Popular Inc (BPOP) to Issue Quarterly Dividend of $0.25 on July 2nd

Popular Inc (NASDAQ:BPOP) announced a quarterly dividend on Wednesday, May 9th, Wall Street Journal reports. Investors of record on Tuesday, May 29th will be paid a dividend of 0.25 per share by the bank on Monday, July 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Friday, May 25th.

Popular opened at $46.92 on Thursday, MarketBeat.com reports. Popular has a 12-month low of $32.04 and a 12-month high of $48.11. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 17.51 and a beta of 1.09.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Tuesday, April 24th. The bank reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.13. Popular had a net margin of 4.74% and a return on equity of 5.29%. The company had revenue of $506.54 million for the quarter, compared to analysts’ expectations of $497.70 million. During the same period last year, the company earned $0.89 EPS. sell-side analysts predict that Popular will post 4.29 earnings per share for the current fiscal year.

BPOP has been the topic of several research analyst reports. Zacks Investment Research raised shares of Popular from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Wednesday, February 21st. Keefe, Bruyette & Woods set a $49.00 target price on shares of Popular and gave the stock a “buy” rating in a research report on Thursday, February 15th. Sandler O’Neill set a $48.00 target price on shares of Popular and gave the stock a “buy” rating in a research report on Thursday, February 15th. Barclays raised their target price on shares of Popular from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Finally, Morgan Stanley raised their target price on shares of Popular from $41.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, January 26th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $50.06.

About Popular

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services primarily to institutional and retail customers. 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, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.

Dividend History for Popular (NASDAQ:BPOP)

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