Popular Inc Stock Price, News & Analysis

Popular, Inc. (NASDAQ: BPOP) announced that its subsidiary, Banco Popular de Puerto Rico (BPPR), has been named 'Bank of the Year - Puerto Rico' by The Banker for the eighth consecutive year. The accolade recognizes BPPR's strong financial performance and effective COVID-19 loan disbursement strategy, processing nearly 50,000 loans worth over $2.1 billion under the PPP. The bank's commitment to environmental, social, and governance (ESG) practices, along with its own digital loan processing platform, were also highlighted.

Popular announces its 29th music special, “Ellas, Mujeres en la Música,” in collaboration with filmmaker Noelia Quintero Herencia, showcasing women's impact on Puerto Rican music. The special airs on December 5 at 8:00 p.m. on major television channels, with additional broadcasts on Mega TV Orlando and Telemundo New York. The production highlights various artists including Lucecita Benítez and Milly Quezada. Proceeds support music programs for youth via Fundación Banco Popular, continuing Popular's long-standing commitment to empowerment and community engagement.

Popular, Inc. (NASDAQ: BPOP) has declared a quarterly cash dividend of $0.45 per share on its outstanding common stock. This dividend will be payable on January 3, 2022 to shareholders on record as of December 7, 2021. Popular, Inc., the leading financial institution in Puerto Rico, ranks among the top 50 U.S. bank holding companies by assets and offers a wide range of banking services both in Puerto Rico and the mainland United States through its subsidiaries.

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, 2003 Series A, payable on November 30, 2021 to record holders by November 15, 2021.

Additionally, a monthly distribution of $0.127604 per security on its 6.125% Cumulative Monthly Income Trust Preferred Securities will be paid on December 1, 2021 to holders of record as of November 15, 2021.

Popular, Inc. (NASDAQ: BPOP) has appointed Javier D. Ferrer as Chief Operating Officer and Head of Business Strategy, effective January 1, 2022. Ferrer will oversee all business units, aiming to enhance Popular's competitive edge and meet evolving customer needs. Previously serving as Executive Vice President and Chief Legal Officer since 2014, Ferrer brings extensive experience. José R. Coleman Tió is appointed as the new Chief Legal Officer, succeeding Ferrer. This leadership change is expected to deepen the company's business transformation amidst a strong financial position.

Popular, Inc. (NASDAQ:BPOP) reported a net income of $248.1 million for Q3 2021, up from $218.1 million in Q2 2021, attributed to a $61 million reserve release due to improved credit quality and economic outlook. Net interest margin decreased to 2.77% from 2.91%, but net interest income rose to $489.4 million. Non-performing loans decreased by $52.3 million, with a ratio of 2.2% of loans. The company completed a $350 million accelerated share repurchase and a $159 million acquisition of K2 Capital Group.

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 November 1, 2021, to holders of record as of October 15, 2021. Additionally, it announced a distribution of $0.127604 per security for its 6.125% Cumulative Monthly Income Trust Preferred Securities, also payable on November 1, 2021. These distributions reflect the company’s commitment to returning value to shareholders.

Popular, Inc. (NASDAQ:BPOP) announced its plans to report third-quarter financial results for the period ending September 30, 2021. The announcement will be made before the market opens on October 20, 2021.

A conference call to discuss the results will occur at 11:00 a.m. Eastern Time on the same day, accessible via the company’s website. A replay will be available until November 17, 2021, via phone and on the website.

Popular, Inc. (NASDAQ: BPOP) announced a redemption notice for all outstanding 6.70% Cumulative Monthly Income Trust Preferred Securities on November 1, 2021. The total amount for redemption is approximately $186.7 million, with a payment of $25.139583 per security. Following this redemption, Popular plans to delist the Popular Capital Trust I (NASDAQ: BPOPN) from the Nasdaq Global Select Market. Holders will receive payments automatically through The Depository Trust Corporation (DTC) without action required on their part.