Popular Inc Stock Price, News & Analysis

Popular, Inc. (BPOP) has completed the acquisition of assets from Evertec Group, enhancing its digital banking services and commercial cash management applications. This move allows Popular's Banco Popular de Puerto Rico (BPPR) to improve flexibility in technology partnerships, reduce service costs, and strengthen its customer service capabilities. The acquisition involved 4,589,169 shares of Evertec common stock, valued at $169 million, leading to an estimated after-tax gain of $112 million. However, the transaction impacts Popular's tangible book value negatively by approximately $55 million.

Popular, Inc. (NASDAQ:BPOP) will report its financial results for Q2 2022 on July 28, 2022, before market opening. A conference call to discuss the results will be held at 11:00 a.m. ET on the same day, available via their website and through dial-in options. Popular, Inc. is a leading financial institution in Puerto Rico, providing a wide range of banking and financial services, including retail, mortgage, and commercial banking.

Popular, Inc. (NASDAQ: BPOP) has declared a monthly cash dividend of $0.132813 per share for its 6.375% Non-Cumulative Monthly Income Preferred Stock, 2003 Series A, payable on June 30, 2022, to shareholders of record as of June 15, 2022. Additionally, it announced a monthly distribution of $0.127604 per security for its 6.125% Cumulative Monthly Income Trust Preferred Securities, payable on July 1, 2022, to holders of record as of June 15, 2022.

Popular, Inc. (NASDAQ: BPOP) announced a quarterly cash dividend of $0.55 per share on outstanding common stock. This dividend will be payable on July 1, 2022, to shareholders recorded by the close of business on June 2, 2022.

As the leading financial institution in Puerto Rico, Popular provides various banking services, including retail, mortgage, and commercial banking. The company has a solid reputation, ranking among the top 50 U.S. bank holding companies by assets.

Popular Bank has appointed Bertha Rozier as SVP of Retail Banking and US Transformation, enhancing its leadership team. With over 30 years of financial industry experience, including 21 years at HSBC, Rozier aims to drive growth in the bank's retail sector. She will report to COO Manuel Chinea and join the senior management team. Popular Bank operates 39 branches in the U.S., primarily in the New York Metro area and emphasizes a customer-focused approach to innovation and service.

Popular, Inc. (NASDAQ: BPOP) has declared a monthly cash dividend of $0.132813 per share for its 6.375% Non-Cumulative Monthly Income Preferred Stock, payable on May 31, 2022. Record holders as of May 15, 2022 will receive this dividend. Additionally, the company announced a monthly distribution of $0.127604 per security for its 6.125% Cumulative Monthly Income Trust Preferred Securities, payable on June 1, 2022, also to record holders as of May 15, 2022.

Popular is set to invest over $300 million in constructing a new corporate campus in Hato Rey, Puerto Rico, with plans to centralize its operations by 2026. The project aims to create nearly 1,700 jobs during its construction phase and will feature two buildings offering amenities such as a Training and Development Center, wellness center, and parking for 1,300 cars. The design focuses on sustainability, aiming for LEED certification. This initiative is seen as a key factor in the economic recovery of the region.

Popular reported a net income of $211.7 million for Q1 2022, up from $206.1 million in Q4 2021. The net interest margin was 2.75%, slightly down from 2.78% in the previous quarter. Non-performing loans decreased by $28 million, resulting in a 1.8% NPL to loans ratio. Net charge-offs rose to $3.8 million, compared to a recovery of $7.9 million in Q4 2021. Capital ratios remained strong with a Common Equity Tier 1 ratio of 16.26%. The company also announced an accelerated stock repurchase of $400 million and increased its dividend to $0.55 per share.

Popular, Inc. (NASDAQ: BPOP) has declared a monthly cash dividend of $0.132813 per share on its 6.375% Non-Cumulative Monthly Income Preferred Stock, effective May 2, 2022, to shareholders of record by April 15, 2022. Additionally, it announced a distribution of $0.127604 per security on its 6.125% Cumulative Monthly Income Trust Preferred Securities, also payable on May 2, 2022, with the same record date. As a leading financial institution in Puerto Rico, Popular provides a wide array of banking services and ranks among the top 50 U.S. bank holding companies.