Popular, Inc. (BPOP) Plans $0.25 Quarterly Dividend

Popular, Inc. (NASDAQ:BPOP) declared a quarterly dividend on Wednesday, November 15th, Wall Street Journal reports. Stockholders of record on Tuesday, December 5th will be paid a dividend of 0.25 per share by the bank on Tuesday, January 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Monday, December 4th.

Popular (NASDAQ BPOP) traded up $0.48 on Wednesday, reaching $33.20. The company had a trading volume of 1,643,300 shares, compared to its average volume of 728,134. Popular has a one year low of $32.04 and a one year high of $45.96. The stock has a market cap of $3,420.00, a PE ratio of 11.36 and a beta of 1.33.

Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Tuesday, October 31st. The bank reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.76). Popular had a net margin of 9.98% and a return on equity of 5.70%. The business had revenue of $478.50 million for the quarter, compared to analysts’ expectations of $513.85 million. During the same quarter in the previous year, the firm earned $0.44 EPS. Popular’s revenue was up 11.3% compared to the same quarter last year. equities analysts anticipate that Popular will post 2.45 EPS for the current fiscal year.

BPOP has been the subject of a number of recent analyst reports. Piper Jaffray Companies restated a “buy” rating and set a $53.00 price objective on shares of Popular in a report on Friday, July 28th. Zacks Investment Research cut Popular from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. ValuEngine cut Popular from a “buy” rating to a “hold” rating in a report on Wednesday, September 27th. Barclays PLC dropped their price objective on Popular from $47.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, October 11th. Finally, BTIG Research upgraded Popular from a “neutral” rating to a “buy” rating in a report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $46.75.

A hedge fund recently raised its stake in Popular stock. The Manufacturers Life Insurance Company raised its position in shares of Popular, Inc. (NASDAQ:BPOP) by 7.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,980 shares of the bank’s stock after purchasing an additional 200 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Popular were worth $124,000 as of its most recent filing with the Securities & Exchange Commission. 85.57% of the stock is currently owned by institutional investors.

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About Popular

Popular, Inc (Popular) is a financial holding company. The Company operates in two segments: Banco Popular de Puerto Rico (BPPR), which includes its Puerto Rico business, and Banco Popular North America (BPNA), which includes its the United States mainland business. The Company has operations in Puerto Rico, the United States and the Caribbean.

Dividend History for Popular (NASDAQ:BPOP)

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