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.

Popular (NASDAQ:BPOP) last released its earnings results on Thursday, April 18th. The bank reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.24. The company had revenue of $607.39 million during the quarter, compared to analysts’ expectations of $603.70 million. Popular had a net margin of 24.69% and a return on equity of 10.58%. During the same period last year, the business earned $0.89 EPS. Analysts anticipate that Popular will post 6.59 earnings per share for the current fiscal year.

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.

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About Popular

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.

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Dividend History for Popular (NASDAQ:BPOP)

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