BPOP

Popular (BPOP) Declares $0.62 Dividend

Popular said on February 23, 2024 that its board of directors declared a regular quarterly dividend of $0.62 per share ($2.48 annualized). Previously, the company paid $0.62 per share.

Shares must be purchased before the ex-div date of March 13, 2024 to qualify for the dividend. Shareholders of record as of March 14, 2024 will receive the payment on April 1, 2024.

At the current share price of $82.56 / share, the stock's dividend yield is 3.00%.

Looking back five years and taking a sample every week, the average dividend yield has been 2.93%, the lowest has been 1.96%, and the highest has been 6.04%. The standard deviation of yields is 0.76 (n=233).

The current dividend yield is 0.09 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.33. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.55%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 700 funds or institutions reporting positions in Popular. This is an increase of 19 owner(s) or 2.79% in the last quarter. Average portfolio weight of all funds dedicated to BPOP is 0.40%, an increase of 7.97%. Total shares owned by institutions decreased in the last three months by 1.29% to 74,298K shares. BPOP / Popular, Inc. Put/Call Ratios The put/call ratio of BPOP is 0.34, indicating a bullish outlook.

Analyst Price Forecast Suggests 23.08% Upside

As of February 24, 2024, the average one-year price target for Popular is 101.62. The forecasts range from a low of 90.90 to a high of $117.60. The average price target represents an increase of 23.08% from its latest reported closing price of 82.56.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Popular is 2,424MM, a decrease of 5.81%. The projected annual non-GAAP EPS is 11.23.

What are Other Shareholders Doing?

BPOP / Popular, Inc. Shares Held by Institutions

Price T Rowe Associates holds 4,290K shares representing 5.95% ownership of the company. In it's prior filing, the firm reported owning 4,646K shares, representing a decrease of 8.30%. The firm decreased its portfolio allocation in BPOP by 45.31% over the last quarter.

Wellington Management Group Llp holds 3,817K shares representing 5.29% ownership of the company. In it's prior filing, the firm reported owning 3,600K shares, representing an increase of 5.68%. The firm decreased its portfolio allocation in BPOP by 81.50% over the last quarter.

First Trust Advisors holds 2,920K shares representing 4.05% ownership of the company. In it's prior filing, the firm reported owning 3,201K shares, representing a decrease of 9.62%. The firm increased its portfolio allocation in BPOP by 9.40% over the last quarter.

T. Rowe Price Investment Management holds 2,752K shares representing 3.81% ownership of the company. In it's prior filing, the firm reported owning 2,860K shares, representing a decrease of 3.92%. The firm increased its portfolio allocation in BPOP by 15.29% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,269K shares representing 3.15% ownership of the company. In it's prior filing, the firm reported owning 2,242K shares, representing an increase of 1.19%. The firm increased its portfolio allocation in BPOP by 17.80% over the last quarter.

Popular Background Information
(This description is provided by the company.)

Popular, Inc. is the leading financial institution in Puerto Rico, by both assets and deposits, and ranks among the top 50 U.S. bank holding companies by assets. Founded in 1893, Banco Popular de Puerto Rico, Popular's principal subsidiary, provides retail, mortgage and commercial banking services in Puerto Rico and the U.S. Virgin Islands. Popular also offers in Puerto Rico auto and equipment leasing and financing, investment banking, broker-dealer and insurance services through specialized subsidiaries. In the mainland United States, Popular provides retail, mortgage and commercial banking services through its New York-chartered banking subsidiary, Popular Bank, which has branches located in New York, New Jersey and Florida.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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