Analysts Expect Popular Inc (BPOP) to Post $0.91 EPS

Brokerages expect Popular Inc (NASDAQ:BPOP) to report $0.91 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Popular’s earnings, with the highest EPS estimate coming in at $0.92 and the lowest estimate coming in at $0.89. Popular posted earnings per share of $0.85 during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.1%. The firm is expected to announce its next quarterly earnings report on Tuesday, July 25th.

According to Zacks, analysts expect that Popular will report full year earnings of $3.67 per share for the current fiscal year, with EPS estimates ranging from $3.61 to $3.74. For the next fiscal year, analysts forecast that the company will report earnings of $3.90 per share, with EPS estimates ranging from $3.83 to $3.98. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Popular.

Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Tuesday, April 25th. The bank reported $0.89 EPS for the quarter, beating the consensus estimate of $0.84 by $0.05. Popular had a return on equity of 6.73% and a net margin of 11.02%. The firm earned $477.97 million during the quarter, compared to analysts’ expectations of $441.33 million. During the same quarter last year, the firm earned $0.81 earnings per share.

BPOP has been the topic of several recent research reports. TheStreet upgraded Popular from a “c+” rating to a “b” rating in a research report on Tuesday, April 25th. Barclays PLC boosted their price target on Popular from $43.00 to $47.00 and gave the company a “hold” rating in a research report on Wednesday, January 25th. Keefe, Bruyette & Woods set a $46.00 price target on Popular and gave the company a “hold” rating in a research report on Monday, April 3rd. Jefferies Group LLC cut Popular from a “buy” rating to a “hold” rating in a research report on Monday, February 6th. Finally, BTIG Research restated a “neutral” rating on shares of Popular in a research report on Saturday, April 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $46.40.

Popular (NASDAQ:BPOP) traded down 1.04% during midday trading on Thursday, hitting $41.91. The company had a trading volume of 401,895 shares. The stock has a market cap of $4.27 billion, a PE ratio of 19.58 and a beta of 1.58. Popular has a 52-week low of $26.72 and a 52-week high of $45.96. The stock’s 50-day moving average price is $40.08 and its 200-day moving average price is $41.69.

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In other Popular news, COO Ignacio Alvarez sold 10,000 shares of Popular stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $44.24, for a total value of $442,400.00. Following the sale, the chief operating officer now owns 71,543 shares of the company’s stock, valued at approximately $3,165,062.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider O. Rivera Nestor sold 7,176 shares of Popular stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $45.24, for a total value of $324,642.24. The disclosure for this sale can be found here. Insiders sold a total of 35,468 shares of company stock worth $1,570,061 in the last ninety days. 1.28% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Riverhead Capital Management LLC acquired a new stake in shares of Popular during the third quarter worth $141,000. Sciencast Management LP acquired a new stake in shares of Popular during the fourth quarter worth $202,000. First Republic Investment Management Inc. acquired a new stake in shares of Popular during the fourth quarter worth $208,000. Laurion Capital Management LP acquired a new stake in shares of Popular during the third quarter worth $210,000. Finally, M&T Bank Corp acquired a new stake in shares of Popular during the third quarter worth $218,000. 86.22% of the stock is currently owned by institutional investors.

Popular Company Profile

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.

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