Popular, Inc. (BPOP) to Distribute Quarterly Dividend of $0.90 on January 4th

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 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, November 13th.

Popular has raised its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Popular has a payout ratio of 29.2% meaning 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 Price Performance

Popular stock opened at $158.51 on Wednesday. The stock has a market cap of $10.11 billion, a price-to-earnings ratio of 9.99, a price-to-earnings-growth ratio of 0.48 and a beta of 0.63. The firm has a 50-day moving average of $160.13 and a two-hundred day moving average of $154.24. Popular has a 1 year low of $109.01 and a 1 year high of $179.24.

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

Insider Buying and Selling at Popular

In related news, VP Adorno Rodriguez sold 600 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $168.79, for a total transaction of $101,274.00. Following the completion of the sale, the vice president directly owned 2,492 shares in the company, valued at $420,624.68. This represents a 19.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On Popular

A number of large investors have recently added to or reduced their stakes in the company. Reyes Financial Architecture Inc. acquired a new stake in Popular in the third quarter valued at approximately $34,000. Latitude Advisors LLC purchased a new stake in shares of Popular during the 3rd quarter valued at $34,000. Elevation Wealth Partners LLC boosted its position in shares of Popular by 97.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 280 shares of the bank’s stock worth $44,000 after purchasing an additional 138 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Popular by 30.5% in the 1st quarter. Parallel Advisors LLC now owns 321 shares of the bank’s stock worth $43,000 after purchasing an additional 75 shares in the last quarter. Finally, Heritage Family Offices LLP acquired a new stake in shares of Popular in the 3rd quarter worth $73,000. 87.27% of the stock is currently owned by institutional investors.

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.