Popular Inc Stock Price, News & Analysis

Popular, Inc. (Nasdaq: BPOP) announced the completion of the second round of the Paycheck Protection Program (PPP) on May 31, 2021, processing nearly 50,000 loans totaling $2.1 billion. In the latest PPP round, which started on January 19, the bank processed about 20,500 loans amounting to $673 million. The average loan size was $32,800, lower than the national average of $42,000. Popular was a leading institution in Puerto Rico, processing 62% of total PPP loans on the island, aiding approximately 136,000 jobs in sectors like food, retail, and health.

Popular, Inc. (NASDAQ: BPOP) has declared a monthly cash dividend of $0.132813 per share of its 6.375% Non-Cumulative Monthly Income Preferred Stock, payable on June 30, 2021, to holders of record as of June 15, 2021.

Additionally, the company announced distributions on its Trust Preferred Securities, including $0.139583 per security of its 6.700% Cumulative Monthly Income Trust Preferred Securities and $0.127604 per security of its 6.125% Cumulative Monthly Income Trust Preferred Securities, both payable on July 1, 2021.

Popular, Inc. (NASDAQ: BPOP) has declared a quarterly cash dividend of $0.45 per share, set for July 1, 2021, to shareholders recorded by May 26, 2021. This dividend reflects the company's ongoing commitment to shareholder returns. As a leading financial institution in Puerto Rico, Popular, Inc. ranks among the top 50 U.S. bank holding companies by assets and offers various banking services in Puerto Rico and the U.S. Virgin Islands, as well as retail banking through its subsidiary on the mainland.

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, payable on June 1, 2021 to holders of record as of May 15, 2021. Additionally, it announced distributions on Trust Preferred Securities: $0.139583 per security on 6.700% Cumulative Monthly Income Trust Preferred Securities, and $0.127604 per security on 6.125% Cumulative Monthly Income Trust Preferred Securities, also payable on June 1, 2021 to holders of record as of May 15, 2021.

Popular, Inc. (NASDAQ: BPOP) has initiated an accelerated share repurchase (ASR) agreement to buy back $350 million of its common stock. The initial payment of $350 million will result in the delivery of 3,785,831 shares. This action, part of the company's capital strategy for 2021, will see approximately $280 million recognized in treasury stock and $70 million as a reduction in capital surplus. The ASR's final settlement is anticipated by Q3 2021, contingent on the stock's average price during the agreement period.

Popular, Inc. (NASDAQ:BPOP) reported a net income of $262.6 million for Q1 2021, up from $176.3 million in Q4 2020. Key highlights include a $82.2 million reversal in provision for credit losses due to improving economic conditions, resulting in an allowance for credit losses of $800 million, or 2.75% of loans. The bank also recorded an increase in net interest income to $479.1 million and a net interest margin of 3.07%. Additionally, the quarterly common stock dividend was raised to $0.45, and common stock repurchases of up to $350 million are planned.

Popular, Inc. (NASDAQ: BPOP) has announced key capital actions, including an increase in its quarterly dividend from $0.40 to $0.45 per share, effective from Q3 2021, pending Board approval. Additionally, the company plans to repurchase up to $350 million in common stock during 2021. CEO Ignacio Alvarez stated that these actions reflect Popular's resilience and commitment to returning excess capital to shareholders, while emphasizing careful management of its financial position and capital structure in the future.

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, payable on April 30, 2021, to shareholders of record by April 15, 2021.

Additionally, the company announced distributions on its Trust Preferred Securities, including $0.139583 for the 6.700% series and $0.127604 for the 6.125% series, both payable on May 3, 2021, also to holders of record by April 15, 2021.

Popular Bank, a subsidiary of Popular, Inc. (Nasdaq: BPOP), in collaboration with Latin Business Today, has launched an educational initiative to support Latinx small businesses affected by the COVID-19 pandemic. The initiative includes a nine-part virtual discussion series titled Driving Business Success through the Pandemic, aimed at providing insights on survival strategies and recovery for small business owners. A recent survey indicated that 86% of Latino small business owners faced significant pandemic impacts, with many at risk of closing within six months.