $0.90

Popular, Inc. (NASDAQ:BPOP) declared a quarterly dividend on Friday, October 23rd. Investors of record on Friday, November 13th will be given a dividend of $0.90 per share by the bank on Monday, January 4th. This represents a $3.60 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, November 13th.

Popular has increased its dividend by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 6 years. Popular has a payout ratio of 29.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Popular to earn $17.35 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 20.7%.

Popular Stock Up 0.9%

Shares of Popular stock opened at $159.17 on Wednesday. The stock’s fifty day moving average is $160.13 and its two-hundred day moving average is $154.24. The company has a market capitalization of $10.15 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 0.48 and a beta of 0.63. Popular has a 52 week low of $109.01 and a 52 week high of $179.24.

Popular (NASDAQ:BPOP) last released its earnings results on Thursday, October 22nd. The bank reported $4.21 earnings per share for the quarter, topping analysts’ consensus estimates of $3.95 by $0.26. Popular had a return on equity of 16.08% and a net margin of 22.36%. The business had revenue of $874.59 million for the quarter, compared to analyst estimates of $904.43 million. During the same quarter last year, the firm posted $3.14 earnings per share. As a group, research analysts anticipate that Popular will post 16.05 earnings per share for the current year.

Wall Street Analyst Weigh In

BPOP has been the subject of a number of recent analyst reports. Piper Sandler reissued an “overweight” rating and set a $190.00 target price (down from $198.00) on shares of Popular in a research note on Monday, October 26th. Benchmark raised their price target on shares of Popular from $214.00 to $216.00 and gave the stock a “buy” rating in a research note on Monday, August 31st. Barclays lifted their price objective on shares of Popular from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, October 5th. Truist Financial boosted their price objective on shares of Popular from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, Citigroup boosted their price objective on shares of Popular from $192.00 to $193.00 and gave the company a “buy” rating in a research report on Monday, October 26th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Popular presently has a consensus rating of “Buy” and an average target price of $186.42.

Popular Company Profile

Popular, Inc. is a financial holding company headquartered in San Juan, Puerto Rico. Founded in 1893, it provides banking and other financial services primarily in Puerto Rico and the U.S. mainland. Its principal subsidiary, Banco Popular de Puerto Rico, serves individuals and businesses with consumer and commercial banking, mortgage lending, and related financial services. Popular also operates Popular Bank in the mainland United States and provides auto financing through Popular Auto. Ignacio Alvarez is Popular’s president and chief executive officer.