Popular Inc (BPOP) to Issue Quarterly Dividend of $0.30
Popular Inc (NASDAQ:BPOP) declared a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Stockholders of record on Tuesday, May 28th will be paid a dividend of 0.30 per share by the bank on Monday, July 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, May 24th.
Popular has raised its dividend by an average of 88.2% annually over the last three years and has increased its dividend every year for the last 3 years. Popular has a dividend payout ratio of 25.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Popular to earn $7.10 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 16.9%.
BPOP stock opened at $54.56 on Thursday. The company has a market capitalization of $5.34 billion, a P/E ratio of 11.44 and a beta of 1.20. Popular has a 52 week low of $44.22 and a 52 week high of $58.99.
In related news, insider Carlos J. Vazquez sold 4,000 shares of Popular stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $55.48, for a total value of $221,920.00. Following the completion of the sale, the insider now directly owns 106,352 shares in the company, valued at approximately $5,900,408.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.33% of the stock is owned by company insiders.
A number of research firms recently commented on BPOP. BidaskClub cut shares of Popular from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Zacks Investment Research upgraded shares of Popular from a “hold” rating to a “strong-buy” rating and set a $64.00 target price for the company in a research note on Tuesday, April 23rd. Finally, BTIG Research lifted their target price on shares of Popular to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Popular currently has a consensus rating of “Buy” and an average target price of $59.71.
WARNING: This article was reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this article on another domain, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The original version of this article can be accessed at https://theolympiareport.com/2019/05/23/popular-inc-bpop-to-issue-quarterly-dividend-of-0-30.html.
Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services. The company accepts various deposit products. It also offers commercial and industrial loans; commercial real estate loans; residential mortgage loans; consumer loans, including personal loans, credit cards, automobile loans, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.
Receive News & Ratings for Popular Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Popular and related companies with MarketBeat.com's FREE daily email newsletter.