Popular Inc
BPOP
ISIN PR7331747001 / Valor 18688612
Popular Inc
UMushroom community rating:
About company
Popular Inc., originally established as a small banking institution over a century ago, has significantly expanded its operations and now stands as a major corporation within the financial sector. The company has broadened its scope beyond traditional banking, offering a diverse array of financial products and services. Its geographical footprint extends across Puerto Rico, the United States, the Caribbean, and Latin America, indicating a robust presence in both local and international markets. Popular Inc. caters to a wide customer base, providing solutions that range from personal banking to more complex corporate financial services. This expansion and diversification reflect the company's evolution from its humble beginnings to a significant player in the global financial services industry.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (23.12.2024):
Net Income
Popular Inc reported a net income of $155.3 million for the third quarter of 2024, a decrease from the $177.8 million reported in the second quarter of 2024. This decline in net income was attributed to an increase in the provision for credit losses, despite a rise in net interest income during the quarter.
Net Interest Income
For the third quarter of 2024, Popular Inc's net interest income was $572.5 million, marking an increase of $4.2 million compared to the second quarter of 2024. The net interest margin also saw a slight increase to 3.24% from 3.22% in the previous quarter, reflecting improved interest income performance.
Non-Interest Income and Operating Expenses
Popular Inc's non-interest income for the third quarter of 2024 was $164.1 million, slightly down from $166.3 million in the second quarter. Operating expenses decreased by $2.3 million, totaling $467.3 million for the quarter, indicating effective cost management despite the challenging economic environment.
Credit Quality and Loan Growth
Credit quality metrics for Popular Inc remained stable in the third quarter of 2024. Non-performing loans increased by $19.6 million, but the non-performing loans to loans ratio remained flat at 1.0%. The company also experienced loan growth, with ending loan balances, excluding loans held-for-sale, increasing by $603.3 million to $36.2 billion.
Capital and Shareholder Returns
Popular Inc completed the repurchase of 599,096 shares of common stock for $58.8 million during the third quarter of 2024. The Common Equity Tier 1 ratio stood at 16.42%, and the tangible book value per share increased by $6.33 from the previous quarter, reflecting a strong capital position and commitment to returning value to shareholders.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
6688 M
Market cap (USD)
93,609
Daily traded volume (Shares)
94.86 / 93.57
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
Est P/E ratio
EPS (USD)
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Ratings & reviews
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